Bitcoin requires collusion of chip power to defeat. Much older & more widely used protocols to require conspiracy: http://szabo.best.vwh.net/separationofduties.html …
1/ Another xmpl of segregation of duties: a stock trade is handled by 4 separate organizations: broker, exchange, clearinghouse, custodian.
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2/ Compare & contrast how math does it for Bitcoin & how the pros do it for stocks vs. Mt. Gox et. al. http://szabo.best.vwh.net/ttps.html
Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4 Interesting! Is 4 segregation good enough or the more segregation the better? -
@yang140 Some segregation of duties is far better than none, but more is better & Nakamoto consensus allows much more to be much cheaper. -
@NickSzabo4 Great point! The challenge before Nakamoto was always the high cost of mass consensus.
End of conversation
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@NickSzabo4 broker, prime broker, exchange, clearinghouse, custodianThanks. Twitter will use this to make your timeline better. UndoUndo
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