Interview With Jeff Smith, CIO CEX

[pollen_bit]

Interview With Jeff Smith, CIO CEX:
Harming Bitcoin will be economically impractical
http://www.iamsatoshi.com/harming-bitcoin-economically-impractical/

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[monim1]

Not entirely impractically if you're the US Govt, but very very very expensive  Estimates are around $666m right now, to do a 51% attack [1].

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[1] http://www.coinometrics.com/bitcoin/rix

[Kprawn]

I certainly hope it's US $ and not Zimbabwe $ 

Seriously ... It's just too much money for too little gain. Why would any sane person even want to waste that amount of money, to do that.

This is just a non-issue.

[monim1]

Well, some people actually suspect the US govt actually created Bitcoin - https://news.ycombinator.com/item?id=5547423

Probably in the same category of people who believe 9/11 was an inside job though.

[tzortz]

Nice link , thanks.

[TheClownSong]

Not entirely impractically if you're the US Govt, but very very very expensive  Estimates are around $666m right now, to do a 51% attack [1].

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[1] http://www.coinometrics.com/bitcoin/rix

Even if you were to successfully launch a 51% attack on the network, the "honest" nodes and miners could simply ignore the blocks that were found by the attacking miners so the 51% attack would ultimately not work.

Also any 51% attack must be sustained over the long term and not just over a few hours or a few days, as the network could simply do a soft fork from when the attack had started if it ends early enough

[BayAreaCoins]

Not entirely impractically if you're the US Govt, but very very very expensive   Estimates are around $666m right now, to do a 51% attack [1].

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[1] http://www.coinometrics.com/bitcoin/rix

You could do a 51% attack with a subsidized mining pool and the greedy ass miners.

It would be far cheaper than $666 million