It's incorrect to think a state can't rob you of your money in a blockchain. Unless the number of participants in a blockchain is overwhelming, with respect to a nation state's budget, they can take it over.
It's not out of reach for a government to assign a million nodes to do a takeover of a network. But looking at bitcoin it seems like just 10K nodes might be enough to takeover, or at lest for a schism (which would completely break the system).
Yes you are right of course, I stand corrected.
I meant to say no one can forcibly alienate your cryptocoins via purely "legal" means: a state can do that if you have a bank account for example. And there is nothing you can do to prevent it.
A government can also take possession of your other assets such as stocks, foreign money, land, enterprise, etc... but cryptocoins have to be sent from a wallet.
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It's incorrect to think a state can't rob you of your money in a blockchain. Unless the number of participants in a blockchain is overwhelming, with respect to a nation state's budget, they can take it over.
It's not out of reach for a government to assign a million nodes to do a takeover of a network. But looking at bitcoin it seems like just 10K nodes might be enough to takeover, or at lest for a schism (which would completely break the system).
Yes you are right of course, I stand corrected.
I meant to say no one can forcibly alienate your cryptocoins via purely "legal" means: a state can do that if you have a bank account for example. And there is nothing you can do to prevent it.
A government can also take possession of your other assets such as stocks, foreign money, land, enterprise, etc... but cryptocoins have to be sent from a wallet.