I've thought the same. I'm not some kind of bitcoin expert, but my understanding is that new coins have to be mined to validatethe blockchain and as it gets more difficult to mine blockchain manipulation becomes possible by whoever has the biggest baddest mining operation. It only worked as intended when distributed mining was possible.
If I'm even close here, the same limited creation of new coins that makes it potentially valuable is also what makes it vulnerable...
Could someone who knows what's up help me out here? Wasn't bitcoin supposed to be a proof of concept, not the final crypto solution in the first place?
I've thought the same. I'm not some kind of bitcoin expert, but my understanding is that new coins have to be mined to validatethe blockchain and as it gets more difficult to mine blockchain manipulation becomes possible by whoever has the biggest baddest mining operation. It only worked as intended when distributed mining was possible.
If I'm even close here, the same limited creation of new coins that makes it potentially valuable is also what makes it vulnerable...
Could someone who knows what's up help me out here? Wasn't bitcoin supposed to be a proof of concept, not the final crypto solution in the first place?