[cryptography] Bitcoin in endgame
ianG
iang at iang.org
Wed Feb 22 18:11:12 PST 2012
On the crypto topic that everyone loves to hate, Bitcoin, the expected
attack has begun.
http://financialcryptography.com/mt/archives/001363.html
Philipp Guering and I wrote a paper that explains how this will fall out.
http://iang.org/papers/BitcoinBreachesGreshamsLaw.pdf
Although in the big picture, this is more about finance not cryptography,
there is an engaging question - can cryptography be used to control this
sort of issue? It didn't work for Bitcoin, but more judicious uses of
crypto can do a lot better, and has done with other designs. The challenge
is to get the balance right.
iang
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