undefined | Better HN

0 pointsNathanKP5y ago0 comments

A bitcoin transaction is considered valid as long as it is in the longest uninterrupted chain of blocks. If the military could buy and run enough equipment to create blocks faster than all the rest of the miners around the world combined then they could mess with Bitcoin's fundamental consistency by making longer chains of blocks than the rest of the world. The only thing preventing this from already happening today is that it would cost an insane amount of money to be able to mine blocks faster than everyone else in the system combined

0 comments

RcouF1uZ4gsC5y ago

>The only thing preventing this from already happening today is that it would cost an insane amount of money to be able to mine blocks faster than everyone else in the system combined

The US Military budget is insanely large. The total value of Bitcoin is estimated at around $160 Billion[0]. The annual military budget is 750 Billion dollars. If there is the will, being the money would not be the issue preventing such an attack.

0. https://www.investopedia.com/tech/how-much-worlds-money-bitc...

root_axis5y ago

The military also has access to extreme computing resources that are not available to the general public. If the pentagon cared to develop their own ASICs they could easily dominate the network.

NathanKPOP5y ago

Not going to lie I don't think the military or the pentagon is that sophisticated to build their own ASICs. They'd just buy ASICs from one of the Chinese miners that has already perfected the game. The primary resource at the US disposal is ridiculous sums of cash, but we aren't exactly on top when it comes to expertise and manufacturing.

j / k navigate · click thread line to collapse