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x1000 | 5 years ago
Look at Ethereum v Ethereum classic. Same deal. We have two chains that share a common history, yet at some point the users of both decided to split and then society had to come to a consensus on what each chain would be called. Again, did the miners sit around and conspire to which chain would be called "Ethereum?" I don't think so. I think the decision was decentralized and emergent.
My point is, even if there was a nefarious actor who attempted a 51% attack, it seems like there would be enough of a societal pressure to ignore their empty blocks. There would exist a chain that would still be valued by the perpetrators, but not so much by the individuals being harmed by such an attack. The attacked chain would be maintained and acquire a new name "Bitcoin Hacked" or something similar, and the chain where society ignores the empty blocks would go on its merry way still being called "bitcoin."
habitue|5 years ago