Re:Are cryptocurrencies to blame for high GPU prices?
by runeks on Saturday January 01, 2022 @12:56PM
(#29760824)
> If nvidia straight up just stopped selling any cards, declined all their client/customer base, and just put 100% of their global output to mining cryptocurrencies, I think it's a good chance nvidia can do a 50%+1 attack on both bitcoin and ethereum at the same time.
No, not for Bitcoin. GPUs are no good at mining Bitcoin; you need an ASIC for that.
> Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves […]
No. Having a majority of mining power does not enable anyone to assign currency to themselves, except for the mining reward. That would require faking digital signatures.
No, not for Bitcoin. GPUs are no good at mining Bitcoin; you need an ASIC for that.
> Once they successfully do the attack, they can take over the blockchains and allocate all cryptocurrencies to themselves […]
No. Having a majority of mining power does not enable anyone to assign currency to themselves, except for the mining reward. That would require faking digital signatures.