3 ms·

Something like 65%. Locating and coordinating all entrepreneurs (thousands dispersed and not broadcasting a location) to attack the network would be highly unl

Something like 65%. Locating and coordinating all entrepreneurs (thousands dispersed and not broadcasting a location) to attack the network would be highly unlikely and a bit of a tin foil hat scenario. If a 51% attack occurred it would need to be sustained and in the end would likely result in a fork of the chain.

Hamuko 6y ago
>not broadcasting a location How many ASICs are located in places that use a trivial amount of electricity that cannot be deduced to be a part of a mining operation?
- trident5000 6y ago
  Theres a lot of energy usage in China that eclipses btc energy usage by several orders of magnitude (factories, etc). Much of the mining is from small operations. Locating and coordinating thousands or tens of thousands would be very difficult and also pointless. This has been a topic for 8ish years and goes along with the people who talk of a global power outage.
tablespoon 6y ago
>> How many ASICs are located within territory controlled by the Chinese Communist Party? > Something like 65%. Locating and coordinating all entrepreneurs (thousands dispersed and not broadcasting a location) to attack the network would be highly unlikely and a bit of a tin foil hat scenario. If a 51% attack occurred it would need to be sustained and in the end would likely result in a fork of the chain. You forget that the Chinese internet is heavily monitored, run by state-owned businesses, with all external traffic going through government-controlled choke points running a big famous firewall. Literally every network connection and online account is required to be linked to someone's official ID. I'm pretty sure the Chinese government could track down every Bitcoin miner in China in fairly short order. They just need to program the great firewall to detect bitcoin protocol traffic (they already detect VPN protocols), then cross reference that with their telecom account records. These are things they already do on a regular basis, as part of the current monitoring efforts. If they want to be really sure they're targeting miners, they could probably cross reference that again with data from the state-owned power companies, but I'd guess that they don't do that often so it would take more work.
- trident5000 6y ago
  "I'm pretty sure the Chinese government could track down every Bitcoin miner in China in fairly short order." You sound pretty confident so Ill let you explain step by step how that goes.
  - tablespoon 6y ago
    > You sound pretty confident so Ill let you explain step by step how that goes. Did you see where I already outlined it? The Chinese government already clearly has the tools and capabilities they'd need to track down Bitcoin miners already in-place and used for similar tasks. Probably the only thing stopping them is that they don't care about Bitcoin to bother.

Hamuko 6y ago

>not broadcasting a location How many ASICs are located in places that use a trivial amount of electricity that cannot be deduced to be a part of a mining operation?

trident5000 6y ago
Theres a lot of energy usage in China that eclipses btc energy usage by several orders of magnitude (factories, etc). Much of the mining is from small operations. Locating and coordinating thousands or tens of thousands would be very difficult and also pointless. This has been a topic for 8ish years and goes along with the people who talk of a global power outage.

tablespoon 6y ago

>> How many ASICs are located within territory controlled by the Chinese Communist Party? > Something like 65%. Locating and coordinating all entrepreneurs (thousands dispersed and not broadcasting a location) to attack the network would be highly unlikely and a bit of a tin foil hat scenario. If a 51% attack occurred it would need to be sustained and in the end would likely result in a fork of the chain. You forget that the Chinese internet is heavily monitored, run by state-owned businesses, with all external traffic going through government-controlled choke points running a big famous firewall. Literally every network connection and online account is required to be linked to someone's official ID. I'm pretty sure the Chinese government could track down every Bitcoin miner in China in fairly short order. They just need to program the great firewall to detect bitcoin protocol traffic (they already detect VPN protocols), then cross reference that with their telecom account records. These are things they already do on a regular basis, as part of the current monitoring efforts. If they want to be really sure they're targeting miners, they could probably cross reference that again with data from the state-owned power companies, but I'd guess that they don't do that often so it would take more work.

trident5000 6y ago
"I'm pretty sure the Chinese government could track down every Bitcoin miner in China in fairly short order." You sound pretty confident so Ill let you explain step by step how that goes.
- tablespoon 6y ago
  > You sound pretty confident so Ill let you explain step by step how that goes. Did you see where I already outlined it? The Chinese government already clearly has the tools and capabilities they'd need to track down Bitcoin miners already in-place and used for similar tasks. Probably the only thing stopping them is that they don't care about Bitcoin to bother.