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Topic: 51% attack - page 6. (Read 5169 times)

legendary
Activity: 2338
Merit: 1035
April 14, 2014, 06:18:01 AM
#9
don't be too afraid, a 51% attack would destroy btc and drive its value to zero

no one will do that to steal coins, because they would become worthless, so forget bribing miners

only someone who wants to destroy BTC would do this and I don't think this is likely to happen (buy some VTC & such as insurance)

Well, like he mentioned in the video there are terrorists with alot of money
They might not be in for the profit but rather to destroy

I do hold 34 vtc actually Cool
legendary
Activity: 1372
Merit: 1014
April 14, 2014, 06:15:23 AM
#8
don't be too afraid, a 51% attack would destroy btc and drive its value to zero

no one will do that to steal coins, because they would become worthless, so forget bribing miners

only someone who wants to destroy BTC would do this and I don't think this is likely to happen (buy some VTC & such as insurance)
sr. member
Activity: 266
Merit: 250
April 14, 2014, 06:04:54 AM
#7
Hope it dosent happen
sr. member
Activity: 365
Merit: 251
April 14, 2014, 04:49:23 AM
#6
He made it sound more expensive than I expected. There was an Ars Technica article about a miner which implied $60m might be enough. I guess that's because it does change with time. He does mention it being cheaper a few months ago.

Part of Bitcoin security comes from it being more profitable to use the 51% to mine for honest block rewards than to attack Bitcoin. Perhaps he'll address that point in the second video.
legendary
Activity: 1937
Merit: 1001
April 14, 2014, 03:03:03 AM
#5
Nothing new here, we have been talking about this for years now on both irc and the forum, but he explains it nice and clear. Hopefully putting it in a video this way people will start to care about it a bit more to find a solution.
legendary
Activity: 2338
Merit: 1035
April 14, 2014, 01:26:48 AM
#4
Yep, we're all doomed. Remember you heard it here first.

Sarcasm?? This don't look too great... but I guess it can be solved?
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
April 14, 2014, 01:23:33 AM
#3
Yep, we're all doomed. Remember you heard it here first.
legendary
Activity: 4424
Merit: 4794
April 14, 2014, 01:22:38 AM
#2
https://www.youtube.com/watch?v=bi2thGzzNSs

seems like it's alot easier then some people claimed...

in theory.. you dont need to buy thousands of ASICS.

you just need to bribe the top 3 mining pool owners to collectively use a different mining script that you have coded.

bribing 3 mining pool owners is much cheaper then buying the equipment
legendary
Activity: 2338
Merit: 1035
April 14, 2014, 01:10:53 AM
#1
https://www.youtube.com/watch?v=bi2thGzzNSs

seems like it's alot easier then some people claimed...
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