Post
Topic
Board Mining
Re: 50%
by
tehcodez
on 08/06/2011, 05:24:43 UTC
Deepbit just hit 50%. We are still alive. Now everyone stop whining.

This proves you DON'T GET IT. It's not a "50%..the end" thing...its a

User A: "....some time later...what's this? double-spending? can't be...."

User B: "@twitter...btc chain broken..sell."

Thing.


The possibility of your scenario is so slight that it's not even funny.

In the even that it did happen, the price will drop, mining won't be profitable and everyone that's only in it for the money and they would get out.

The network would recover and rebuild, a little more wiser.

From a new block chain. Thats not a very easy thing to do, now that people can look at the original Bitcoin blockchain and say "Oh, yea, you can double spend in that thing.... Not very secure. Lets NOT use that technology."

The exploit was recognized and explained by the creator. I trust the protocol. If you don't then you should sell out and close up shop.

I love the laissez-faire attitude with the emerging technology. Obviously a real champion for bitcoin stability and prosperity among all segments, especially the early-adopter and more recent screwed groups.