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Author Topic: Thought Experiment on Super Computing and Bitcoin Generation Difficulty  (Read 8985 times)
cypherdoc
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April 26, 2011, 02:52:46 AM
 #61

Quote from: Cdecker
Well, yes, but this is a catastrophic scenario where it would be easy to get all developers of all clients to agree on resetting the difficulty to the last known good value. As long as we can get 50%+ to use a client we can do whatever we want with Bitcoin ^^

Kind of tough to do when the creator of the super fast computer is the Chinese government and China is the largest user of bitcoin. (Which is probably one of the more plausible scenarios for my given example).

what makes u say China is the largest user of btc?
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FreeMoney
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April 26, 2011, 03:14:25 AM
 #62

Quote from: Cdecker
Well, yes, but this is a catastrophic scenario where it would be easy to get all developers of all clients to agree on resetting the difficulty to the last known good value. As long as we can get 50%+ to use a client we can do whatever we want with Bitcoin ^^

Kind of tough to do when the creator of the super fast computer is the Chinese government and China is the largest user of bitcoin. (Which is probably one of the more plausible scenarios for my given example).

what makes u say China is the largest user of btc?

Lol, maybe all those Chinese students.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
em3rgentOrdr
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April 26, 2011, 03:43:37 AM
 #63

Quote from: Cdecker
Well, yes, but this is a catastrophic scenario where it would be easy to get all developers of all clients to agree on resetting the difficulty to the last known good value. As long as we can get 50%+ to use a client we can do whatever we want with Bitcoin ^^

Kind of tough to do when the creator of the super fast computer is the Chinese government and China is the largest user of bitcoin. (Which is probably one of the more plausible scenarios for my given example).

what makes u say China is the largest user of btc?

Lol, maybe all those Chinese students.

I bet that China government will adopt bitcoin before US.

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
MoonShadow
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April 26, 2011, 04:18:47 AM
 #64

Quote from: Cdecker
Well, yes, but this is a catastrophic scenario where it would be easy to get all developers of all clients to agree on resetting the difficulty to the last known good value. As long as we can get 50%+ to use a client we can do whatever we want with Bitcoin ^^

Kind of tough to do when the creator of the super fast computer is the Chinese government and China is the largest user of bitcoin. (Which is probably one of the more plausible scenarios for my given example).

what makes u say China is the largest user of btc?

Lol, maybe all those Chinese students.

Those are Chinese, not China.  The only scenario wherein China recognizes Bitcoin in any positive context is if the US government begins to assault Bitcoin discretely.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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