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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 komaromy 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.
How much hashing power resides in China? I was under the impression that it's >50%.
It would cost the Chinese government a lot less than $2B to raid all those farms and take their equipment.
- amenod 9y ago... or more likely, to just order them - but what could they do? Double spend? Transfer Satoshi's money to some new address?
- freeloop3 9y agoFreeze any address they like. Freeze the entire network, preventing any transaction from going through, by mining empty blocks.
- mrep 9y agoThere is and considering how powerful the chinese government is, they could do it easily: 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...
- tigershark 9y agoAs far as I know is ~80% unless where I read it was spreading misinformation.