Bitcoin Mining centralization and the 51% attack ...

Franko (FRK)

Franko is a high-value decentralized Internet currency that enables anyone in the world to recieve instant payment for goods and services.
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Check out this episode by Charles Hoskinson, featuring Sergio Lerner and Martín Medina! These two powerhouses from IOVlabs offer their approach to the latest 51% attack on Ethereum Classic, based on Bitcoin Merged Mining.

submitted by Maritu_ to rootstock [link] [comments]

Is it possible that Hollywood could game the mining process to achieve a 51% attack? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

If Bitcoin 10x its value and governments become interested in saving and trading in bitcoin. Some might redirect there nuclear plants to mining . There can even be attacks on power stations for rival countries. A distributed AI system would eventually figure out a strategy to get 51%.

submitted by rbirsan to Bitcoin [link] [comments]

Ivan on Tech - BITCOIN MINING ATTACK! Shadow Mining, Chain Reorg, Difficulty and 51% Attack - Programmer explains

Ivan on Tech - BITCOIN MINING ATTACK! Shadow Mining, Chain Reorg, Difficulty and 51% Attack - Programmer explains submitted by Yanlii to cryptovideos [link] [comments]

03-18 13:45 - 'chinese control over btc mining and 51% attacks' (self.Bitcoin) by /u/censoredbychina removed from /r/Bitcoin within 208-218min

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how can our bitcoins be safe if they (china gov) can just print money and use said printed money to take over bitcoin by having hash supremacy, to then throw it in the sewer with double spending?
no conspiracy shit i'm just sayin that the chinks can flip btc upside down in 24 hours or less
'''
chinese control over btc mining and 51% attacks
Go1dfish undelete link
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Author: censoredbychina
submitted by removalbot to removalbot [link] [comments]

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.
  1. How could it look like?
  2. 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...
submitted by Amichateur to Bitcoin [link] [comments]

10-08 00:23 - 'Bitcoin Cash is more decentralized that BTC! / [[link]] / It would only take 4 mining pools to do a 51% attack on Bitcoin BTC, where it would take at least 5 mining pools on Bitcoin Cash.' by /u/juliushenkin removed from /r/Bitcoin within 119-129min

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Bitcoin Cash is more decentralized that BTC!
[[link]2
It would only take 4 mining pools to do a 51% attack on Bitcoin BTC, where it would take at least 5 mining pools on Bitcoin Cash.
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Context Link
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Author: juliushenkin
1: cas*.coin.dance*b***ks/*od*y 2: cash.co*n*da*ce*blo*ks/*oda*]*^1
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Reddit User Seeks Mining Farm to 51% Attack Bitcoin SV

Reddit User Seeks Mining Farm to 51% Attack Bitcoin SV submitted by Ranzware to BitNewsLive [link] [comments]

As a protection against 51% attacks, Bitcoin Cash ABC will have a Trusted Central Authority that will publish a new official checkpoint, 10 blocks in the past, after every block is mined. Finally: a decentralized currency that you can trust.

As a protection against 51% attacks, Bitcoin Cash ABC will have a Trusted Central Authority that will publish a new official checkpoint, 10 blocks in the past, after every block is mined. Finally: a decentralized currency that you can trust. submitted by jstolfi to Buttcoin [link] [comments]

Reddit User Seeks Mining Farm to 51% Attack Bitcoin SV

Reddit User Seeks Mining Farm to 51% Attack Bitcoin SV submitted by remivee to tribetica [link] [comments]

Reddit User Seeks Mining Farm to 51% Attack Bitcoin SV

Reddit User Seeks Mining Farm to 51% Attack Bitcoin SV submitted by raaner12 to Altcoinss [link] [comments]

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack submitted by n4bb to CoinPath [link] [comments]

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack submitted by ulros to fbitcoin [link] [comments]

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack submitted by Ranzware to BitNewsLive [link] [comments]

