19 Mar '17, 9pm

What a 51% attacker can and cannot do:

The answers so far focus on the algorithm itself, I have a few social economic thoughts to add. Let's assume Bitcoin is massively popular and indeed becomes THE global go-to currency, at this point this and similar questions become (very) relevant. What happens in maturing industries is that through commoditization and mergers smaller and smaller numbers of players remain. Through scale advantages this small number of players will be able to provide services at lower cost and squeeze out smaller players. I see little reason the industry of Bitcoin transaction processing will be exempt from this general rule. Next, we cannot foresee every aspect of the future, even though the Bitcoin designers did a terrific job there will be situations that will call for changes to the system. For example there might be a call from the people to stop child porn networks, to stop capital sh...

Full article: http://bitcoin.stackexchange.com/questions/658/what-can-a...

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