51% Attack Successfully Executed on the Bitcoin Cash ...
Bitcoin Gold 51% Attacked - Network Loses $70,000 in ...
Bitcoin Cash: Unbekannter Miner mit 51%-Attacke? – Block ...
BTC.top and BTC.com Execute 51% Attack On Bitcoin Cash ...
[ 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.
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!
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.
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...
Ein Angriffsvektor ist eine Strategie, um ein Netzwerk anzugreifen. Ein Proof-of-Work-basiertes Netzwerk ist beispielsweise Bitcoin. Dieser Angriffsvektor bekommt seinen Namen von den 51 Prozent der Hashrate, die benötigt werden, damit der Angriff gelingt.; Die Hashrate des Netzwerkes setzt sich aus der Rechenleistung aller minenden Computer zusammen. Home » Tech » Miner ID and debunking the 51% attack. Miner ID and debunking the 51% attack. Tech 26 March 2020 . Joshua Henslee . Another day, yet another article attacking Bitcoin SV with ignorant claims from the fake news cryptocurrency media outlets. On this occasion, serial offender Bitcoinist.com created an article based on a tweet from an anon account (as they often do) claiming that ... Bei Bitcoin Cash (BCH) hat ein bisher unbekannter Miner zeitweise mehr als 50 Prozent der Rechnerleistung in der Blockchain übernommen. Experten sind sich unsicher, ob hier womöglich eine 51%-Attacke vorbereitet wird. Bei Bitcoin Cash (BCH) schrillen die Alarmglocken: Denn die Daten zur BCH-Blockchain zeigen, dass seit einigen Tagen ein unbekannter Miner zeitweise mehr als die Hälfte der ... A 51% attack on the Bitcoin Cash network was successfully executed. The attack was carried out collectively by mining pools BTC.com and BTC.top to reverse a transaction executed by an unknown attacker which took advantage of a bug that allowed the attacker to enter transactions which would normally be deemed invalid. The Bitcoin Cash 51% attack has been entwined with complexities relating to an upgrade and bug exploitation. 3,796 BCH was double spent as a result of the attack with evidence indicating that the upgrade and bug are not necessarily related. Reactions regarding the event have so far been mixed. Quick take; A 51% attack was coordinated by the BTC.top and BTC.com mining pools which resulted in ...
Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin ...
Bitcoin Shadow attack can result in chain reorg which could lead to double spending. Get blockchain certified: https://academy.ivanontech.com join 20,000 stu... 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... What is a 51% attack and why is it only possible with Proof-Of-Work cryptocurrencies like Bitcoin and ZenCash? Lets review how all PoW coins can be the victim of a double spend hack and how much ... 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 ... For more information visit http://99bitcoins.com/51-attack-simplified-bitcoin-tutorial/ - A non technical blog about Bitcoin and the future of crypto currency