Bitcoin Gold 51% Attacked - Network Loses $70,000 in ...
Bitcoin Gold 51% Attacked - Network Loses $70,000 in ...
51% Attack Blockchain - BitcoinWiki
BTC.top and BTC.com Execute 51% Attack On Bitcoin Cash ...
Miner ID and debunking the 51% attack - CoinGeek
51% Attack - How to rewrite the blockchain.
[ Bitcoin ] 33 years ago, miners in the ukraine caused an environmental disaster when they attempted a 51% attack on bitcoin
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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 […]
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.
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
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.
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.
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!
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.
How could it look like?
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...
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 ...
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...