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So 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 tha
by api 6y ago
So 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.