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Bonus: The Crypto Story by Matt Levine - Part 2

Bloomberg Crypto

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The Sibil Attack - How to Mine a Block

There are no rules about who can join the Bitcoin network. You don't have to prove you're a good person or even a person. This creates a risk of what's sometimes called a Sibil attack. The idea is that in a system where the ledger is collectively maintained by the group and anyone can join the group without permission, you can spin up a bunch of computer nodes so that you look like thousands people.

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