Author: Tom Language: text
Description: Plan B Podcast - Feedback Timestamp: 2013-06-18 16:26:48 +0000
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  1. I am not sure if this was covered and i missed it but i found it very interesting. I am by no means an expert, this is just a thought on the idea of a 51% attack.
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  3. 51% attack on bitcoin
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  5. although it appears that some still fear it and some dismiss it as not possible, i think it still could be under the right conditions.
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  7. Take the fact that ASIC will become the new standard, this will kill off a large portion of miners and centralize them into fewer locations. Now given enough time it could be plausible that the majority of the mining is controlled by a few. If someone where to hack those few and interrupt them for a few minutes they could then become 51%.
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  9. Some comparison to today's numbers:
  10. We see on the mining pools that BTC, ASIC, 50BTC and slush control the top most of the pools. Now say someone hacked BTC, 50BTC, and Slush to gain control for what they say is a resolved block (not sure if this is fully possible but with those virus coming out who knows anymore). They now control over 51% of the hashing power. They could then modify the block chain how they see fit, not by controlling the hashing but the connection to the hashing.
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  13. I am sure i have some things wrong here, but a modified version of this could be possible couldn't it?
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