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Author Topic: Isnt it a fatal flaw that bitcoin can be manipulated by someone with 51% of MHs  (Read 3044 times)
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July 19, 2011, 06:13:16 PM

You are assuming the options contracts would be honored. A better solution would be to short-sell the bitcoins, then buy them up at after panic ensues.
The trouble here is: how can the person lending you the bitcoins to short-sell trust that you'll be able to repay them? The usual solution is to do your short selling via a trading account at a trustworthy institution, but Bitcoin is very much lacking in those. It's one of the reasons you're unlikely to see any Bitcoin naysayers putting their money where their mouth is; if you think that Bitcoin is going to end in disaster letting your money anywhere near it is a bad idea.

Quad XC6SLX150 Board: 860 MHash/s or so.
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