Re: Gold collapsing. Bitcoin UP.

Answer this, what ledger with integrity allows part of itself to be cut off from its main body as in NL's SC2 scenario?

What kind of question is this? "What ledger with integrity"?

"What ledger with integrity allows 800,000 of its coin to be lost to Mt.Gox"

The ledger is neutral. Its users decide on the integrity of its use. If they decide to confer some of the main ledger's unit to a corrupted subchain then they are responsible for the ensuing risks. At the end of the day the main ledger is not affected by the failure of one of its sub ledger.

A ledger that allows those gox coins to simply change hands to those of the attacker, not one where the coins vaporize.

The mechanism by which the sub-ledger is corrupted changes nothing to the argument.

Sure it does. The derivative SC's will enable a new type of hack or attack we've never heard of or seen before in Bitcoin. Maybe we can call it the "decapitation attack".

and to that I answer

Quote from: brg444 on November 07, 2014, 11:41:11 PM

The risk is the same : to trust your money elsewhere than on the blockchain. The schemes to deceive people into doing so might increase in numbers with sidechain but the risk is the same.

As for your second comment, I'm sorry but they absolutely should understand it. It is the very principle of Bitcoin : creating a trustless environment. It took a long time for Bitcoin to establish this status and it should be obvious that any step outside of its circle exposes you to risk that should be accounted for.

Also, I have some difficulty with your proposition that "ordinary people" will be trusting their money to all kind of obscure sidechains. Ordinary people only trust mainstream and established platforms. It is very unlikely the majority of them will fall victim to overlycomplicated schemes.