Re:As Feds Demand the Keys, Preparing for the Death of Publi...
by Retric on Friday July 26, 2013 @10:35AM
(#6108412)
An important point about bitcoin for this discussion. It in no way authenticates who anyone is beyond there public key, it just keeps track of what someone does with those keys. Aka I did this work which I signed, i want to move a bitcoin to this act which I signed.
Note: that is (besides the 51% attack vector) the primary reason the bigger parts of the crypto scene won't call bitcoin truly secure. Because there is still a risk of insecurity, it is just abysmally small, and disrupting one node doesn't mean the degradation of the web of trust because as long as the majority still agrees on the correct state of affairs (and as a false block chain diverges it becomes more expensive to maintain that public facing fork to disrupt other clients).