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Title: Interview With Jeff Smith, CIO CEX Post by: pollen_bit on September 30, 2014, 01:05:12 PM Interview With Jeff Smith, CIO CEX:
Harming Bitcoin will be economically impractical http://www.iamsatoshi.com/harming-bitcoin-economically-impractical/ Title: Re: Interview With Jeff Smith, CIO CEX Post by: monim1 on September 30, 2014, 06:08:14 PM Not entirely impractically if you're the US Govt, but very very very expensive ;D Estimates are around $666m right now, to do a 51% attack [1].
--- [1] http://www.coinometrics.com/bitcoin/rix Title: Re: Interview With Jeff Smith, CIO CEX Post by: Kprawn on September 30, 2014, 07:37:16 PM I certainly hope it's US $ and not Zimbabwe $ ;D ;D
Seriously ... It's just too much money for too little gain. Why would any sane person even want to waste that amount of money, to do that. This is just a non-issue. Title: Re: Interview With Jeff Smith, CIO CEX Post by: monim1 on September 30, 2014, 09:32:58 PM Well, some people actually suspect the US govt actually created Bitcoin - https://news.ycombinator.com/item?id=5547423
Probably in the same category of people who believe 9/11 was an inside job though. Title: Re: Interview With Jeff Smith, CIO CEX Post by: tzortz on September 30, 2014, 10:10:53 PM Nice link , thanks.
Title: Re: Interview With Jeff Smith, CIO CEX Post by: TheClownSong on October 01, 2014, 12:11:01 AM Not entirely impractically if you're the US Govt, but very very very expensive ;D Estimates are around $666m right now, to do a 51% attack [1]. Even if you were to successfully launch a 51% attack on the network, the "honest" nodes and miners could simply ignore the blocks that were found by the attacking miners so the 51% attack would ultimately not work. --- [1] http://www.coinometrics.com/bitcoin/rix Also any 51% attack must be sustained over the long term and not just over a few hours or a few days, as the network could simply do a soft fork from when the attack had started if it ends early enough Title: Re: Interview With Jeff Smith, CIO CEX Post by: BayAreaCoins on October 01, 2014, 01:14:23 AM Not entirely impractically if you're the US Govt, but very very very expensive ;D Estimates are around $666m right now, to do a 51% attack [1]. --- [1] http://www.coinometrics.com/bitcoin/rix You could do a 51% attack with a subsidized mining pool and the greedy ass miners. It would be far cheaper than $666 million :P |