On: Bitcoin Is Time

[domatic1]

- 51% attack is unlikely, pools have mining power but every miner on the pool has to agree to the attack so it is still decentralized.

- energy usage of gold is worse, that's not a good argument. What is the energy use of air conditioners?

- transactions are slow yes but bitcoin is now used as a store of value

- I'm sorry but nano doesn't have the network effect Bitcoin has and never will.

[lxgr → domatic1]

> every miner on the pool has to agree to the attack so it is still decentralized

Do you think most miners are continuously auditing the blocks they are solving?

Yes, long-term they'd switch away from a dishonest/non-value-aligned pool, but the damage might already be done at that point.

[imhoguy → domatic1]

> 51% attack is unlikely, pools have mining power but every miner on the pool has to agree to the attack so it is still decentralized.

Ok, what if they agree somehow either by govt order or massive worm hack (Stuxnet like)?