Comment Re:Did they actually look at the bitcoin rules? (Score 1) 301
From the article:
"That threat began to feel genuine in January this year when the G.Hash mining group from China grew to control 41 percent of the network’s power, before backing off in the face of outcry. Nonetheless, the dominance of a handful of large mining operations suggests a 51 percent attack remains possible, whether from one growing or two colluding. G.Hash now controls 29 percent of the network’s power, with the next three largest controlling a further 42 percent between them."
What's to stop a government from forcing the top few groups to do a 51% attack under duress? (Via an all out secret or public war on bitcoin.)
Some scenarios: G. Hash group is forced to collude with the Chinese government and their own secret offline cloud of servers to do a 51% attack. US could force Amazon Cloud, MS Cloud, NSA servers, etc. to all run the mining software and do 51% attack with the sole intention of destabilizing and ruining Bitcoin. And US, Russia, China could all work together and force collusion on the top groups in their countries with threat of jail or execution.