Re: Please explain the point of spending resources on solving meaningless cryptographic issues? Did I misunderstand something?


SUBMITTED BY: Guest

DATE: March 12, 2013, 9:56 a.m.

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  1. Bitcoin -obviously- wouldn't work without a system that secures it. When you use online banking or online payment processors your connection is usually secured using SSL - however SSL relies on certificate authorities - not a network of "miners". If a certificate authority is compromised every single website relying on it is automatically insecure - that's like when someone manages to take over the Bitcoin network.

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