Post
Topic
Board Pools
Re: It is now 51%
by
philipma1957
on 15/06/2014, 19:46:56 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.

china would need to pay more then 1 billion,  but why do it no need to .

 btc will have more then enough issues as diff rises faster then efficiency and fiat price.


really ask your self why do  people buy hash power at well over  4 dollars a gh ?

 last i looked ghash sells at .00762 whic his more then 4.20 usd.