Quote from: NotATether on Today at 09:14:43 AM

They cannot take over the mining pools because that is private property of the corporations.

That is the thing about Communism, this is what they do. Communist parties do not care if it is private property or not.

They are able to relativize the property rights.

For example, chine communist party may just make a new law: "Mining equipment is now is vital for the national security and the government will acquire all equipment, buildings and installations of any related company"

They have done this over and over again over the world and through out history. China, Russia, Venezuela, Cuba...

They could just do that again at any time it seems fit

Quote from: DraGonD on Today at 10:57:31 AM

51% attack is still pretty cheap if you are first world country. Nice way to destroy currency, isnt it?

Cheap? It would cost millions of dollars per minute and the amount of energy required is more than a few countries consume. It would be a continental class attack lol

Quote from: ranochigo on January 10, 2021, 09:06:59 AM

I removed the remainder of the quote because it's literally the same exact point. 60% of the miners are within the geographical boundaries of China. This means that the government can potentially seize and control 60% of the network's hashrate.

You only need 51% to be able to have a 51% attack. Bitcoin isn't centralized but the concentration of miners makes it less than ideal.

This is somewhat alarming indeed.