re: Predict the 12/31/2014 bitcoin price (plus 2013 year in review)

quote:

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Now that I have learned about the btc 51% self destruct mechanism, I now know bitcoin will exist only as long as it is viewed as a harmless internet fad.

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Yeah, it wouldn't be the first time that a 51% attack would destroy a cryptocurrency. The sheer amount of equipment to do it to bitcoin would be ridiculous though, but I really wouldn't be surprised eitherway. I believe that it could be prevented simply by pools capping the hash rate of the pool. If the worker's are distributed over different pool's evenly, then the chances of it happening are even lower than they already are. That won't happen though, just because the pool owner's would be losing out on the automated fee's that they rake in.