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The risk is not in governments profiting from adding hashing power to the network, the risk is in them obtaining a majority of the hashing power and doing a 51%
by peterjancelis 14y ago
The risk is not in governments profiting from adding hashing power to the network, the risk is in them obtaining a majority of the hashing power and doing a 51% attack.
- feral 14y agoAs an additional point to this, something I often don't see acknowledged is that ASICs have to be produced by chip fabs, which due to their nature are capital intensive and centralized, and hence relatively easy to bring under government control. I guess that as a result, it'll always be possible for governments to get majority hashing power, by taking control of where the ASICs are produced.
- peterjancelis 14y agoIf you are afraid of ASICs you should look into Litecoin.
- zerohp 14y agoThe NSA already has their own chip fab.