Re: How much Network Hashrate until we have a safe currency?
I mean big enough so a coordinated attack by some huge network or in example if some big banking cartels want to bribe 3 or 4 major pool mine owners to give full control of their network wouldnt be possible to corrupt and screw all up?
Sorry if im saying nonsense but i wanna understand better how the network survive if such attack occurs because thats the modus operandi of the plutocracy since 1700s so its not unusual to think they will try to control the majority of the supply of this currency.
Sorry if im saying nonsense but i wanna understand better how the network survive if such attack occurs because thats the modus operandi of the plutocracy since 1700s so its not unusual to think they will try to control the majority of the supply of this currency.
The bitcoin network currently has more hashing power than the top 500 super computers COMBINED. I think it is pretty safe. It would be safer if everyone was solo mining instead of pooling. The attack vector is not on bitcoin itself it is on the pools
Perfect, i understand now. Thanks!
This can be easily solved decentralizing more the pool mining to prevent the merging of 2 or 3 major pools and the full control of the network, in the pace the things are going there will be thousands of pools soon.
Man this is a historical moment of insanely big proportions, being alive and actively participating on this total revolution of our monetary system will be something I am proud to contribute.
We are witnessing the transfer of wealth from a banking plutocracy to a collaborative community, inevitably the next step on the next decades will be a resource based economy with no need for currency at all.
Finally someone bridged the gap between our current model and Jacque Fresco's ideas.
What a time to be alive!!
