qroshan · HackerTrans

7 tahun yang laludiscuss

It all depends on who is doing the attacking. If the attacker is a state government or someone with billions of dollars and compute to spare, ASICs aren't going to fight this losing battle. Heck, you can buy off the ASIC miners for a few million dollars (all we have to cover is their net profit, which is pretty low)

qroshan

7 tahun yang laludiscuss

If the liquidity is enough, 1) Short Bitcoin to the tune of several Billion dollars. 2) Do a 51% attack and essentially prove it's worthlessness. 3) Profit

qroshan

7 tahun yang laludiscuss

There is a reason you are lurking in HN instead of working in a hedge fund.

The theoretical maximum value one can gain from Bitcoin going to $0 is it's market cap ($184,000,000,000).

If you take out the liquidity and risk, I can spend upto $184B to make the Bitcoin go to 0.

If you are state actor, you can direct all the energy and all the computers to attack Bitcoin

qroshan

7 tahun yang laludiscuss

The Market Cap of Bitcoin is $184,000,000,000

Theoretically, I can spend that much to make it's value go to $0. (yes, there are liquidity and other concerns, but you get the point)

qroshan

7 tahun yang laludiscuss

If my goal is to re-purpose, I would use a General Purpose Computer

The Market Cap of Bitcoin is $184,000,000,000

I have plenty of money to play with.

qroshan

7 tahun yang laludiscuss

So, if I were a hedge fund, I can effectively short Bitcoins and spend a piddly amount to build a datacenter to carry a 51% attack. If the attack fails, I can re-purpose my datacenter

qroshan

7 tahun yang laludiscuss

Huh? Clearly you are clueless about Tesla's financials.

Tesla's gross margin is a piddly 18%. They also need money to build and maintain service centers, super charger networks (all needed because Tesla doesn't have a dealer network or a gas network).

Then there is debt servicing, working capital, maintaining their plants, inflationary effects of labor wage (as their labor pool gain experience). All these are not discretionary R&D.

Tesla is fundamentally unprofitable and Musk suddenly has realized this and hence the major pivot to FSD (which is about 15 years away)

qroshan

7 tahun yang laludiscuss

1,000,000 tickets

$100 loss per ticket

Total loss for Google: $100,000,000 Google's cash balance is $120,000,000,000 Google's operating income in 2018: $30,000,000,000

Co-ordination and system changes required to pull this trickery for airlines probably: $100,000,000 (and not even sure if it's legal)

Can't believe how naive hacker news is when it comes to business and change-management and legal and pretty much everything else

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