Replying to Avatar Ken Berry, MD

I've been studying the "51% attack" fear about BTC, here's what I found

A 51% attack on Bitcoin is no longer feasible for ANY actor, even a nation-state or $100 billion corporation, because:

-The sheer scale of the hashrate is unprecedented.

-The energy, hardware, and infrastructure costs are insurmountable.

-The Bitcoin community and network’s resilience would mitigate the attack’s effects.

-The economic and reputational consequences would deter any rational actor.

-If a group of major nations outlawed it, investors would riot and/or ignore the law

What did I miss?
79
Duvel 11mo ago

Doing such an attack isn't a one of attack. They need to keep doing this every ~10 min. when a new block is mined, to stay in control of 51%.

Reply to this note

Please Login to reply.

Discussion

No replies yet.