Why it is Nonsense to Say there is Not Enough Hash Power to Attack Bitcoin
No Additional ASICs Are Needed to Control Bitcoin
Last edited 2022–11–20
This article addresses the surprisingly common belief that Bitcoin has grown too big for governments to control. Don’t expect governments to share such short-sightedness. Complete control of the Bitcoin network is possible in multiple ways. No additional computing power will be required. To control Bitcoin, governments will simply use the computational power that already exists on the Bitcoin network. The existing network hash rate can be controlled.
Every Bitcoin transaction recorded on the Blockchain from anywhere in the world requires the confirmation of the majority of the Bitcoin mining hash rate. Governments that control (or direct) the majority of Bitcoin hash rate can, eventually, control all transactions on the main Bitcoin blockchain globally.
Bitcoin May Be the Creation of Government?
Bitcoin has its roots in intelligence agency cryptography. It is possible that forward-thinking intelligence agents created Bitcoin to provide controlled opposition to planned Central Bank Digital Currencies.
