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Run the math for Ethereum and it's even crazier. Something like $15m in cloud computing resources and you can control the eth network valued at >$30 billion.
by nugget 9y ago
Run the math for Ethereum and it's even crazier. Something like $15m in cloud computing resources and you can control the eth network valued at >$30 billion. For this reason I can't imagine "shorting" these cryptocurrencies will be possible any time soon as the incentives for attack would be too great. The price asymmetry could resolve in a number of different ways and it will be interesting to watch how it unfolds.
- merkaloid 9y agoIt would be valued as something closer to 0 if you did take it over.
- IamCarbonMan 9y agoIf you take over the entire thing yes. But the DAO hack demonstrates how easy it can be for an attacker to make off with a whole lot of ETH.
- mquander 9y agoIt does? That attacker made off with 0 ETH. Admittedly they made off with some ETC.
- haakon 9y ago> I can't imagine "shorting" these cryptocurrencies will be possible any time soon You can short Bitcoin, Ethereum and many other cryptocurrencies on a number of exchanges right now.