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> Nobody can stop it. Simple answer: yes, they can. For example a state actor or a crazy billionare could spend enough money to launch a 51% attack. Indeed the
by wslh 3y ago
> Nobody can stop it.
Simple answer: yes, they can. For example a state actor or a crazy billionare could spend enough money to launch a 51% attack. Indeed the theoretical attack requires only around 20% of mining power.
Also, the next generation of people could choose another blockchain, Bitcoin turns irrelevant because another blockchain surpasses it in the audience.
- yownie 3y agoIt would now requires more like a trillion and they would also have to KEEP spending or everyone could just switch chains at point.
- bufferoverflow 3y agoEven if you had the money, there's not enough hardware for sale to get 20% of mining power. Not even 2%. High-end mining hardware (most efficient) is almost always sold out.
- wslh 3y agoState actors could build those ASICs or use proxies.
- bufferoverflow 3y agoIt's not that easy. Russia has been trying to build their own competitive chips for decades with no luck. All their attempts lag modern chips by multiple generations. You would need to duplicate TSMC to create enough ASICs.