Why would the nodes be aware of the longest block chain?
You would need to control 100% of the network view of the node to fool the node.
Lets, for the sake of the argument, assume they don't. What makes you so sure I can't make others do the work for me?
You would need to gain access to tons of PCs to take over the network. Not to mention it get harder when the total hashing rate of the network continue to increase. Even then, it will be very noticeable that somebody is attempting to doublespend.
but actually, BitCount identities are public/private key pairs and you can have them in an infinite amount.
That have nothing to do with P2P identities.
How do you know it's authentic?
The longest blockchain is considered the most authentic.
IP transactions are depreciated and disabled by default. They are also known to be insecure.
You seem to assume the value of BTC is not going to increase despite them becoming increasingly hard to generate. Are you saying you expect bitcoin to fail?
I acknowledge that Amazon could be profitable, but they are certainly worser option compared to buying ATI 5790s.
You would need to control 100% of the network view of the node to fool the node.
Lets, for the sake of the argument, assume they don't. What makes you so sure I can't make others do the work for me?
You would need to gain access to tons of PCs to take over the network. Not to mention it get harder when the total hashing rate of the network continue to increase. Even then, it will be very noticeable that somebody is attempting to doublespend.
but actually, BitCount identities are public/private key pairs and you can have them in an infinite amount.
That have nothing to do with P2P identities.
How do you know it's authentic?
The longest blockchain is considered the most authentic.
Also: http://www.bitcoin.org/wiki/doku.php?id=ip_address
IP transactions are depreciated and disabled by default. They are also known to be insecure.
You seem to assume the value of BTC is not going to increase despite them becoming increasingly hard to generate. Are you saying you expect bitcoin to fail?
I acknowledge that Amazon could be profitable, but they are certainly worser option compared to buying ATI 5790s.