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qroshan

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qroshan
·7 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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 ปีที่แล้ว·discuss
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