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by SubjectToChange
1902 days ago
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$1B would be more than enough to design and manufacture all the necessary ASICs to cripple the network. They wouldn't even need to do a 51% attack to do so, e.g. selling coins at a complete loss would bleed the other miners white. |
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Source? Some napkin math using the current bitcoin network hash rate[1] and the price/performance ratio of a yet-to-be-released bitcoin mining ASIC[2] suggests that you'd need $9.5B to take over the network.
[1] https://www.blockchain.com/charts/hash-rate
[1] https://shop.bitmain.com/product/detail?pid=0002021022419553...