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Author Topic: Bitcoin bubble crash @ 100$ Summer of 2013?  (Read 8953 times)
humanitee
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April 08, 2013, 07:51:27 PM
 #81

According to CNN one US soldier stationed in Afghanistan costs around 1 million dollars per year to "fight terrorism". So the cost to fight or control BitCoin will be the equivalent of 20 US Soldiers per year, thats nothing for NSA with billions in budget. The FBI and IRS will also love bitcoin since its tracable, they will easily track down and screw people for small crimes.

Our beloved bitcoin might become the fiat-beast we wanted to abandon.

LOL
wat

Yes The Government can have 90% control over bitcoin network with the budget of 20 soldiers = 20 million dollars

20 US Soldiers = 20 million dollars =>
$20 000 000 / $1000 = 20 000 ASICs
20 000 * 60 Ghash = 1 200 000 Ghash compared to 60 000 GHash today

Who is shipping 20,000 ASIC's.

In before you tin foil with some crazy idea that the black ops CIA alien collaboration is working on mass producing ASICs..

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gollum
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April 08, 2013, 07:55:05 PM
 #82

If some teenage geeks can produce 1000 Avalon ASIC then it shouldnt be any problem for NSA to produce 20 000 ASICs on contract.
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April 08, 2013, 10:55:54 PM
 #83

-Risk of 51% takeover - Bitcoin can esaily be controlled by governments, corporations or maffia with an investment of a few million dollars in ASIC-computers. They can use their 51%+ hashing rate to either screw the network or block some accounts that they dont like. Anyone investing 20 million dollars in ASIC right now will have 90% of the network.

Is this really true ? sounds like something to maybe fear ?

It is the only thing we should fear. Hopefully ASIC will become mainstream before "they" actually think about it.

But Governments are not that stupid.
They maybe even read this post ;(

Oh yes they ARE stupid. If not they were buying bitcoins right now. It will be the money of choice to finance their dark activity.

I read this in some other tread:
"A first world government could launch a 51% attack on Bitcoin, but it would be quite pointless. The blockchain would just be reset back to before the attack happened and a patched client that rendered the 51% attack useless would be released"

Is this possible to reset back, and realese new client Smiley ?
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April 08, 2013, 11:48:33 PM
 #84

great so just a few months for some cheap coin

this
+1

I am then on board with a bigger amount of bitcoins  Grin

You dick
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