Plan to use your massive wealth

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Reference no: EM133694456

Question: You won the lottery and you plan to use your massive wealth to launch a 51% attack on Bitcoin. You successfully bought enough mining machines to achieve 80% of the network's computing power, without anyone noticing. Your plan is to double-spend on gold from Silk Road - with the amount of Bitcoin you have, you can normally only buy 1 ton of gold, but you expect to buy 2 tons with this 51% attack. Explain how that is possible.

Reference no: EM133694456

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