51% Attack

[blacksmithtm]

Wars have been fought over who gets to mint the currency. Its a privilidge. The reason the world adopted the USD was because it was secure because the US military is massive. If Bitcoin keeps growing and becomes some kind of reserve asset some government will declare war on it, and get everyone to use its own currency instead.

And like i said, after a few more halvings there is not going to be alot of money for miners anymore which is when it becomes completely feasible for a government to establish enough hashrate to 51% attack. Actually the smart thing would be to just let Bitcoin get adopted, especially by smaller countries, and then you 51% attack it to force all these countries to use your CBDC instead.

I mean China banned skype in 2010 because they said only China Telecom and China Unicom are allowed to operate VoIP services in the country. Its just a matter of time until they ban bitcoin and 51% attack it because only Chinas Central Bank will be allowed to mint money. And noone can do anything about it.

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[btc-room101]

Stat's always lie,

Recall that 99% of bitcoin 'mining hw' made in China, and it all calls home to 'mother' for updates, firmware, and mining stat's;

Like I said morons will ignore the 500LB gorilla, for seeing defy the entire narrative of bitcoin in the west, in asia of course its a known-known

The funniest part of all this is ASIA owns crypto, but the NSA/BIS/IMF created the bitch, so who is the real mother? Who is the real winner, A trojan horse, or like COVID did a FT-Detrick project simply get fall out of Western Hands?

[btc-room101]

The USD adoption came from bretton-woods, and the saudi compact, that said 'all who want oil, must trade in USD, in exchange house-of-saud got US-GOV mob protection, from its own muslim citizenry, and the USA got to be 'reserve-currency' a few more years, of course it didn't hurt that the USA was still #1 post WW2 in the region;

Today USA/USD is backed by Murder, MIL power to destroy anybody who exits the USD reserve trade system, and only country's on earth who are tip-toeing into the new direction right now are Russia&China, but its baby steps.

Given that BITCOIN came out of the NSA ( MIL INTEL ), its somehow a creepy joke to suggest that BITCOIN is anti-US-MIL.

Hell my favorite ALT is Horizen ( prev called Zen ), and it came out of US NAVY INTEL.

[dansus021]

just like people all said its really expensive and need a lot of resource even they can do successful attack the most people will know the transcation id make hard for selling the bitcoin they have most exchange will freeze the account before make sell any penny

[BayAreaCoins]

Chinese pools have long since found that spamming the bitcoin transactions are farrrrrrrr more profitable than a few week 51%.

no worries.

[btc-room101]

Chinese pools have long since found that spamming the bitcoin transactions are farrrrrrrr more profitable than a few week 51%.

no worries.

Chinese have found that selling crappy used bitmain mining hw to western suckers is most profitable of all

Chinese have found that a two tier pool system, one for the white trash, the other for the asians is also profitable

The fact is NSA/west created bitcoin/shit-coins, but the chinese are making all the money off the white fools.

[amishmanish]

Chinese pools have long since found that spamming the bitcoin transactions are farrrrrrrr more profitable than a few week 51%.

no worries.

Chinese have found that selling crappy used bitmain mining hw to western suckers is most profitable of all

Chinese have found that a two tier pool system, one for the white trash, the other for the asians is also profitable

The fact is NSA/west created bitcoin/shit-coins, but the chinese are making all the money off the white fools.

Dude are you a full blown cuckoo or what?

Pools will never collaborate by themselves for their own economic benefit. That is the whole point of Byzantine fault tolerance.

Coercing the pool operators is something that any Governement authority can do if they were to go full dictatorial. To be honest, if governments decide to do it, of course they can not just 51% attack the network but just destroy all of it.
Though, it still cannot stop dissenters to run anonymous nodes and continue the network even in such dystopian conditions.

Now, the mining hardware concentration is pretty obvious though. There have been attempts elsewhere but none can compete with the supply chain that the Chinese manufacturers have managed (ASIC chips from Taiwanese suppliers). It is nigh impossible to make inroads once these monopolies get established in high end integrated electronics. This does not mean that it is somehow a weakness of the network itself. These are geo-political issues you talk of, those which Bitcoin doesn't care about.

