30 sats \ 8 replies \ @Satosora 12 Aug \ parent \ on: Should the US Government Acquire a Bitcoin Reserve? • Listen on Fountain bitcoin
We wont get to choose. Im also worried what will happen if they adopt bitcoin, then make a huge mining facility trying to get the 51%. That would really rip some seams.
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30 sats \ 7 replies \ @Undisciplined OP 12 Aug
From what I understand, a 51% attack actually requires far more than 51%, because of the probabilities involved.
I suppose it's possible they would pursue that, but I don't think it's likely.
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26 sats \ 6 replies \ @Satosora 12 Aug
Its highly unlikely, but I dont rule it out. Especially once they get in their mind that they could control the whole blockchain by doing that.
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20 sats \ 5 replies \ @Undisciplined OP 12 Aug
Wouldn't people just stop using it, though? It seems like a very crude and expensive attack on bitcoin savings. Considering that many mainstream investors hold Bitcoin now, I'm not sure why they'd want to do this.
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37 sats \ 4 replies \ @Satosora 12 Aug
If they can get a 51% attack, they could potentially increase the amount of bitcoin. IF bitcoin gets as big as everyone thinks, wont that be worth it?
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20 sats \ 3 replies \ @Undisciplined OP 12 Aug
No, it would go to zero, because trust would be lost in the network.
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20 sats \ 2 replies \ @Satosora 12 Aug
Someone is always left holding the bag. If the USA uses it as a reserve currency, wouldnt others, too? Do you understand where this is going? Trust isnt lost instantaneously.
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20 sats \ 1 reply \ @Undisciplined OP 12 Aug
If others are holding it then they will also likely be mining it, if only to defend against a 51% attack.
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37 sats \ 0 replies \ @Satosora 12 Aug
I guess it depends on how organized the governments are. I guess its not a race for nuclearization, it would be a race for bitcoin mining.
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