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April 04, 2015, 02:57:53 AM

All this talk about how "miners would never attack the network because that would destroy confidence in the blockchain and they would stop making money" is kinda bogus IMHO.

Basically double spends already happened but the bitcoin community just looks the other way and pretends that never happened.

Are you sure "miners have no incentive to perform double spend attacks" if all that happens after a double spend (that doesn't seem that easy to investigate into too apparently) is some posts on reddit trying to figure out what the hell happened and bitcoiners just forgetting about it?

Apart from, are there more miners trying to destroy the network, or trying to facilitate it?

If the market really says that its more profitable to destroy it, then maybe that will happen....if not, then why would the attackers choose a less profitable option? if it was more profitable to support the network than decide to take it down? if attackers manage to destroy the network, then miners, will obviously shut up shop and go home, and become tulip farmers.