Post
Topic
Board Economics
Re: Bitcoin's kryptonite: The 51% attack.
by
andes
on 07/06/2011, 04:54:05 UTC
Quote
1. as has been pointed out many times, the attack is not expensive,
Tens of millions of dollars for hardware, and millions more for manpower is expensive for most groups in the world.

Man you cant be serious.  Grin As said, the game here is the allocation of worlds resources via the control of the monetary system. And you say that tens of millions of dollars is a lot of money?

To put that in perspective:
Do you know how many people have a net worth of 1 million or more in the US? 10 million people.
Do you know how many people have a net worth of 5 million or more in the US? 1 million people. A handfull of these could finance tens of millions of dollar.
Do you know how much one single F22 Raptor plane costs? 350 Million. Just one.  Source http://www.time.com/time/photogallery/0,29307,1912203,00.html
Or think about how much money drug dealing makes.
Or illegal arms trading.
And the list goes on...

cmon!