4 ms·
Seems like it would be very difficult to make back your $300k with a double-spend in one hour, based both on my intuition and the fact that it doesn't appear to
by baddox 8y ago
Seems like it would be very difficult to make back your $300k with a double-spend in one hour, based both on my intuition and the fact that it doesn't appear to be happening.
- michaelmrose 8y agoIf I'm reading it correctly you need 600k to have a 50/50 chance at double spending. So say you acquire 500k in bitcoin and you spend $600k to have your chance to double spend the 500k. Assuming your $600k in mining actually gets you $600k in bitcoins mined the expected result is. 50% chance spend 1.1 million get 1.1 million back minus substantial overhead. Say 10% overhead although I have no idea what the actual overhead would be. So negative 100k. 50% chance spend 1.1 million + 100k overhead get 1.6 million back. Net gain of 400k So average gain of 200k assuming you can find a market to move that much bitcoin that quickly and always assuming your creativity isn't rewarded with jail time. People with substantial resources can find way to make money that are repeatable and don't involve finding new and exciting ways to go to jail.