Post
Topic
Board Pools
Re: It is now 51%
by
Wookie50
on 14/06/2014, 11:05:42 UTC

Even if they got 51% of the hashrate they would not necessarily carry out a 51% attack, as doing so would essentially prevent them from every selling their equipment (GH/s again).

That is not the problem.  The problem is that for the bitcoin to get to $100,000 per btc, you need to have blind trust in the network.  And that includes trusting that there isn't a shred of possibility that there is someone crazy enough to do something stupid.  And we know there are a lot of crazy people.  

Scenario for you: China pays GHASH $1Billion to purchase the pool for the purpose of destroying bitcoin.  $1B is nothing to China -- far less that the threat bitcoin poses.