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With Bitcoin as popular as it is, it would be an increasingly lucrative strategy to short BTC, damage the network, re-buy low, and undo the damage. Sure, this i
by btown 13y ago
With Bitcoin as popular as it is, it would be an increasingly lucrative strategy to short BTC, damage the network, re-buy low, and undo the damage. Sure, this is sort of a one-time use weapon, but there's no reason to believe that GHash.io's operators are in this for the long haul - perhaps, in the words of that amazingly catchy television commercial, they "need cash now."
- josu 13y agoIt is currently pretty much impossible to short large quantities of bitcoins. Besides, such an attack would probably crash the whole system which could render the potential shorts useless. Too much uncertainty for anything that big. I really can't see the way for anybody to benefit from a 51 attack. However, a potential attack will probably be a black swan, which will make it "impossible" to foresee for 99% of us, so the fact that there isn't any clear way to benefit from it, doesn't actually mean that there isn't a way.