2min chapter

Long Now: Seminars About Long-term Thinking cover image

Niall Ferguson: Networks and Power

Long Now: Seminars About Long-term Thinking

CHAPTER

The Use Case for Blockchain Is Not Money

The Chinese government strategy is that it wants simultaneously to prevent Bitcoin being held by Chinese citizens but control the network fire mining. If you have more than 50% of the mining then you potentially control the whole blockchain and can alter it so here's the way I'm thinking about it now it's not dead but it's vulnerable and it's especially vulnerable to state mandated digital currency in China.

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