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Actually this ignores the fact that bitcoin uses ASICs now, and every ASIC built for bitcoin hashing is probably already hashing. Semiconductor production can'
by dannyw 5y ago
Actually this ignores the fact that bitcoin uses ASICs now, and every ASIC built for bitcoin hashing is probably already hashing.
Semiconductor production can't be scaled up instantly, so 51% attacks require seizure of assets.
Even if the USA purchased every single CPU, GPU, FPGA, and ASIC made in the next month, it's unlikely they will have more than 10% of the network or so.
To seize the majority of the hashpower, they'd have to seize Chinese miners, which require either US-China cooperation or a world war.
- Gaelan 5y agoI mean it doesn’t require ASICS, it’s just inefficient not to, right? Shouldn’t it be theoretically possible to mount a 51% attack with conventional CPUs (or GPUs), just a lot more of them? I have no idea what kind of computing resources various major states have, but I wouldn’t completely write off the possibility that they have enough CPUs to throw at the problem.
- dannyw 5y agoBitcoin is currently 170 exahashes per second, or 170 x 10^18. The latest and greatest Intel i7 can do maybe 30 mh/s. You would need more than all cpus produced in history. I can believe G7 secretly having a third of total known CPU compute. I can't believe G7 secretly having multiples of all known CPU compute.
- tinus_hn 5y agoAnd be wanting to reserve it all for a longer period of time to disrupt the Bitcoin network.
- sudomakeup 5y agoThey can certainly do it for any "ASIC resistant" coin