Bitcoin Gold 51% Attacked - Network Loses $70,000 in ...

[ Bitcoin ] 33 years ago, miners in the ukraine caused an environmental disaster when they attempted a 51% attack on bitcoin

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10-02 17:55 - '33 years ago, miners in the ukraine caused an environmental disaster when they attempted a 51% attack on bitcoin' (standardcrypto.wordpress.com) by /u/standardcrypto removed from /r/Bitcoin within 3214-3224min

33 years ago, miners in the ukraine caused an environmental disaster when they attempted a 51% attack on bitcoin
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Author: standardcrypto
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33 years ago, miners in the ukraine caused an environmental disaster when they attempted a 51% attack on bitcoin (x-post from /r/Bitcoin)

33 years ago, miners in the ukraine caused an environmental disaster when they attempted a 51% attack on bitcoin (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

👉 Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin ⏰ 4 MINUTE BITCOIN SHOW #619

👉 Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin ⏰ 4 MINUTE BITCOIN SHOW #619 submitted by Crypto-Cousins to CryptoCousins [link] [comments]

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

submitted by raaner12 to Altcoinss [link] [comments]

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin submitted by Ranzware to BitNewsLive [link] [comments]

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin submitted by InTheKnow_2016 to mrcryptolive [link] [comments]

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

China accounts for more than half of the world’s Bitcoin mining capacity but Jameson Lopp, the co-founder and CTO of Casa, has hosed down fears that Chinese miners are a threat to Bitcoin in a blog post on Aug. 9. Although many people have raised concerns over the concentration of such much hashpower being located in […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

What is a full-node worth, if only miners can do a 51% attack. Where is the security? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Bitcoin SV Gets Taken Over By Mystery Troll Miner - is this 51% successful attack?

Bitcoin SV Gets Taken Over By Mystery Troll Miner - is this 51% successful attack? submitted by scgco to GGCrypto [link] [comments]

Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain

Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain submitted by olahdonat3 to CryptoMarkets [link] [comments]

Bitcoin Cash Miners Undo Attacker's Transactions With 51% Attack

Bitcoin Cash Miners Undo Attacker's Transactions With 51% Attack submitted by mjslawson to Bitcoin [link] [comments]

Bitcoin Gold Suffers 51% Attack, Malicious Miner Double-Spends $70,000 Worth of BTG

Bitcoin Gold Suffers 51% Attack, Malicious Miner Double-Spends $70,000 Worth of BTG submitted by ThrillerPodcast to thrillerpodcast [link] [comments]

Coinbase Sides With Bitcoin Cash (BCH) Miners on 51% Attack Smack

Coinbase Sides With Bitcoin Cash (BCH) Miners on 51% Attack Smack submitted by GregorioThomassoni to btc [link] [comments]

Bitcoin Gold Suffers Its 2nd and 3rd 51 Percent Attacks Over Two Years. The miners saw to it that approximately $72,000 in BTG funds were double spent. This is money in their pockets after they gained control of the network’s hash rate.

submitted by Mike_Fans_Club to CryptoCurrencyTrading [link] [comments]

Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin). Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing. Faketoshi lost, community won

Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin). Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing. Faketoshi lost, community won submitted by money78 to btc [link] [comments]

"[Glad you didn't get 51%'ed](https://www.coindesk.com/bitcoin-cash-miners-undo-attackers-transactions-with-51-attack). BCH miners are cheating crooks." [-11]

submitted by NegativeWithGoldBot to NegativeWithGold [link] [comments]

Just two individuals control ~61.11% of the BCH hashrate. It's not "decentralized", it is a 51% attack by a single group of collaborating selfish miners. They will steal coins and distribute them amongst themselves. Bitcoin (BCH) cannot take this risk.

Also keep in mind that the reason they went from 40% to 60-70% is because hashrate moved away to mine BTC (more profitable by 30%). This hashrate should return by the 15th if those miners see BCH as valuable.
I do believe that BSV has a right to exist on its own chain. If they want to open themselves up to poisonous blocks by increasing their forked blocksize to 128mb, they should be allowed to. BCH is too valuable to risk something like that until testing shows that it will be safe to do.
submitted by masterD3v to btc [link] [comments]

Can we get a miner farm to conduct a 51% attack on Bitcoin SV?

