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Bitcoin users should not overlook cryptocurrency's fundamental flaw

Much vaunted blockchain security is more useless than the Maginot Line

| East Asia
A neon logo of Bitcoin in Buenos Aires on May 5: To use cryptocurrency necessitates intense self-discipline.   © Reuters

Kelvin Low is professor of law at the National University of Singapore.

In light of the recent cryptocurrency meltdown and the mounting criticism of a technology that has promised much but delivered little, it is useful to revisit Satoshi Nakamoto's Bitcoin white paper and consider what it gets wrong and why many believe that blockchains cannot work.

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