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51% attacks don't allow you to mine arbitrary amounts of Bitcoin. At worst they could DoS the Bitcoin network and double-spend their funds, but the recipients (
by tlrobinson 13y ago
51% attacks don't allow you to mine arbitrary amounts of Bitcoin. At worst they could DoS the Bitcoin network and double-spend their funds, but the recipients (their own citizens? other governments?) would find out and be pissed.
- PeterisP 13y agoDoS it long enough, and you in effect confiscate/destroy the wealth of all Bitcoin holders, if you wish so; and as they have the most experience in producing specialized crypto-processing hardware on a large scale, it wouldn't be that expensive when compared to the [future] value of Bitcoin network. Others getting 'pissed'? What are they going to do? The very limited consequences of Snowden-leaks pretty much show that they can do such things and ignore protests, if the government leaders are okay with that.
- moron4hire 13y agoThe citizenry is already pissed and it means nothing. They do what they want.