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Topic: The future of Bitcoins - page 3. (Read 2263 times)

sr. member
Activity: 434
Merit: 250
December 12, 2012, 09:00:13 AM
#6
Hey now! That's to make the world a better, greener place. Wink

It's for your own good, now TAKE YOUR MEDICINE.
hero member
Activity: 952
Merit: 1009
December 12, 2012, 08:51:19 AM
#5
Distributed mining is the defense against attack.
Which implies that it needs a defense. Sans that it can be brought down. Governments can ban GPUs, mining rigs etc. so the defense gets weak while they can have powerful hardware.

What does the technology have to prevent such a thing from occurring?


Bitch please, ban computer parts?

They are doing this right now in the Euro states. Legislation is being enacted to ban the sale of high-end graphics cards.
legendary
Activity: 1386
Merit: 1000
English <-> Portuguese translations
December 12, 2012, 08:38:57 AM
#4
Distributed mining is the defense against attack.
Which implies that it needs a defense. Sans that it can be brought down. Governments can ban GPUs, mining rigs etc. so the defense gets weak while they can have powerful hardware.

What does the technology have to prevent such a thing from occurring?


Bitch please, ban computer parts?
They don't need to make a PC revolution to make a 51% attack, they have lots of super-computers to make a lot of floating points operations that, if they want it today, they can make the 51% attack.
newbie
Activity: 29
Merit: 0
December 12, 2012, 08:35:43 AM
#3
Distributed mining is the defense against attack.
Which implies that it needs a defense. Sans that it can be brought down. Governments can ban GPUs, mining rigs etc. so the defense gets weak while they can have powerful hardware.

What does the technology have to prevent such a thing from occurring?
sr. member
Activity: 434
Merit: 250
December 12, 2012, 08:31:07 AM
#2
Distributed mining is the defense against attack.
newbie
Activity: 29
Merit: 0
December 12, 2012, 08:20:13 AM
#1
When reading about bitcoins, I came across the 51% attack concept. This is something that any entity with enough money can do. If Bitcoins really become a dominant force and threaten any of the major currencies, is it not possible that they would launch a 51% attack and control or destroy the bitcoin system? Or, is there a built-in protection available in the technology to prevent this?
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