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Doesn't the reliability of bitcoin stem from it being very difficult for any one entity to control over 50% of the computing power in the network? News like thi

Doesn't the reliability of bitcoin stem from it being very difficult for any one entity to control over 50% of the computing power in the network? News like this makes it seem like a state sponsored actor could do it without too much trouble.

wmf 13y ago
It's easy to get over 50% of the hashing power: just buy it. Bitcoin is especially vulnerable during technology transitions; e.g. in July 2010 a single Radeon GPU was more powerful than the entire Bitcoin network so you could have performed a 51% attack for $300 plus some epic hacking.
- xyzzy123 13y ago
  Right, but of course Satoshi's argument is that it would be far more valuable for you to have just used that Radeon to mine ;)
  - dragonwriter 13y ago
    > Right, but of course Satoshi's argument is that it would be far more valuable for you to have just used that Radeon to mine Value depends on personal desire... Not all people want the same things.
    - xyzzy123 13y ago
      That's why we use money to exchange goods and services ;)