this post was submitted on 19 Jun 2023
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"A few double spends" is underestimating the impact. When this has happened in the past, the whole network gets fragmented, and at some point everyone needs to decide which version of history to throw out, allowing potentially anyone to double-spend in that time frame. A bad actor with enough compute could cause a network split and put whatever they want in the ledger. Getting caught isn't really a concern if it's all anonymous wallets, and it only takes 1 unnoticed transaction to move millions.
The entire basis for trust in Bitcoin (and any proof of work blockchain) is that the network is so big, no single actor has the resources to become a majority and influence the ledger.