Bitcoin Forum
December 04, 2016, 08:33:20 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Isnt it a fatal flaw that bitcoin can be manipulated by someone with 51% of MHs  (Read 3076 times)
makomk
Hero Member
*****
Offline Offline

Activity: 686


View Profile
July 19, 2011, 06:13:16 PM
 #21

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.
SIGS ABOUT BUTTERFLY LABS ARE PAID ADS
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!