News for hackers. Stuff that matters.
Re:Bitcoin security model: trust by computation by mikeyouse on Friday February 21, 2014 @11:40AM (#7277753)
This is a good point, but I had difficulty reading it without adding some parentheticals;

    This is a neat trick, in that it defines Bitcoin's
    security model such that all of the successful attacks
    are out of scope.

    Meanwhile, the central actors (which Bitcoin doesn't
    have) who have received the trust (that Bitcoin doesn't
    require) ran into a smidgen of trouble running the
    bank (that Bitcoin makes obsolete) and now their
    depositors (that Bitcoin doesn't acknowledge) are
    praying that the government (that Bitcoin undermines)
    will hit them with the legal process (that Bitcoin
    structurally avoids).

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