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Re: Predatory Sparrow 

By: Zimbler0 in GRITZ | Recommend this post (1)
Thu, 19 Jun 25 9:33 PM | 11 view(s)
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Msg. 09984 of 10011
(This msg. is a reply to 09945 by De_Composed)

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Decomposed > Is that the scenario you were asking about? If it is, then I apologize for not understanding.


To be honest De,
I know that I do not know enough about crypto coins to even begin to ask the 'right questions'.

But . . . So crypto currency coins 'data' is kept in the form of a 'blockchain' . . .

>>>
A crypto blockchain is a decentralized digital ledger that records all transactions made with cryptocurrencies, such as Bitcoin and Ethereum. It allows for secure and transparent peer-to-peer transactions without the need for a central authority like a bank.
>>>

So a blockchain is a 'chunk of data' - possibly even an 'Object Oriented' chunk of data and code. But it still has to reside on one or more servers meaning 'somebody' has to maintain the servers and data and backups.

And now I learn that there are 'keys' . . .

Anyway, I am of the opinion that anything stored on a computer with internet access is vulnerable to 'internet theft'. And the more value the thing has the greater the probability of 'somebody' figuring out how to steal it.

Zim.




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Mad Poet Strikes Again.


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The above is a reply to the following message:
Re: Predatory Sparrow
By: De_Composed
in GRITZ
Thu, 19 Jun 25 8:23 AM
Msg. 09945 of 10011

Zimbler0:

Re: mt's claim, “The correct answer is 'all but one' - One is NOT sufficient to provide valid transactions. At least TWO are required for validity.”
My answer was correct. The entire global network would have to be destroyed. If even one node survived - or a backup for that matter - the blockchain would be intact and the distributed network could be reestablished. This is a far fetched enough scenario to not be worth worrying about though. Bitcoins are not kept on centralized servers and nothing short of an extinction-level event would take all the nodes out.

I'm wondering, though, whether I misunderstood your initial question - hence, the reason this post is directed to you. It's possible for the private keys that some services manage for their customers to be lost in a server crash. If the backups also fail - and I've know that to happen - then some of the customers' accounts would be unreachable.

Is that the scenario you were asking about? If it is, then I apologize for not understanding.







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