Re:The political case for a blanket cryptocurrency ban
by dnautics on Wednesday March 31, 2021 @04:59PM
(#26653120)
Why wouldn't the network soft fork?
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Re:The political case for a blanket cryptocurrency ban
by hudon on Wednesday March 31, 2021 @05:42PM
(#26653502)
If stakeholders can manipulate the network to ignore a chain with more work, you’ve kind of undermined the whole proof-of-work thing and conceded that Bitcoin is ultimately subject to politics just like any other financial system.
Re:The political case for a blanket cryptocurrency ban
by tubbyjr on Wednesday March 31, 2021 @06:58PM
(#26654232)
Semantics, semantics, semantics, that's all your arguments are.
Soft and hard forks are a defensive mechanism against 51% attacks, essentially making them an always losing proposition outside of the immediate-term where the attack is occuring, because the attacker has to expend so much money, and then a simple code change could revert it, which would likely happen in consensus for the network if such a malicious attack would occur. Hence, no rational actor will likely even consider a 51% attack.