On the other hand, Internet uses a lot of energy. 10% of the electricity according to this study: https://www.insidescandinavianbusiness.com/article.php?id=356
You need to crash the trust in it, not just the value. Maybe NSA could dedicate all their computer power for a day or two to bitcoin mining, pretending to be some unknown group with minimal resources that must have come up with some new algorithm to calculate the hash orders of magnitude faster than anyone else. That should make owners of bitcoin scared since anyone with control of the mining can add fake transactions into the chain.
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On the other hand, Internet uses a lot of energy. 10% of the electricity according to this study:
https://www.insidescandinavianbusiness.com/article.php?id=356
Yeah, I was thinking about that, but I didn't know the number. 10% is huge! Or at least, 2 or 3 times larger than I thought I'd heard about. Thanks.
If you can figure out a way to crash bitcoin you can put a dent in the number.
Maybe if Bitcoin crashes there will suddenly be many more buyers.
You need to crash the trust in it, not just the value. Maybe NSA could dedicate all their computer power for a day or two to bitcoin mining, pretending to be some unknown group with minimal resources that must have come up with some new algorithm to calculate the hash orders of magnitude faster than anyone else. That should make owners of bitcoin scared since anyone with control of the mining can add fake transactions into the chain.
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