Quote from: DarkHyudrA on December 12, 2012, 10:07:09 PM

Quote from: socrates on December 12, 2012, 09:47:32 PM

Quote from: DarkHyudrA on December 12, 2012, 09:32:03 PM

Quote from: socrates on December 12, 2012, 09:26:34 PM

Quote from: DannyHamilton on December 12, 2012, 04:41:47 PM

Quote from: socrates on December 12, 2012, 04:36:48 PM

Quote from: DannyHamilton on December 12, 2012, 04:11:03 PM

The higher the total network hashrate, the more money a government entity would need to spend to perform a 51% attack.

Still much less than what is spent on wars. If they want to declare war on bitcoins then it entirely enters the realm of possibility.

How do you know this? Do you have a magic crystal ball that predicts what the total network hashrate will be if/when a government decides to try a 51% attack?

In today's terms, the money needed to launch a 51% attack is insignificant compared to what is spent on wars. If needed, it is not inconceivable that money will not be a factor. Which returns me back to the original question. Does the technology have anything to prevent a 51% attack or is the bitcoin system helpless against such an attack? No one has addressed this. I believe this is the part that needs to be discussed, not whether governments will attack or whether they have resources to do so.

If the technology can have some way to prevent a 51% attack or a strategy can be formulated to prevent it, it is well worth discussing.

BTC Network is too small, that's why a 51% attack is so easy.
Want to prevent it? Wait for ASIC's and call more miners.

The government can also purchase ASIC's and mobilize miners. Not to mention bribing/coercing existing miners.

The idea of a future security, it's because every day the BTC can change it's code for block generation and many other things.
Godammit, we already said if the government wants it today, he can.
Now close the thread.

Well, if nobody is interested in discussing, I will close the thread.

Off to find Plato for some philosophical entertainment.