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> The sole way a government can kill it -- any government -- is to invest >$2B into getting >51% hash power, then launching coordinated malicious doublespends f
by ckarmann 9y ago
> The sole way a government can kill it -- any government -- is to invest >$2B into getting >51% hash power, then launching coordinated malicious doublespends for the purpose of shattering faith in bitcoin.
I am not a bitcoin expert at all, I'm actually only starting to look at these things, so I am a bit surprised you sound so confident when saying $2B, because my reaction was: that's all, 2 billion US dollars is all it take to take down Bitcoin? That's pocket money for the US government, and easily achievable for most private banks, very rich individuals and even organized crime.
> That's it. There's no other way.
Also, it seems to me that Bitcoin is based on softwares. Softwares have vulnerabilities. I guess of course if something big happens, like SHA256 being broken, we would have bigger problems than Bitcoin.
- RoboTeddy 9y ago> 2 billion US dollars is all it take to take down Bitcoin? Right -- this is one of the reasons why some people think PoS is better than PoW. Much more expensive to permanently attack in this manner. Realistically, if Bitcoin were attacked in this manner, the community would probably respond by switching its proof of work function. If attacks continued, it'd probably end up doing PoS. So an actual attack might be much more expensive/likely to fail.