Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014)

Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by vkou on Tuesday February 16, 2021 @01:37PM (#26157170)

Market cap of the Ruble is 800 billion USD, market cap of BTC is currently 900 billion USD.

Depending on the kind of regulation, its value would either be roughly the same (if the regulation is of the KYC form), or would go into free-fall (if the regulation is of the 'this is illegal, starting 30 days from now').

But that's not my point. My point is that the much touted BTC resilience to a 49% attack is a solution to a problem that nobody has.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by shawnz on Tuesday February 16, 2021 @02:16PM (#26157616)

Well interestingly, the cost to maintain the Russian military is only about 10x higher than the cost to maintain Bitcoin (and obviously the Russian military is defending more than just the currency).

> My point is that the much touted BTC resilience to a 49% attack is a solution to a problem that nobody has.

If nobody has the problem, then nobody will buy it.

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