Yes, a 51% attack on Bitcoin is possible. The probability may be low at the moment, but the possibility cannot be denied. With claims that Bitcoin is ‘mainstream’ and retail investors being lured to invest in this ‘scarce’, ‘secure’, ‘new gold’, the time has come to consider the likelihood and possible market reactions in the event of a 51% attack on the most popular cryptocurrency.
When this happens, the amount of computing power required for a 51% attack is reduced as well. The hash rate dropped nearly 50% following China’s mining crackdown in 2021. The possibility of an attack further increases when the market cap of Bitcoin increases, which increases the monetary incentive of a 51% attack – leveraged short combination.
Who in their right mind actually believes this shit? These are the same people that complain Bitcoin uses more energy than Argentina, so surely you'll need half the energy of Argentina to 51% attack the network? Imagine trying to gather that much power for reversing 1 block.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Property stocks set for another good year as economy improves furtherThe listed property sector has performed well over the past 10 years despite notable market shocks
Source: BDliveSA - 🏆 12. / 63 Read more »