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And especially would fall apart at the step where Lockheed takes all that confiscated material and sets up a centralized operation. Never in a million years wou
by camjohnson26 6y ago
And especially would fall apart at the step where Lockheed takes all that confiscated material and sets up a centralized operation. Never in a million years would China/Russia allow that.
- api 6y agoSo imagine they build it from scratch instead. That would cost a bit more, but still very little compared to what governments can muster. The central point that any large nation state has more than enough resources to 51% Bitcoin is entirely valid.
- gfodor 6y agoYes, but the problem is that it's hard to imagine a world where a large nation state (or group of states) collaborates on a 51% attack and there are no other nation states trying to counter that effort.
- api 6y agoIn that case it turns into something resembling the Reagan spend-the-USSR-to-death Cold War strategy. While China and Russia may see some value in BTC weakening US hegemony, I wonder how much they'd be willing to spend to defend it. Right now the USA can probably spend more and also de-facto controls TSMC (Taiwan is a US client state), the most advanced fab that could make the most power efficient mining chips.
- gfodor 6y agoYes unfortunately in this case this arms race would cause a massive spike in energy costs and CO2 emission.