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I think the deadly attack on Bitcoin is not anyone gaining 51% of the network, but rather DoS'ing its ability to conduct real transactions. Bitcoin is not cons
by tdfx 7y ago
I think the deadly attack on Bitcoin is not anyone gaining 51% of the network, but rather DoS'ing its ability to conduct real transactions. Bitcoin is not considered a threat right now but if that ever changes, just remember the US government "lost track of" $9bn while "reconstructing" Iraq and it didn't even seem to concern anyone. That kind of money could make transactions prohibitively expensive on the Bitcoin network for quite some time if the government's posture towards cryptocurrency ever hardens.
[1] https://www.theguardian.com/world/2005/feb/01/iraq.suzannegoldenberg https://www.theguardian.com/world/2005/feb/01/iraq.suzannego...