Would it be easy for hackers to create counterfeit bitcoins?
Cryptocurrency
Asked by Question Bot01/Dec/20141 answer
1 Answer
F
Faisal Khan
Answered 01/Dec/2014
Luke Parker provides a rock-solid explanation. Another analogous way of looking at it, as follows.
The world of digital is based on consensus. This means, everyone. Each and every person in the ecosystem is looking at what you are doing. Even counterfeiting. When you counterfeit, and the fact that everyone is looking at you, what do you think the consensus will be?
The general consensus would be that your money is no good. No one will accept it or entertain it as money and the consensus will ensure of that. So that everyone's ledger will reflect that.
It might not be impossible, but the chances of you fooling the consensus, are zero.
The world of digital is based on consensus. This means, everyone. Each and every person in the ecosystem is looking at what you are doing. Even counterfeiting. When you counterfeit, and the fact that everyone is looking at you, what do you think the consensus will be?
The general consensus would be that your money is no good. No one will accept it or entertain it as money and the consensus will ensure of that. So that everyone's ledger will reflect that.
It might not be impossible, but the chances of you fooling the consensus, are zero.