It is said with someone with close to 50% of the total hash rate, can simply make up their own blocks and call it the official block chain, and with 50.1% of the mining power we really cant say they are wrong.
Couldnt a government upset with the rise of bitcoin cause it to fall nearly immediately by jumping on the network with a hash rate slightly higher than our global rate and start making coins?
It doesnt seem to be that easy to kill the dollar. I cant just print new dollars and say since I am printing half the worlds dollars that mine are the real ones and the US ones are the fakes.
Would the community be able to react to this? perhaps ban the government machines that are proving over half the MHs?
SCrew rogue pool operators, what protection do we have from rogue governments WHO do have the hash power sitting their doing other things? Couldnt they just sneak on in middle of the night (american time) and start a new block chain and then disconnect again?
Topic: Isnt it a fatal flaw that bitcoin can be manipulated by someone with 51% of MHs - page 2. (Read 3578 times)
July 17, 2011, 01:42:55 PM
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