Quote:
Originally Posted by Jewish Rabbi
The cost to create a fake bitcoin would be in the billions of dollars due to the nature of block chain technology. I guess I’m not sure what you mean by bitcoin getting hacked.
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Block chain does greatly minimize your attack footprint. I'm really high on block chain tech becoming more mainstreamed sooner than later. I've already written up architectural proposals for some smaller shops to utilize block chain.
Hacked = stolen from the owners, not corrupting the bitcoin itself.
If you rob a bank or stuff a ballot box, there is paper representing that amount or ballot somewhere. Buy gold, thats physically somewhere. Its harder to hide the crime than a pure electronic transaction.
I worked at a place that was hacked 1 million times a day, every day. No one got through in the 4.5 years I was there. We know how to secure electronic data. But, its very costly to implement. And if you get to that level of security, you still have to deal with the weakest part of the security chain, us humans.