All of your hyperbole-filled arguments with crazy assumptions (90% miners in China) is typical FUD. But this is Bitcointalk and nobody says anything when the likes of you fill pages with FUD. So carry on.

[elisabetheva]

Do we believe and believe that what China is doing with a specific purpose is true and can be ascertained. look at past experiences about 51%. citing some news that circulated among them;

- To exert influence in a foreign country where Bitcoin is in use, China may aim to weaken or even totally destroy Bitcoin. This could be done by targeting specific users or miners for attack or by generally weakening consensus to increase volatility to a breaking point.

Of course there are implications that occur with this and whether there is no protection that can prevent this from happening.
we know that there is ;
The Computer Fraud and Abuse Act (CFAA) seems to clearly encompass 51% attacks, and impose significant penalties on the attacker.

whether it will still be done with a clear risk that is easy to know.

[btc-room101]

Do we believe and believe that what China is doing with a specific purpose is true and can be ascertained. look at past experiences about 51%. citing some news that circulated among them;

- To exert influence in a foreign country where Bitcoin is in use, China may aim to weaken or even totally destroy Bitcoin. This could be done by targeting specific users or miners for attack or by generally weakening consensus to increase volatility to a breaking point.

Of course there are implications that occur with this and whether there is no protection that can prevent this from happening.
we know that there is ;
The Computer Fraud and Abuse Act (CFAA) seems to clearly encompass 51% attacks, and impose significant penalties on the attacker.

whether it will still be done with a clear risk that is easy to know.

We have already said "Only a moron pisses in his own soup", If you don't understand this statement, then you wouldn't understand the question.

This entire OP is BS, because nobody on earth with the power necessary has any desire to 'destroy btc', like I have already said, it doesn't matter because BTC has a limited shelf life, but that doesn't matter either cuz of the 12k shit-coins, 100's of them are rock-solid to stick around the next +20 years long after btc implodes.

China by hard-work has 90% of btc on earth today, they worked for they're smart, they ain't going to pee in their soup.

...

Here's what is going to transpire, CCP already has control of Jack-Ma and his ant-holdings which 90% of the world BTC infrastrucure, when CBDC is ready CCP just slides their code in, and all the infrastructure simply starts running CBDC.

But this is years off ( 2-3 years IMHO ), in the short term there needs to be a slow migration of out BTC and into the btc-3.0 coins where the wealth can be preserved. CCP well knows the NSA created BTC, and they know that it has a limited 'shelf-life' so they'll have their people slide into CBDC and/or GOLD until the transition is complete.

The morons in the west will be the bag-holders and watch btc go slowly to zero.

[Lorence.xD]

Chinese pools have long since found that spamming the bitcoin transactions are farrrrrrrr more profitable than a few week 51%.

no worries.

And they are much cheaper compared to 51% attack since you don't need a lot of resources to spam the transactions and knowing China, they would probably choose those that they can benefit from in the long-term than a big one that wouldn't even last that long.

[amishmanish]

"We" have already said..

LOL. There is just one guy who speaks like this and has so much verbal diarrhea with meaningless speculation and completely cuckoo assumptions (Jack-Ma doesn't own the Ant in the Ant-Miner).

What happened to your old accounts? Now I recall from your  earlier posts where you used to talk in this swarm/ Gollum-ish language of addressing yourself in the plural. LOL, Its so much fun. ("We are not going to explain further", "We know everything", "We are the legion").

Welcome back TOAA/ Khaos..Why do you keep making these Alts though? You selling PoS these days??

[amishmanish]

I wonder what will happen to bitcoin when China launches digital yuan.

I wonder if it will make you stop being a bot with generic one-liner replies while wearing a signature. Seriously, who the fuck is your campaign manager at OWNR wallet? Ohh the campaign is stopped and you have taken some sort of oath to only reply with one-liners.

Or you a bot. If this is a bot, please teach us how to make one.

Your reply will also serve as a form of Turing Test for your "bot", i guess.

AND, to answer your question, the only people who should worry about the Digital Yuan are the Chinese citizens who love falling for the communist nationalism propaganda so much. The rest of the world will continue with Bitcoin. Nobody will give a damn for these centralized curiosities.