Aside speculation that 51% attack can be done or not. Why would anyone Bitmain or other bad actors want to forceful split the network?
It would do no good to the BTC. I can see only negative consequences: price of BTC will crash (both chains), attack of this magnitude will undermine faith in bitcoin.
The only victor after forced BTC hard fork will be altcoins, mainly: Ethereum and Litecoin.
You can say that Ethereum did the same after the DAO fail, no it wasn't the same, ETH fork was done by high priests in power, Vitalik and ETH foundation not the usurpers.
Topic: Is a 51% attack currently viable? - page 2. (Read 1390 times)
According to Gavin Bitcoin Unlimited could be preparing for an attack anytime and of course, you don't need 51% of the hashrate to accomplish it.You only need to make the original chain unworkable
The closest anyone is to that right now is BITMAIN. Speculation about how much of the hashrate they actually control is varied, but it's most likely well over 20%. Also, a huge amount of the miners which they don't have mining at their pools are bought from them as they own a monopoly over the ASIC industry.
However, that doesn't mean they could actually pull off a 51% attack. If it was noticeably getting close, people would probably avoid their services and prevent it like they did with ghash.io.
However, that doesn't mean they could actually pull off a 51% attack. If it was noticeably getting close, people would probably avoid their services and prevent it like they did with ghash.io.
Would they avoid it even it gives them a lower profit/revenue?
It's very unlikely that it could happen really.
No, the biggest threat would be Bitmain, especially with unpatched miners and antbleed. It's not a worry in my mind for now
I do agree with your statement that bitmain is the biggest threat today since I guess they have the most number of miners in the records. Even if they cannot possibly do a 51% attack but still they can do some 20% to 30% attack. But let us just hope that bitmain will not do that and if in case they will it will be a big trouble and problem on the blockchain.
The closest anyone is to that right now is BITMAIN. Speculation about how much of the hashrate they actually control is varied, but it's most likely well over 20%. Also, a huge amount of the miners which they don't have mining at their pools are bought from them as they own a monopoly over the ASIC industry.
However, that doesn't mean they could actually pull off a 51% attack. If it was noticeably getting close, people would probably avoid their services and prevent it like they did with ghash.io.
However, that doesn't mean they could actually pull off a 51% attack. If it was noticeably getting close, people would probably avoid their services and prevent it like they did with ghash.io.
Would they avoid it even it gives them a lower profit/revenue?
The closest anyone is to that right now is BITMAIN. Speculation about how much of the hashrate they actually control is varied, but it's most likely well over 20%. Also, a huge amount of the miners which they don't have mining at their pools are bought from them as they own a monopoly over the ASIC industry.
However, that doesn't mean they could actually pull off a 51% attack. If it was noticeably getting close, people would probably avoid their services and prevent it like they did with ghash.io.
However, that doesn't mean they could actually pull off a 51% attack. If it was noticeably getting close, people would probably avoid their services and prevent it like they did with ghash.io.
At the present, does any one company have the capabilities to do it?
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