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G Force G 5mo ago

#asknostr

what is to stop a coordinated global elite from implementing a 51% attack on bitcoin. How difficult would it be for them to block ports at the network level for all nodes but their own (AWS, Azure Alibaba) and then attack the network? FDR stole the gold, why can't they steal the bitcoin while at the same time telling the normie's that it was for preventing funding of terrorism, money laundering, etc... You know, all the stuff that they openly do themselves.

Can mesh networks of Lora and Bluetooth combat this effectively? Am I just paranoid or can that creepy eyeball at the top of the pyramid lock-down bitcoin like they locked down everything else 5 years ago?

I don't see anything better than bitcoin, especially for payments over the internet. But at least they have to show up to your house to steal your physical assets.

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Discussion

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G Force G 5mo ago

I have to say that the fact that they are buying it up supports the idea that they won't attack it. Maybe they fear it would trigger a bloody revolution...

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🇵🇸 whoever loves Digit 5mo ago

Mesh networks would struggle to combat this effectively. It's a possibility to keep in mind & part of why it's good to also have other money like gold and silver.

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Corey San Diego 4mo ago

A 51% attack isn't about controlling nodes its about controlling hash rate.

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G Force G 4mo ago

That makes sense. I didn't think of it that way. Do you think an aspirational hardware cartel like google and could achieve the goal?

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WestleBittle 4mo ago

A 51% attack, needs to be maintained indefinetly to allow for theft of bitcoin.

Your private self hosted node will only follow the chain of valid blocks.

What is more likely, is not a 51% attack, but that that majority of the mining pools agree to censor a certain set of transactions or addresses, making moving 'frozen' funds much more difficult.

There is no rule about what transaction can be excluded or blacklisted from a block, only about which ones are valid.

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G Force G 4mo ago

Is this considered a fungibility flaw?

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G Force G 4mo ago

To mixers fix fungibility problems?

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G Force G 4mo ago

Maybe this is a question for the judge of #samurai