Post
Topic
Board Economics
Re: Transactions Withholding Attack
by
Mylon
on 01/12/2013, 04:36:31 UTC
Been reading and more reading and more reading.

And all I hear is noise that Amazon will try to destroy bitcoin by adopting it.

- own downloadable client... don't really see that happening, at least not in the near future. (loads of work + time = loads of money)
- integrated in website, possible even likely. Them modifying the code with malicious intent, doubtful.
- Them setting up a huge mining pool, unlikely.
End of story, executing this attack, means you need to be a multi billion dollar company, investing multi millions, on something that is not morally acceptable.

Ok true thats what big companies often do. (if they see profit in it)

So lets assume Amazon did this,
Due to the open nature of the blockchain, people would find out, sooner or later. (expect sooner)
The moment this gets found out, several things can happen.
- Miners cartel against Amazon, Amazon blocks no longer get accepted. (bye bye profit, and reputation of the company)
- Miners don't care and continue their business of making money. (the world is bigger than Amazon) Users however scream murder at Amazon and will petition to boy-cot Amazon.
- Nobody cares and Amazon makes a little bit more money than they would otherwise.