Quote from newguy05:
I disagree, it really is not, all those asic need to do is solve sha-256. We are talking about a few guys with very limited resource in the basement here. If goldman sachs were to do it for example, they will drop $10mill in r & d and easily get one of the many professional firms to get it done and fast track with tsmc foundry and foxconn-type assembly. Look how many iphones/ipads get pumped out a day, this is just a drop in the bucket.
Those banks already have multiple data centers, all those asic will just be blade rackmounts. The infrastructure setup is really not that difficult, again you are only thinking mom & pop setups, you need to think how a large company with access to hundreds of billions in resources & funds will attack this. It's a walk in the park.
i agree it gets more difficult as time goes by that's why i am saying we need to grow slow and steady until the network becomes too difficult to attack.
You cannot patch and defend if within a week another 36K TH came online for example, unless you track down their datacenter and physically shut it down.
It will be too late by the time the "good guys" catch on.
Yes they are ignoring now because there is no impact to their bottomline, but if bitcoin becomes too popular and actually getting used as a currency, you bet they will take notice and try to shut it down, as by design, there is no way for them to profit on the transactions otherwise as an exchange. Hopefully by then the network is too big.
