Post
Topic
Board Altcoin Discussion
Re: DECENTRALIZED crypto currency (including Bitcoin) is a delusion (any solutions?)
by
TPTB_need_war
on 09/01/2016, 18:21:00 UTC
In the case of 4, well, its just a disaster. Blocks can be replaced all the way back to the last checkpoint potentially and all transactions from that point could be destroyed.

2.  Due to #1 someone with enough resource can undo and rewrite history

You aren't capturing the realistic effect of a 51% attack. Society is not going to allow all historic blocks to be replaced. Politically impossible. Instead the viable attack is insidiously changing the protocol going forward, such as censoring transactions which violate some government edict, e.g. forcing every transaction to be stamped with its government KYC identification number (a la 666).