Currently the bitcoin network is running around 70,000 Ghash/second. Are you aware of what kind of resources are required to perform this 'trivial' hack? If it was so trivial, why hasnt the 51% attack happened already? Its a $1B system - clearly the prize is worth the effort.
The beauty of Bitcoin is that if you somehow had access to such computing power to perform the attack, you'd probably be better off just being an honest node. You'd make a shiteload of legit money without all the hassle associated with splitting the block chain.
So yes, I'll stick with the argument that Bitcoin does solve the Byzantine Generals problem.
Theoretically speaking, even if the 51% attack did occur, it just reinforces that Bitcoin does solve the Byzantine Generals problem! If 51% of generals act in a certain manner in a decentralised network - you want this to be the truth! The decentralised network is correctly picking the majority vote!
So can you explain your reasoning? It seems by every criteria, Bitcoin meets the requirements of the BG problem.
Currently the bitcoin network is running around 70,000 Ghash/second. Are you aware of what kind of resources are required to perform this 'trivial' hack? If it was so trivial, why hasnt the 51% attack happened already? Its a $1B system - clearly the prize is worth the effort.
The beauty of Bitcoin is that if you somehow had access to such computing power to perform the attack, you'd probably be better off just being an honest node. You'd make a shiteload of legit money without all the hassle associated with splitting the block chain.
So yes, I'll stick with the argument that Bitcoin does solve the Byzantine Generals problem.
Theoretically speaking, even if the 51% attack did occur, it just reinforces that Bitcoin does solve the Byzantine Generals problem! If 51% of generals act in a certain manner in a decentralised network - you want this to be the truth! The decentralised network is correctly picking the majority vote!
So can you explain your reasoning? It seems by every criteria, Bitcoin meets the requirements of the BG problem.