[silk] Bitcoin
Peter Thoenen
eol1 at yahoo.com
Tue May 17 16:00:53 PDT 2011
>It is possible for any current governmental agency to hijack the entire
>system, due to their access to supercomputer infrastructures and/or immense
>budgets. This will however become less and less possible while bitcoin
>continues to grow and is already a massive and technological challenge which
>I do not see any governmental institutions execute proper.
I'm not so sure
that's true. Given the network at all times knows the amount of nodes out
there (hence the 50%+1 rule for consensus) it would be trivial for a NSA
(Nation State Actor, not TLA) to stand up 50%+1 virtual nodes fast enough to
gain consensus and usurp the currencies (tokens) if I understand correctly the
mechanism for determining legitimate tokens from the EconTalk interview. Am I
missing something here?
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