On: Goldman Sachs to Open a Bitcoin Trading Operation

[blanderman]

- Nobody knowing who created it, especially since they control over 1,000,000 bitcoin (~5% of the eventual total supply).

- No solution to a 51% attack.

- The gradual loss of inflation in supply. There are very valid reasons why existing currencies use inflationary systems.

[hvidgaard → blanderman]

There will never be a solution to "the 51% attack" for any kind of decentralized system. No blockchain will solve that particular issue. The conjecture Bitcoin has formulated is that there is no monetary incentive to perform the attack, and if the threat model involves state level adversaries nothing is particular safe. So far, it has been demonstrated that it holds true.

[mygo → blanderman]

> No solution to a 51% attack.

A 51% attack would cost more money than Bitcoin’s entire market cap

[blanderman → mygo]

Unless you're operating a major mining pool or mining hardware company, or at least breach the security of those organizations.