Post
Topic
Board Beginners & Help
Re: 51% attack: 51% of what?
by
jfhoff
on 15/04/2013, 17:57:37 UTC
Quote
I see what your saying, but what would be accomplished by buying 1200 mining rigs, then set them to work destroying mining? If they did such a crazy thing and committed to forking the chain and destroying bitcoin at great expense, I could create bitcoin 2. How many times are they going to waste their money?

You're right, the concept of stateless crypto-currency is out of the bag, and there is likely no way to put it back in. But I'd hate to see all the people that have invested time, sweat and blood into BTC v1 lose all, and a new crop of investors (the status quo financial crowd?) start up BTC v2, with them reaping all the rewards.