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While there is certainly some amount of quantifiable risk given how centralized mining is in China, each individual mining actor is still incentivised not to pa
by Phlarp 9y ago
While there is certainly some amount of quantifiable risk given how centralized mining is in China, each individual mining actor is still incentivised not to participate in a 51% double spend attack as the value of bitcoin would rapidly fall towards zero if a double spend attack ever did occur, making their ASIC investments unprofitable in a hurry.
- jacobush 9y agoI don't know. It's like nukes. They say, no one would use them, because that would let the cat out of the box. But... on the other hand, what would happen if someone used only a single nuke? Could we get to the circumstance that Bitcoin was "too large to fail" and a someone could get away with a double spend?