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re: My faith in Bitcoin just went out the window
Posted on 3/8/13 at 1:19 pm to Waffle House
Posted on 3/8/13 at 1:19 pm to Waffle House
quote:How much advantage is it if you know where not to look when you are mining? The founders could eliminate large search areas for themselves such that where anyone else might have a 1 in 50 trillion chance of an operation finding a bitcoin they have a 1 in 5 trillion chance. That is a sigificant advantage, and there is nothing that could have been done to protect against this.
Regarding the mining operations, IF (and I'm not saying they are, I'm just wondering if it is possible) one one the founders were inclined to game the system, couldn't they sporadically award their personal wallets with successful mined bitcoins and have it go unnoticed?
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