Post
Topic
Board Speculation
Re: sidechains discussion
by
tvbcof
on 07/01/2015, 03:25:26 UTC
...
You still have not read my reddit posts, did you?

Summarizing them:  Say the cartel has hashpower ...


I skim your stuff sometimes.  Didn't run across the initial reddit.  I will say that I considered scoring a few retired FPGA's one time for a variety of reasons one of them being an attack of they type you suggest.  In the end I didn't bother since it didn't seem that likely.

One nicety of having everything go ASIC is that it would make the 'nuclear option' be that much more devastating.  That action would also be a golden opportunity to fix some things that Satoshi got wrong.  In the early days I did not pay much attention to mining and I believe I stated (incorrectly) that it was a boring side-show that didn't really matter much and wondered if Satoshi also saw things in the same way.  In hindsight I'm realizing how wrong I was about this.

I don't doubt that there are a variety of tactics considered to deal with Bitcoin if need be by those who are threatened, but the only ones which pose a true threat will be those sneaky ones where the seeds of destruction are planted long before anyone is aware of them and thus takes some sort of action.  It's still the case that most head-on attacks stand a decent chance of failure I think.