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Agreed, that's an extreme but reasonably plausible scenario. In general, I don't think there's much you can do on this earth that could resist such a coalition.
by oersted 3y ago
Agreed, that's an extreme but reasonably plausible scenario. In general, I don't think there's much you can do on this earth that could resist such a coalition.
I guess some encryption could hold even if the whole world agreed to break it, so there might still be a gap for an absolutely indestructive currency. Of course, excluding aliens or future generations with sufficient technology, or total data erasure somehow. Or our extinction, but it's not a fault of the currency if there's no one to give it value.
You don't even need to get that far, perhaps you don't even need 51% of miners. A much lower percentage of people loosing faith in the value of the currency, or just agreeing not to value it, or just realizing it's not actually very useful, would be enough to kill it. Most of the value of crypto is speculative anyways, when the bubbles burst, the actual real utilitarian value of the currency that is left is small enough that it just gets crushed with the momentum of the bank run.
That's a much larger threat in practice, and it has happened to a lot of crypto over the years.
Just throwing some thoughts out for the sake of conversation, this has already been endlessly discussed much more thoroughly for nearly two decades. I'm not even much into crypto, it's just fun to think about the possibilities.