bitcoin is much too small to resist any decent attack yet
Any major country could probably kill it easily with computing power alone
the entire economy is worth $50-100 million
in comparison ,gisele bundchen (yes,the bikini model ) is worth $250 million and thats peanuts by "rich" standards
http://www.toptenz.net/top-10-shockingly-rich-celebrities.php
when a market is so tiny ,it cannot resist being manipulated by people ,countries ,goverments that are worth so much more
they can buy in ,crash the price down to near zero or incite a panic or many things that would make it too volatile to mainstream traders to accept
a major bank could buy it and bury it and it would barely register on that days trading sheet
Topic: What could cause Bitcoin to fail? - page 3. (Read 5724 times)
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
Fortunately, most of our cybersecurity has come from private developments. We believe people like ourselves are capable of taking care of things. Else, people would give government "gods" an excuse to take everything over.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
The UN couldn't find its ass in a bright room.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
Not going to happen.
A global government takeover of all network infrastructure, with forced licensing of all network devices and central auditing of all network processes with the intent of expelling Bitcoin could do the trick.
The key here is global governance of all telecommunications.
The key here is global governance of all telecommunications.
As Bitcoin grows and gains popularity, and hate, and takes business from large and monopolistic foundations, a 51% attack will be a viable option for these people. The only problem is that most people with any sense realize Bitcoin is a great thing, and probably wouldn't want to kill it. But then again, all it takes is the man in control of a SHA256 optimized supercomputer pressing a few keys...
If a 51% attack comes about, I wouldn't doubt that someone with power will be ready or at least willing to counter it.
Ohh and today's my birthday
Is there any country that could sustain a 51% attack for long before another equally large superpower countered their attack?
If a 51% attack comes about, I wouldn't doubt that someone with power will be ready or at least willing to counter it.
Ohh and today's my birthday
Right now a government could run an on going 51% attack without much trouble. I don't think we're completely out of the woods on this until the value of a days blocks is well over a million 2012 bucks.
Is there any country that could sustain a 51% attack for long before another equally large superpower countered their attack? 
Everyone around me (in meatspace that is, not on the forums) tells me I shouldn't be so reckless by putting so much of my savings into BTC.
But really - what are the real risks here? Under what scenario could bitcoin possibly fail?
But really - what are the real risks here? Under what scenario could bitcoin possibly fail?
Right now a government could run an on going 51% attack without much trouble. I don't think we're completely out of the woods on this until the value of a days blocks is well over a million 2012 bucks.
I don't think interest waning to near nothingness is even a remote possibility at this point, but I guess that is a scenario.
My understanding is that mainstream crypto has never broken suddenly, there is always time to switch. But it isn't completely impossible I guess.
It's always a bad idea to keep all your eggs in one basket, as it were.
Quote from: Sci Fi Author Robert A. Heinlein
Put all your eggs in one basket, and then watch that basket!
extinction of the human race might cause bitcoin to fail, but hey maybe some aliens will come by, find it a cool idea and take it up!
It's always a bad idea to keep all your eggs in one basket, as it were.
Evil never fails.
If you ever see a spend from this address:
1111111111111111111114oLvT2
Sell your bitcoins immediately; it means we are all doomed and the system has been broken from the start.
1111111111111111111114oLvT2
Sell your bitcoins immediately; it means we are all doomed and the system has been broken from the start.
'Shutting Down' is almost impossible, Bitcoin is like p2p file sharing, as long as 2 people are using it than it cannot be.
However, it can be severely choked.
However, it can be severely choked.
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