Hello my friend!
Thanks for reading my ramblings and taking the time to comment.
RE: Your Questions and Relevant Tangents
I left out many intermediate steps that need to be accomplished and all the military, governmental and white hat watchdog groups that would have to be fooled or bribed.
But yes, it could be done.
It would take a think tank of geniuses, buqu money and a battalion of input and maintenance drones.
Justified paranoia over tech?
If someone says their algorithm performs perfectly in all scenarios (meaning "hack-proof"), they're either rookies or liars - probably both.
There's no such thing as perfect code.
Period.
But that said, I would still trust code over greedy middlemen with my money every time.
Why?
Because compared to the pyramid structured legacy of "trusted" third parties and the myriad of inherent human frailties, decentralized systems offer me the best chance of fair treatment.
There will be collateral damage when IoT (internet of things) and pervasive AI becomes the norm.
I predict that many of our current "authorities" that we put on a pedestal will be supplanted by algorithms - impartial mathematical code not tainted by generations of corrupt idolatry.
In our lifetime, only the top professionals of every field will survive the digital culling.
They will serve as last-resort arbiters when the instant, reliable and cheap system encounters a rare outlier it hasn't been programmed to handle.
In short, there will be far less practicing lawyers, doctors, bankers, professors, policemen, real estate agents... you name it.
So, your takeaway from all of this?
Adjust your tech-averse levels of discomfort to your exposure minus the cost and hassle of past (legacy) alternatives.
I'd better stop now before this comment becomes a book draft.
May you and yours be well and love life today.
In lak'ech, my friend.
JaiChai
RE: Exposing the 51% Attack Myth