I think betterunix is not talking about a crypto flaw but a 51% attack; for ~$20... | Hacker News

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wmf on April 1, 2013 | parent | context | favorite | on: Bitcoin exchange rate reached $100 USD per BTC

I think betterunix is not talking about a crypto flaw but a 51% attack; for ~$20M you can buy enough ASICs to basically take control of Bitcoin. (I'm not convinced that mathematical concepts like "polynomial time" should be applied without consideration for economics, but that's a whole different topic.)

narcissus on April 2, 2013 | [–]

I'll just hope that if someone decides to go down that route, then at least one other person does too :)

cjg on April 2, 2013 | [–]

Which provides an interesting way to value BTC. If the total value goes much over the cost of a 51% attack then it is overvalued.

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