id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
davidgerard-co-uk-6965		Bitcoin myths: immutability, decentralisation, and the cult of “21 million” – Attack of the 50 Foot Blockchain			.html	text/html	5229	383	75	Bitcoin myths: immutability, decentralisation, and the cult of "21 million" – Attack of the 50 Foot Blockchain The doomsday scenario in early Bitcoin was a "51% attack" — if you had 51% of mining, you could block anyone else's transactions and accept only those you wanted, and the Bitcoin blockchain would read the way you wanted it to. Peter Ryan's essay "Bitcoin's Third Rail: The Code is Controlled" details how the Bitcoin development process works in practice: you submit changes to a core group, who then decide whether this is going in. Crypto trading solved the tawdry nuisance of dollars being regulated by using tethers instead, and cashing out your bitcoin winnings through Coinbase or Bitstamp as gateway exchanges. Lightning's promise of thousands of transactions per second can obviously only work if you have large centralised entities who almost everyone opens channels with. There are people who would quite like the 21 million Bitcoin limit to change: the miners.	./cache/davidgerard-co-uk-6965.html	./txt/davidgerard-co-uk-6965.txt