Now I see how ANY Government can EASILY KILL BTC

[iGROWyourBiz]

I just learned about the 51% attack.

People say it can't happen because "everyone loves BTC" 

= Who would do that?
= WHO would have that much money to waste just to kill BTC

Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO

and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?

What do you think?

[casascius]

There's too many viable countermeasures, one I have thought of includes known entities signing blocks so that there is a distributed human tiebreaker element to any major rollback in the block chain.  These signatures would only be taken into consideration when one fork of the block chain appears to compete with another, and both are larger than a few blocks.  The signatures would merely assert "I am (identity) and I saw block (hash) at (timestamp)".  There is no big rush to add this to Bitcoin now, but if Bitcoin experienced a bona fide 51% attack, suddenly everyone would be motivated to add this.

[byt411]

I just learned about the 51% attack.

People say it can't happen because "everyone loves BTC" 

= Who would do that?
= WHO would have that much money to waste just to kill BTC

Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO

and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?

What do you think?

Answer this question.
Why would any government spend millions to kill BTC now? And we can just hard-fork it and add more preventive measures if that really happens. Also, even if that BTC is offered to for example, GHASH and BTCGuild, everyone would notice they are carrying out such an attack and miners would switch pools.

Think before you say something.

[Joshuar]

I just learned about the 51% attack.

People say it can't happen because "everyone loves BTC" 

= Who would do that?
= WHO would have that much money to waste just to kill BTC

Seems to me that $60-$100 Million offered @ $10 MILLION Each to 6-10 mine pools would do it...then no more concern about CRYPTO

and BTC is large enough that the media spin on it would count as an EXAMPLE to the masses that crypto doesn't work (perception is reality) and should be stayed away from?

What do you think?

Answer this question.
Why would any government spend millions to kill BTC now? And we can just hard-fork it and add more preventive measures if that really happens. Also, even if that BTC is offered to for example, GHASH and BTCGuild, everyone would notice they are carrying out such an attack and miners would switch pools.

Think before you say something.

This, +1 Bitcoin would be hardforked. We would all use that fork, government's attempts would be useless, we would go on our merry way.

[iGROWyourBiz]

Think before you say something.

get over yourself...

[seriouscoin]

What do you think?

I think you should stop making silly threads and spend more time reading.

You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.

Dont you think we would have had discussed these topics long time ago?

[byt411]

What do you think?

I think you should stop making silly threads and spend more time reading.

You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.

Dont you think we would have had discussed these topics long time ago?

Exactly. That's the whole point. And we have countermeasures that we can put into place in the event that this occurs.
We don't even need to hardfork, most miners would switch to another pool anyway.

[iGROWyourBiz]

What do you think?

I think you should stop making silly threads and spend more time reading.

You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.

Dont you think we would have had discussed these topics long time ago?

Noob? How old are you 12?  Do you live and operate in the real world or just online?  Are you stuck in the chair at the computer? do u know how life works?

Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?

Get over yourself...seriously.


FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.

THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.

I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"?  I DIDN'T it is NEW FOR ME

so I WILL DISCUSS THEM!  

And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING

thanks for your time and have a good day.

[bountygiver]

Easy, someone who really support BTC just mass produce ASIC that is cheap but is not as fast/cost-efficient than other asic, all bitcoiners buy them and mine themselves.
Then everyone will be investing a little money to prevent any 51%

Sadly the current mentality = mine only for profit.

[byt411]

What do you think?

I think you should stop making silly threads and spend more time reading.

You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.

Dont you think we would have had discussed these topics long time ago?

Noob? How old are you 12?  Do you live and operate in the real world or just online?  Are you stuck in the chair at the computer? do u know how life works?

Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?

Get over yourself...seriously.


FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.

THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.

I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"?  I DIDN'T it is NEW FOR ME

so I WILL DISCUSS THEM!  

And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING

thanks for your time and have a good day.

Wow. You are obviously an uneducated person, and cannot properly start a discussion without raging at people.
We are just answering your questions. Your attitude won't get you anywhere.
You should seriously consider changing your attitude to approach your life, otherwise I assure you that you will make many mistakes.
Please calm down and have a think yourself.

[byt411]

Easy, someone who really support BTC just mass produce ASIC that is cheap but is not as fast/cost-efficient than other asic, all bitcoiners buy them and mine themselves.
Then everyone will be investing a little money to prevent any 51%

Sadly the current mentality = mine only for profit.

No. You point at p2pool. Solo mining with a miner each won't get anyone anywhere.

[Wilikon]

What do you think?

I think you should stop making silly threads and spend more time reading.

You're a noob, we get it but atleast show your effort in learning. Being spoonfed is not gonna get you anywhere. You will however be mislead by hearsay.

Dont you think we would have had discussed these topics long time ago?

Noob? How old are you 12?  Do you live and operate in the real world or just online?  Are you stuck in the chair at the computer? do u know how life works?

Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?

Get over yourself...seriously.


FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.

THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.

I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"?  I DIDN'T it is NEW FOR ME

so I WILL DISCUSS THEM!  

