Topic: The "51% attack", what is it exactly ? (Read 1196 times)

So if someone play big with a super computer etc. and make a trick then bitcoin will be unthrusted. Any goverment can to that. Maybe code has to be updated?BTC going higher everyday and also stock is increasing. some big pools can be make a dirty agreement and make this trick too. So is bitcoin still safe?

Hello,

Last days I keep reading absurd claims like bitcoin is broken because of some possible 51% attack. From what I read a pool that reaches 51% could create blocks that shouldnt be there, but as far as i know a bitcoin pool still consists of hundreds if not thousands of individual miners ?

Can anyone explain this to me ? and why this is BS if it is ?

Thanks 

IN 2020
In the Federal Reserve...

Peeon 1: Sir, we've finished printing the latest boatload of money which will be used to "bail out" the holding company your associates created which owns all of those SBS (Server Backed Securities). We should gain control of the assets within days.
Federal Reserve Chairman: Very good.... all is moving forward according to plan.
Peeon 2: Also sir, may I interest you in High-Speed Internet for Businesses, by Comcast...

Meanwhile, in China...

Peeon 1: Sir, we've finished arresting the managers of the ASIC mining investment firms under charges of financial fraud. We should gain control of their assets within days.
Financial Enforcement Chairman: Very good... all is moving forward according to plan.
Peeon 2: Also sir, may I interest you in High-Speed Internet for Businesses, by Baidu...

Several months later, at the Federal Reserve...

Peeon 1: Sir, its no good, for some reason difficulty appears to be rising exponentially - no, I mean more exponentially than normal! Also, some researchers at NYU are becoming dangerously close to uncovering the source of the blackouts currently plaguing New York!
Federal Reserve Chairman: OH GOD DAMN IT

Meanwhile...

Peeon 1: Sir, its no good, for some reason difficulty appears to be rising exponentially - no, I mean more exponentially than normal!
Financial Enforcement Chairman: OH MAO DAMN IT

Even though it's a little taboo to mention, the truth is: Bitcoin's developer abandoned the project years ago and disappeared into thin air. If he was still around he would be actively evolving the coin and addressing issues like this one in a clever manner. Bitcoin without Satoshi is like Apple without Jobs.

To my understanding, the only coin actively developing a 51% defense is Goldcoin whose developer is actively building upon Satoshi's unfinished work.

Even though it's a little taboo to mention, the truth is: Bitcoin's developer abandoned the project years ago and disappeared into thin air. If he was still around he would be actively evolving the coin and addressing issues like this one in a clever manner. Bitcoin without Satoshi is like Apple without Jobs.

To my understanding, the only coin actively developing a 51% defense is Goldcoin whose developer is actively building upon Satoshi's unfinished work.

Bitcoin without Satoshi is like Apple without Jobs.