If they had control over Bitcoin they would not be taking measures like this.
(twitter.com)
😷 DEM PANIC 💉
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (229)
sorted by:
Remember the US Government is a multi-trillion entity, so it can brute force things it can't hack and flat out break things in quantity if it chooses. Bitcoin uses a proof of work method and can thus be attacked if the majority of the hashing power is controlled by an entity with malicious intent.
The entire Bitcoin network right now has a hashrate of just about 232 ExaHash per second. I can replicate that with roughly 2.32 million WhatsMiner M30S+ which would cost just a hair under $20 billion to buy. But given roughly 50 miners account for nearly 50% of the hashing power of the network, I'd take out some of the biggest to make it easier.
Interesting theory, a few things to consider...
You can't just buy 2.32M miners right now, so there is a long lead time, there would be a miner arms race which will incentivize other miners (gov/independent) to purchase miners the resultant is an exponential increase in Hash rate. Basically you're adding an additional 2.32M miners to the pool. It would be MUCH easier to just BUY BTC.
When hash increases the difficulty curve increases.
And don't' forget the Nodes <- this is where the true power is.
The majority of the hash rate last year was within China's borders... but DS being DS, they want a fully controlled centralized CBDC, so not within their best interest.
The government created supercomputers with Playstation parts when they couldn't get the parts needed otherwise.
Hopefully the Gov can salvage specialized microchips to make mining rigs :)