I understand from what you're saying that bitcoin is continually dependent on social customs that have already reached the verges of failure.
At the moment (some) miners are motivated to avoid 51% attack because they gain more from protecting Bitcoin's value than they do from profiteering with a 51% attack.
If that stops being the case, even for a moment, then the 51% attack will happen.
At the moment (some) miners are motivated to avoid 51% attack because they gain more from protecting Bitcoin's value than they do from profiteering with a 51% attack.
If that stops being the case, even for a moment, then the 51% attack will happen.
http://www.coindesk.com/eba-51-attack-remains-bitcoins-bigge... [2 weeks ago]