Title.
I'm pretty sure that I am not the only person here who shares the same sentiments. If I had known this was going to happen from summer 2018 onward, I would've held on to my antminer S9 just to contribute some hashpower to mining blank blocks for faketoshi.
submitted by sgtslaughterTV to CryptoCurrency [link] [comments]

Remember: those who are participating in “hash wars” have nothing to lose because they can always switch back to Bitcoin! The standard “miners won’t 51%-attack the chain because they will lose their investment” logic doesn’t apply here!

Remember: those who are participating in “hash wars” have nothing to lose because they can always switch back to Bitcoin! The standard “miners won’t 51%-attack the chain because they will lose their investment” logic doesn’t apply here! submitted by Har01d to btc [link] [comments]

"If Segwit2x miners manages to kill original chain with a 51% attack, Bitcoin will eventually lose the crypto throne. My bet is on Litecoin." -Coblee

submitted by ecurrencyhodler to litecoin [link] [comments]

If miners can agree on not mining on top of blocks > 300kB even though that is the longer chain, they could also agree on not mining on top of a hostile 51% attack chain rolling back legitimate Bitcoin history.

Shower thought. How to socially prepare a formalisation to react upon a politically (not economically) motivated 51% attack that could roll back the blockchain not only a few blocks but days or weeks, causing disastrous consequences if the honest miners blindly switch to the longest* but evil chain. A social control is needed to prevent this.
  1. How could it look like?
  2. What do you think will happen if such an attack happened tomorrow?
Discussion is opened.
(I think it is good to think about it before it happens - just to be prepared. The worst thing one can do is to deny the possibility that it can ever happen. Conversely, if it is seriously taken into account and counter measures are prepared, then the likelihood that it happens is minimized.)
*Edit: Of course when I say "longest chain" I mean "chain with most POW". Don't correct me on this - that's semantics, you know what I mean...
submitted by Amichateur to Bitcoin [link] [comments]

Bitcoin 51% Attack - Clearly Explained Miner Centralization: BIG RISK For Bitcoin?? Crypto 51% Attacks in 2019 - What to Expect, How Do They Work? A 51% Attack on Bitcoin Means Mutually Assured Destruction Verge Mining Under 51% Hashrate Attack

Despite 51% attacks being debunked in Section 11, ‘Calculations’ in October 2008 when Satoshi released the Bitcoin whitepaper, those who misunderstand the nature of proof-of-work chains continue to bring this up as a concern. The article claims that the hash rate on Bitcoin SV rose from 675 PH/s to 1535 PH/s over a period of 9 days. This ... A 51% attack successfully coordinated on the Bitcoin Cash network has quickly been brushed past. The 51% attack was successfully coordinated by the BTC.top and BTC.com mining pools. Prior to the 51% attack, a bug was exploited during a Bitcoin Cash network upgrade which resulted in both a chain split and the mining of empty blocks. The Bitcoin Gold (BTG) network suffered from 51% attacks on January 23-24, as roughly 29 blocks were removed in two deep blockchain reorganizations (reorg). 51% attack and Bitcoin . What is a 51% Attack - Bitcoin Tutorial. ... but by the number of coins that the miner already has. That is, to generate 51% or more of the units must have 51% of coins, which makes the attacker the most injured member of the network. Thus, commercial hacking is excluded completely, and destructive becomes difficult and ... 51% Attack. Rewriting the blockchain. A 51% Attack refers to the act of intentionally building a new longest chain of blocks to replace blocks in the blockchain.This allows you to replace transactions that have been mined in to the blockchain.. This kind of attack is easiest to perform when you have a majority of the mining power, which is why it’s referred to as a “Majority Attack” or a ...

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Bitcoin 51% Attack - Clearly Explained

Coins like Verge, Ethereum Classic, Bitcoin Gold, etc. have all suffered attacks. A big reason this is now possible is because mining power is increasingly available for rent via services like ... Do you REALLY understand Bitcoin 51% Attack? Programmer explains. - Duration: 11:28. ... What Bitcoin Miners Actually Do - Duration: 9:54. Alex Millar 108,724 views. 9:54. Bitcoin 51% Attack - Clearly Explained In this video I explain what a 51% attack is in the world of blockchain & cryptocurrency. Did you enjoy this video? SUBSCRIBE for more: https://www.youtube ... In what other ways do you think bitcoin could be attacked? Let us know in the comments section below. Read full story: https://news.bitcoin.com/a-51-attack-o... Hello everyone, In today's video we will learn why a 51% attack is impossible on Bitcoin As you know, Bitcoin makes use of a public ledger which is called "B...

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