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Scenario: The financial 1% feel threatened by bitcoin. The United States Federal Reserve convinces the senate that bitcoins utility for terrorism and untraceable payments and will cause tremendous fincanial upheaval. In secret, DARPA sets out in a Manhattan Project scale endeavor to preserve the American dollar, and of course by extension, the American way.
Filled with patriotic zeal to "defeat the terrorists", with money flowing less like rivers and more like major oceanic currents, could someone with the resources of the Federal Government of the United States of America undermine the bitcoin blockchain to destroy the bitcoin market, and if they could, how best would they go about it?
This question is extremely widely discussed. Please look up "51% attack". Anyone who is able to purchase hash power greater than the current worldwide total can effectively control the currency, deciding which transactions are confirmed or not, and locking out all other miners. – Nate Eldredge – 2017-07-20T20:32:52.673