Grant comments on Stupid Questions March 2015 - Less Wrong

5 Post author: Gondolinian 03 March 2015 11:37PM

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Comment author: Grant 27 March 2015 05:55:53PM 0 points [-]

Why does anyone think BitCoin is going to work when its users aren't mostly BitCoin enthusiasts?

I'm specifically referring to incentives of 51% attacks. The returns on mining seem to increase as computing power eclipses 50%, creating an economy of scale in mining and incentivicing attacks.