Greg Leininger

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What keeps Bitcoin nodes honest, individually, is that if they were dishonest, they would be discovered immediately, making dishonesty exactly as effective as doing nothing but involving a higher cost. Collectively, what prevents a majority from colluding to be dishonest is that if they were to succeed in compromising the integrity of the ledger of transactions, the entire value proposition of Bitcoin would be destroyed and the bitcoin tokens' value would collapse to nothing. Collusion costs a lot, but it would itself lead to its loot becoming worthless. In other words, Bitcoin relies on ...more
The Bitcoin Standard: The Decentralized Alternative to Central Banking
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