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What type of attack do you envision? Say country A trades goods with country B and they pay each other in Bitcoin. Now what could country C do about it?
by ArtTimeInvestor 1y ago
What type of attack do you envision?
Say country A trades goods with country B and they pay each other in Bitcoin.
Now what could country C do about it?
- praptak 1y agoDDoS on Bitcoin via combination of a war chest of zero-days and physical destruction of internet infrastructure. Maybe combined with a takeover by spinning up enough of own miners.
- ArtTimeInvestor 1y agoThe Dollar won't work without internet either. Unless you put dollar notes on a ship and send it across the ocean. But that is extremely slow and cumbersome. And having that ship shot down and the notes destroyed is even worse. What do you mean by "takeover"?
- praptak 1y agoGold will work without the internet though. > What do you mean by "takeover"? I meant a 51% attack by a state actor.
- ArtTimeInvestor 1y agoGold works without the internet but it is very slow and cumbersome to ship gold across the ocean to pay for goods. Building out 51% of the world's hashrate is probably possible, especially for a country like the USA who already has something like 40%. But it is still much harder than to just press a button and deny other countries to use the Dollar.