<div dir="ltr"><div class="gmail_extra"><br><div class="gmail_quote">On 14 March 2015 at 20:18, Robert Hettinga <span dir="ltr"><<a href="mailto:hettinga@gmail.com" target="_blank">hettinga@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">Bitcoin, which amounts to registered unforgeable certificates with a distributed, and also unforgeable, certificate registry.</blockquote></div><br>It really doesn't. 51% (more properly, 34%) attacks show that it doesn't.</div><div class="gmail_extra"><br></div><div class="gmail_extra">If it were done properly, i.e. with verifiable append only logs run by a known set of entities, then it would. It would also be many orders of magnitude cheaper. Stupidly cheap, in fact, instead of eye-wateringly expensive.</div><div class="gmail_extra"><br></div><div class="gmail_extra">I do wish people would stop perpetuating this canard.</div><div class="gmail_extra"><br></div></div>