On the growing risk of the 51% attack against BCash
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Re: On the growing risk of the 51% attack against BCash
#2tl;dr: younger coins have fewer miners, so they are more susceptible to 51% attack. In particular BCash has same hash function as BTC, so those BTC miners could easily switch into mining BCash, and so is even more at risk.
Re: On the growing risk of the 51% attack against BCash
#3The was a long winded explanation of a 51% attack lol.
Was the author just talking about hashrate switching? Any solutions for exchanges or merchants such as just increasing the confirmations required?
Any interest in bitcoin cash changing it's algorithm?
Re: On the growing risk of the 51% attack against BCash
#4BCash is a scam to convert as much of their scam coin as possible to Bitcoin over time.
Re: On the growing risk of the 51% attack against BCash
#5> But I’ll try to explain everything technically and stay objective
You failed inside of 3 paragraphs.
Re: On the growing risk of the 51% attack against BCash
#6OK, this is describing a 51% attack.
And who would engage in this 51% attack? The miners?
The miners are one of the biggest groups that SUPPORT Bitcoin Cash, so I find it unlikely that they would spend millions attacking it.
Anyway. It matters not. The people that want Bitcoin to be a settlement layer are free to spend 50$ per transaction to use Bitcoin, and those of us who want to use it as an actual peer to peer electronic currency will use Bitcoin Cash.
Everyone wins. It doesn't really matter what is the "real" Bitcoin.
Re: On the growing risk of the 51% attack against BCash
#7BCash is a scam to convert as much of their scam coin as possible to Bitcoin over time.
[citation needed]
Re: On the growing risk of the 51% attack against BCash
#8Is it possible it's already happened? I have no idea what the mining breakdown looks like - but I'd imagine it's only a couple players mining BCH. I'd think you could rewrite the chain at will pretty much.
Re: On the growing risk of the 51% attack against BCash
#9OK, this is describing a 51% attack. And who would engage in this 51% attack? The miners? The miners are one of the biggest groups that SUPPORT Bitcoin Cash, so I find it unlikely that they would spend millions attacking it. Anyway. It matters not. The people that want Bitcoin to be a settlement layer are free to spend 50$ per transaction to use Bitcoin, and those of us who want to use it as an actual peer to peer el…
Anyone who's mining Bitcoin could switch to Bitcoin Cash and work to perform a 51% attack.
> BCash shares hashing algorithm with Bitcoin. That means any hashing power on the Bitcoin network can work on BCash network. And there is typically 10 times more miners mining on BTC, than on BCH because of the difference in the price and minning fees.
Re: On the growing risk of the 51% attack against BCash
#10Not happening. ANT Pool has a huge investment in Bitcoin Cash and would swoop in with mining power to protect their investment.