Re:Cambridge Bitcoin Electricity Consumption Index
by shawnz on Wednesday February 10, 2021 @09:44PM
(#26097652)
You are right that wouldn't make for a good store of value. But Bitcoin actually does not get attacked "continuously" so that is not an applicable criticism. It is conceivable that such a thing could happen but we can expect it to happen approximately never given the incentives in place.
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Re:Cambridge Bitcoin Electricity Consumption Index
by arcticbull on Wednesday February 10, 2021 @11:50PM
(#26098362)
Economic incentives sure, but if it becomes America's currency and it's mined by the Chinese, economic incentives no longer have primacy.
Re:Cambridge Bitcoin Electricity Consumption Index
by shawnz on Thursday February 11, 2021 @12:10AM
(#26098453)
Don't they? Then what does? I just don't see what the benefit of conducting such an attack would be.
Coinholders would practically not be impacted: they could just take their existing keys and bring them into the hard-forked software and continue like normal. Mining might be disrupted for a short time, but is that so harmful to the enemy to be worth spending millions in electricity?