One of the most robust explorations I've read on the economic & game theoretic limits of #Bitcoin & #PoW more broadly: http://www.nber.org/papers/w24717 pic.twitter.com/dUc7JdVrPl
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I don't understand your argument here. Why would that be the case?
Because the payouts will be enormous while mounting an attack will still be attainable to at least a few (think Soros shorting the pound kind of situations).
I think Soros would thrive in a world of crypto-currencies. Most billionaires would, but the governments will be left holding debt and paper, unless they accept Bitcoin as a form of payment for taxes.
Who are the likely attackers pre-bitcoinization? I can't imagine banks having much influence, all they do is print money, which just encourages Bitcoin adoption. Arbitrary laws from Governments, just means that innovation will leave their country.
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