Quote from: User705 on November 13, 2013, 04:47:37 AM

Why all this talk about taking it down. The reality is that it's already been shown not to be so good at covert drug dealing and the only thing left is speculation. As long as governments get their tax cut they just don't care. They got the printing press and taxes. They will gladly support 100 winkelvoss / bitcoin trust etfs and as many exchanges as want to register and track users. Sure there will be wealth made but real change takes time and mass populace discontent and we just aren't anywhere near that. Enjoy the riches and be quick on the sell trigger if and when your stash becomes fuck you money.

I'll try once again to answer this and then go back to the original question. Bitcoin was set up specifically because the govt took down earlier models which were more vulnerable. Again, research EGold, Liberty Dollar, etc. To say the banks/govt will just stand around while they lose control over currency (power) is unrealistic imo, but nonetheless that discussion needs a different thread.

Could an attack such as a 51% attack succeed in eradicating bitcoin (erasing all or "recent" transactions)? Could it be done anonymously? And again, most importantly, is there any solution to this within the bitcoin framework or in a proposed cryptocurrency. For example what if the blockchain of a new cryptocurrency were hosted only through servers in safe countries run by vetted individuals? What if the coins were not mined but donated at a given rate to a basket of legal protection & PR entities while the trusted servers ran off transaction fees? Is anything being considered or constructed as a backup in case bitcoin is taken down by a 51% attack - is there a consensus solution? Because if there is no backup or solution it makes such an attack far more likely.