The "you cant kill Bitcoin argument"

[cbeast]

The government just need to force some of the giant miner in US to group up for 51% attack and its done..

What exactly would happen if they did this? 1-3 double spends? The ability to prevent a few transactions from being propagated, temporarily?
https://www.youtube.com/watch?v=yWTQgmCuiCw

I love it. Government IT competency: www.healthcare.gov

[amaclin]

What exactly would happen if they did this? 1-3 double spends?

It will be more than enough to double-spend just one significant amount.
After it everyone will see that bitcoins cost nothing because can be doublespended.

[inBitweTrust]

What exactly would happen if they did this? 1-3 double spends?

It will be more than enough to double-spend just one significant amount.
After it everyone will see that bitcoins cost nothing because can be doublespended.

I never knew that double spending or creating fake transactions on a network would completely undermine the value in the whole ecosystem. Good thing that there is no such thing as fake currency and doublespends happening in all the other currency ecosystems we use and trust.

This never happens elsewhere, right? Those billions of dollars in fake greenbacks being printed instantly made all USD fiat devoid of any value , right?

[amaclin]

This never happens elsewhere, right?

This happens everywhere and everytime.
But the offline communities have a laws and rules to protect people and punish dishonest persons.
Bitcoin onlline community does not protect a person from an attacker.

[cbeast]

This never happens elsewhere, right?

This happens everywhere and everytime.
But the offline communities have a laws and rules to protect people and punish dishonest persons.
Bitcoin onlline community does not protect a person from an attacker.

Who protects people from the lawgivers? Police seizure laws, government overreach, overambitious regulators, to name a few.

[amaclin]

Who protects people from the lawgivers? Police seizure laws, government overreach, overambitious regulators, to name a few.

Why not to vote for another persons on elections?

[NewLiberty]

Who protects people from the lawgivers? Police seizure laws, government overreach, overambitious regulators, to name a few.

Why not to vote for another persons on elections?

Politicians are not bound to do what they say they will.
They do bind the rest of us however.
Voting is over rated.

[cbeast]

Who protects people from the lawgivers? Police seizure laws, government overreach, overambitious regulators, to name a few.

Why not to vote for another persons on elections?

Few if any of them are elected. Most of them are appointed bureaucrats with tenure. Besides, it's actually legal for government to take your property without due process. It's a civil matter and requires you to sue at your expense or just protect yourself to begin with by keeping some of your wealth out of their reach.

[inBitweTrust]

This never happens elsewhere, right?

This happens everywhere and everytime.
But the offline communities have a laws and rules to protect people and punish dishonest persons.
Bitcoin onlline community does not protect a person from an attacker.

Bitcoin has many methods of protecting the users from attackers and is fundamentally more secure than Fiat currencies if you don't hand you coins over to thieves(Grifts happen just as easily with fiat too).

Theft is institutionalized with fiat currency. Democracy is one of the first examples of a 51% attack.

I await evidence that shows a higher per capita risk for users who secure there own bitcoins vs users who secure both physical cash and digital cash in traditional banks. Please include all amortized security costs in this research.

Why not to vote for another persons on elections?

Is your attention span greater than a goldfish? Name me one president or politician who hasn't repeatedly betrayed his oath and campaign promises.

[marcus_of_augustus]

Was there an actual technical question here?

Moderators? Can we keep at least this section free from the speculative FUD, games and other dross? Place is getting pretty noisy (crapped up).

[mmitech]

Was there an actual technical question here?

Moderators? Can we keep at least this section free from the speculative FUD, games and other dross? Place is getting pretty noisy (crapped up).

maybe if you wouldn't be a delusional cultist you would see the legitimacy of this concern, many sane and objective people usually engage is such discussions, but if you want to be an idiot FUD spreader and delusional cultist then stay in the fucking speculation forum.

[cbeast]

Was there an actual technical question here?

Moderators? Can we keep at least this section free from the speculative FUD, games and other dross? Place is getting pretty noisy (crapped up).

I didn't realize this was in the Development forum. This is way off topic.

[JLynn171]

The USA Gov't will go to far extremes to protect their USD system they have set up... if at anytime BTC starts to actually make serious competition/threat to their currency you can believe that strict bans/ legislation restrictions will be put into place to try and "kill" BTC... and if they can not kill it they will try to get their hands on it and make probably more from it than the miner (essentially killing it)