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack submitted by cryptoallbot to cryptoall [link] [comments]

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack

‘Satoshi Nakamoto’ is Mining Over 40% of Bitcoin Cash, Sparking Fears of 51% Attack submitted by leftok to atbitcoin [link] [comments]

"Bitcoin Gold got 51% attacked. Miners have no issue with attacking BTG because if it dies, they could easily switch to mine another coin that also uses Equihash POW. This is not the case for Bitcoin/Litecoin" - Charlie Lee on Twitter

submitted by inthecrypto to litecoin [link] [comments]

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. /r/Bitcoin

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. /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Cash: China-based privately owned Single mining Pool Controls 50% of Hashrate making bitcoin cash susceptible to a 51% attack my personal opinion is bitcoin cash is doomed

submitted by Toms4128 to u/Toms4128 [link] [comments]

Bitcoin Mining Is Consolidating, Increasing Ease of 51% Attack: Bloomberg - CryptoGlobe

Bitcoin Mining Is Consolidating, Increasing Ease of 51% Attack: Bloomberg - CryptoGlobe submitted by ulros to fbitcoin [link] [comments]

Controversial opinion: How can bitcoin ever be decentralized if an 51% attack could be orchestrated by the top 3 mining pools?

Controversial opinion: How can bitcoin ever be decentralized if an 51% attack could be orchestrated by the top 3 mining pools? submitted by cryptoallbot1 to cryptoall [link] [comments]

In the last 24hrs, three mining pools have control of >50% of bitcoin's hash rate. Does that mean if the three owners colluded they could perform a 51% attack?

https://blockchain.info/pools?timespan=24hours
submitted by Hitchslappy to Bitcoin [link] [comments]

Do you REALLY understand Bitcoin 51% Attack? Programmer ... Verge Mining Under 51% Hashrate Attack What Is a 51% Attack? Explained for beginners - YouTube What is a 51% Attack in Cryptocurrency? Explained W/ Bitcoin & ZenCash Double Spend Hack GHash.io & Hypothetical 51% Attack on Bitcoin

The Github gist that explains the recent Bitcoin Gold 51% attack on Thursday and Friday. Last week on Thursday and Friday, BTG again dealt with a malicious mining entity as more than 51% of the ... Bitcoin Mining and the risk of 51% attack. If these four above-mentioned Pools close together, it would be run, theoretically, possible to do a 51% attack on Bitcoin. In the case of a 51% attack blocks can be verified, which should actually be verified: The attackers, which combine now the majority of the Hashrate on that might now need the ... Another scenario is an attack on a commercially successful currency for profit. However, in this case, the currency provides for commercial mining — its users use their power to generate the coveted coins. In a successful currency, this phenomenon is massive, the total generation capacity is huge. And, therefore, attack 51% becomes intractable. “Bitcoin gold, a relatively minor cryptocurrency that split off from the original bitcoin blockchain in late 2017, has suffered a so-called 51% attack resulting in over $72,000 worth of bitcoin gold tokens being double spent. A 51% attack can occur when malicious cryptocurrency miners take control of tokens' blockchain and is the second time ... 51% Attack. Rewriting the blockchain. A 51% Attack refers to the act of intentionally building a new longest chain of blocks to replace blocks in the blockchain.This allows you to replace transactions that have been mined in to the blockchain.. This kind of attack is easiest to perform when you have a majority of the mining power, which is why it’s referred to as a “Majority Attack” or a ...

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Do you REALLY understand Bitcoin 51% Attack? Programmer ...

A 51% attack is a potential attack on a blockchain network, where a single entity or organization is able to control the majority of the hash rate, potential... Watch live: https://ivanontech.com/live 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 ... 51% Attack Explained Bitcoin Gold and Verge Recent Hack (Crypto) - Duration: 7:02. Aimstone 3,551 views. 7:02. Roger Ver Caves On Bitcoin Cash Mining Fee (12.5%) - Duration: 21:56. 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...

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