Bitcoin Q&A: Proof-of-work, attacks, and ASICs

How does proof-of-work prevent 51% attacks? Can the attacker change the whole chain in a 51% attack? How often has a 51% attack occurred? Could a government agency reverse a transaction? Did Satoshi foresee ASICs and how competitive mining would be? Does China control Bitcoin mining? Should we change the proof-of-work to solve this?

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