Tag Archives: 51 percent attack

Bitcoin Reaches Critical Mass

Must... Not... spend... Rent Money... on Moar Bitcoins!

Must… Not… Spend… Rent money… On Moar Bitcoins!

I’m hearing so much good news about the growth & future of Bitcoin these last few weeks that I’m fully convinced that bitcoin has reached the critical mass it takes to ensure success. The mind boggles at how much good news is churning out each day in fact and how this news is going to effect the price of bitcoin… But then I start to wonder, why hasn’t the upward surge started yet?

The answer must be that only hardcore bitcoiners are hearing this stuff so far… The mainstream public is still trying to just wrap their heads around what bitcoin is, and frankly just isn’t ready to understand ┬áthe significance of all these investments, laws, new services, and new vendors. That, and I probably don’t speak the language where most of the bitcoin news is being reported. Continue reading

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The Futility of a 51 Percent Attack

Bitcoin is more invincible than most people would believe.

Bitcoin is more invincible than most people would first think.

Barring a worldwide lack of interest in either money or the internet, there are exactly three ways to kill Bitcoin, at least in theory. They are:

1.) To destroy all of humanity… Which I doubt needs any explanation.

2.) To use massive Electromagnetic Pulse (EMP) attacks against all civilized pockets of humanity, ensuring no line of communication survives. (A nuke detonated high above every city over 1,000 ppl in size worldwide should do the trick.)

3.) To employ a well timed 51% attack… But I’d like to bring up the argument here that this option really won’t work afterall. Continue reading