And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING

thanks for your time and have a good day.

https://www.google.com/search?q=https%3A%2F%2Fbitcointalk.org%3A51%25+attack&oq=https%3A%2F%2Fbitcointalk.org%3A51%25+attack&aqs=chrome..69i57.8877j0j1&sourceid=chrome&es_sm=122&ie=UTF-8

It's all good when you know how to use the tools the internet gives you. Relax.

[bitsire]

Not going to happen!

Why would a government want to kill Bitcoin when they can tax it instead and turn it into a cash cow?

The IRS's ruling basically solidified Bitcoin's legitimacy and many other countries will look to the US when it comes time for them to issue their own guidelines.

Let's suppose a government even had the desire to do this - are they going to waste the massive funds required to do so?

I think not  

[iGROWyourBiz]

https://www.google.com/search?q=https%3A%2F%2F[Suspicious link removed]%3A51%25+attack&aqs=chrome..69i57.8877j0j1&sourceid=chrome&es_sm=122&ie=UTF-8

It's all good when you know how to use the tools the internet gives you. Relax.

and which one of those is not a general conversation or one with 20 million bunny trails?

which specifically is WHAT I POSITED???

[leopard2]

The only entity that can realistically do that is China. Produce lots of ASICs, seize Discus Fish, turn it into an SHA256 "jammer" (because a single 51% event is not enough, that could be healed by a fork)

No one else has the motive and resourecs but China Mainland.

Now, if you believe this will happen, scrypt coins are less vulnerable, scrypt-N even less, and Primecoin/Yac etc. can 100% not be attacked that way because not even China can produce more than 51% of the planet's CPUs. NXT is completely immune to 51% attack by design.

So don't whine, diversify into LTC DOGE VTC HEAVY QUARK SRC XPM YAC NXT or whatever else, if you really believe in such horror stories.

[alex0909]

https://www.google.com/search?q=https%3A%2F%2F[Suspicious link removed]%3A51%25+attack&aqs=chrome..69i57.8877j0j1&sourceid=chrome&es_sm=122&ie=UTF-8

It's all good when you know how to use the tools the internet gives you. Relax.

and which one of those is not a general conversation or one with 20 million bunny trails?

which specifically is WHAT I POSITED???

Can't spell correctly, and starts a thread with CAPS on a few WORDS.
That's why no one takes you seriously.

Let me guess, american?

[byt411]

https://www.google.com/search?q=https%3A%2F%2F[Suspicious link removed]%3A51%25+attack&aqs=chrome..69i57.8877j0j1&sourceid=chrome&es_sm=122&ie=UTF-8

It's all good when you know how to use the tools the internet gives you. Relax.

and which one of those is not a general conversation or one with 20 million bunny trails?

which specifically is WHAT I POSITED???

Can't spell correctly, and starts a thread with CAPS on a few WORDS.
That's why no one takes you seriously.

Let me guess, american?

I think it's just a 10 year old kid, raging because he doesn't understand what he thinks he understands.
What question are you asking anyway. You asked for opinions, we gave you opinions, and you started insulting and raging like a psycho.
So... what else do you want?

[Wilikon]

https://www.google.com/search?q=https%3A%2F%2F[Suspicious link removed]%3A51%25+attack&aqs=chrome..69i57.8877j0j1&sourceid=chrome&es_sm=122&ie=UTF-8

It's all good when you know how to use the tools the internet gives you. Relax.

and which one of those is not a general conversation or one with 20 million bunny trails?

which specifically is WHAT I POSITED???

Relax.... Breath...

[iGROWyourBiz]

https://www.google.com/search?q=https%3A%2F%2F[Suspicious link removed]%3A51%25+attack&aqs=chrome..69i57.8877j0j1&sourceid=chrome&es_sm=122&ie=UTF-8

It's all good when you know how to use the tools the internet gives you. Relax.

and which one of those is not a general conversation or one with 20 million bunny trails?

which specifically is WHAT I POSITED???

Can't spell correctly, and starts a thread with CAPS on a few WORDS.
That's why no one takes you seriously.

Let me guess, american?

Which word is spelled incorrectly, genius?

[Beliathon]

Noob? How old are you 12?  Do you live and operate in the real world or just online?  Are you stuck in the chair at the computer? do u know how life works?

Are you in the COOL clique for BTC? ooooo-- should I try to be your friend?

Get over yourself...seriously.


FOR AS LONG AS THERE IS BITCOIN - there will be new people coming in.

THIS FORUM IS FOR DISCUSSION -- stay OUT OF THE DISCUSSION if you already know everything and had every possible discussion.

I didn't ask if you had this discussion...why would I care if you discussed these things "a long time ago"?  I DIDN'T it is NEW FOR ME

so I WILL DISCUSS THEM!  

And while your IQ may be so low, that you are easily mislead by hearsay, or your time on this earth so limited that you are easily taken advantage of..some of us have succeeded in life and are STILL GROWING

Ruh-roh, that is one pissed-off, Bitcoin-ignorant tween!