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In my attempts to learn more about crypto, I've been reading about 51% attacks and thinking that a nation state or states working together could destroy Bitcoin
by mwattsun 5y ago
In my attempts to learn more about crypto, I've been reading about 51% attacks and thinking that a nation state or states working together could destroy Bitcoin if they wanted to. This Kazakh situation is another piece of the puzzle: Nation states could turn off the biggest miners before launching the 51% attack
With a per-unit consumption of 3250 W, that would put the electricity capacity needed to power all those ASICs at ~4.4 GW of power. That limits the possible candidates to pull off such a huge endeavor to powerful nation states who would work in coordination with large energy producers. (Jan 2020)
https://braiins.com/blog/how-much-would-it-cost-to-51-attack-bitcoin https://braiins.com/blog/how-much-would-it-cost-to-51-attack...
- Proven 5y ago