Post
Topic
Board Bitcoin Discussion
Re: Is there an institution that protects the circulation of Bitcoin?
by
jseverson
on 02/11/2018, 07:14:24 UTC
But what if that group of full verifying nodes "gets into the hands" of some institution that aims to enforce the rules? In that case that institution would effectively have said powers. Whether this is an official institution or a non-official group of people, I believe this has happened already in the crypto space before, right?

They still can't trick legitimate nodes into accepting bogus transactions, so no. This is called a Sybil Attack. I have no idea if altcoins have been attacked this way, but it has never happened to Bitcoin as far as I know. The only way to really attack it is a 51% attack, which would be incredibly difficult to pull off.