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I see the ideological foundation for a theoretical 51% attack more aligned with causing mass disruption & chaos than some kind of financial gain. Yes, it would
by vngzs 6y ago
I see the ideological foundation for a theoretical 51% attack more aligned with causing mass disruption & chaos than some kind of financial gain. Yes, it would likely be detected. But it would undermine BTC, lots of people would lose lots of money, lots of businesses would go under, portions of the global banking system would be disrupted and likely pushed back to more centralized alternatives. The most likely threat actor for such an attack would therefore be a nation-state.
China is the only country pushing that kind of hash rate at the moment, so we should analyze whether the move would be beneficial to them in order to determine the risk.