[wooby]

> Realize a successful 51% attack is just the beginning of the war, not the end of it.

I think you're right; the war will go on for awhile. But I'm convinced by https://news.ycombinator.com/item?id=28028542 that in the end, if anything bests fiat, it will be gold.

Barring some new technological breakthrough, it seems to me that bitcoin has no value in a fiat world, and no value proposition in a sound money world. It's a noble dead end.