Re:Blockstack: A New Decentralized Internet [pdf]
by nugget on Saturday June 24, 2017 @04:34PM
(#14627348)
Run the math for Ethereum and it's even crazier. Something like $15m in cloud computing resources and you can control the eth network valued at >$30 billion. For this reason I can't imagine "shorting" these cryptocurrencies will be possible any time soon as the incentives for attack would be too great. The price asymmetry could resolve in a number of different ways and it will be interesting to watch how it unfolds.
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Re:Blockstack: A New Decentralized Internet [pdf]
by haakon on Saturday June 24, 2017 @05:18PM
(#14627529)
> I can't imagine "shorting" these cryptocurrencies will be possible any time soon
You can short Bitcoin, Ethereum and many other cryptocurrencies on a number of exchanges right now.
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Re:Blockstack: A New Decentralized Internet [pdf]
by nyolfen on Saturday June 24, 2017 @08:08PM
(#14627993)
judging by this guy's comment history i think he's trying to pump altcoins
Re:Blockstack: A New Decentralized Internet [pdf]
by merkaloid on Saturday June 24, 2017 @04:51PM
(#14627419)
It would be valued as something closer to 0 if you did take it over.
Re:Blockstack: A New Decentralized Internet [pdf]
by IamCarbonMan on Saturday June 24, 2017 @05:12PM
(#14627502)
If you take over the entire thing yes. But the DAO hack demonstrates how easy it can be for an attacker to make off with a whole lot of ETH.