[Cryptography] Electronic currency revived after 20-year hiatus

[Ben Laurie]

On 19 August 2016 at 01:49, Peter Todd <pete at petertodd.org> wrote:
>
> Bitcoin works just fine if the majority of miners are dishonest, so long as
> they are economically rational within the context of the Bitcoin protocol (e.g.
> they're not getting out-of-band payments from state actors larger than the
> mining reward). If Bitcoin required miners to behave "honestly" it'd be a much
> less secure system.

There's no reason to believe miners are economically rational within
the context of the Bitcoin protocol. Recent counterexample is Chandler
Guo declaring he would attack Ethereum Classic...