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>If a state actor, such as China, was motivated enough to identify, capture and coerce these miners it would be pretty easy to perform a 51% attack given that C
by SkyBelow 6y ago
>If a state actor, such as China, was motivated enough to identify, capture and coerce these miners it would be pretty easy to perform a 51% attack given that China accounts for around 65% of all bitcoin mining globally.
This is because people don't consider it likely. Once it happens, people will move to new crypto and will devalue any crypto that is too centrally mined by a single country.
- andreilys 6y agoWhy wouldn’t it be likely? Currency flight from China is a serious problem, and the CCP has instituted controls to make sure money doesn’t leave the country (except for some permitted amount) I don’t think it’s unlikely that BTC gets cracked down on by the CCP if they notice that a large volume of citizens are using it to skirt capital controls.
- SkyBelow 6y ago>Why wouldn’t it be likely? What matters is public perception of if it could happen, not if it can happen.