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> The central question: If the entire resources of all world governments were brought to bear on the task of destroying Bitcoin, what would be the most effectiv
by mrep 9y ago
> The central question: If the entire resources of all world governments were brought to bear on the task of destroying Bitcoin, what would be the most effective way to do this?
Buy a bunch of hardware to own 51% of the network and make a bunch of illegal transactions which will destroy trust in the system. The US has a federal budget of $3.8 trillion. That's pocket change to them. Or if it's china just force the companies with ASIC's to do it for you: https://medium.com/@homakov/how-to-destroy-bitcoin-with-51-pocked-guide-for-governments-83d9bdf2ef6b https://medium.com/@homakov/how-to-destroy-bitcoin-with-51-p...
- ryanwaggoner 9y agoI think that by the time you could muster the political will to put a large fraction of the budget into countering this threat, it’d be far too late. And I could see other governments not wanting the US to own / destroy the network and countering with their own investments. Actually, I wonder if in the long run governments will be the miners.