SUCCESSFUL 51% ATTACK INCOMING

[Anonymous No.12010610]

RED ALERT RED ALERT

[Anonymous No.12010820]

>>12010610
>no replies
fuck it's serious isn't it

[Anonymous No.12010830]

The mania is over

No one gives a shit about the vaporware that is crypto

[Anonymous No.12010847]

Fake Satoshi killed PoW. Buy all the PoS coins now

[Anonymous No.12010850]

Meh who cares. Coins get 51% attacked from time to time. Xvg has had it happen 3 or 4 times now and it is fine.

[Anonymous No.12010897]

>>12010820
it'll cut mining cost by 50%

[Anonymous No.12010901]

>>12010610
difficulty decreased by like 15% last reajustment, that might explain it.

[Anonymous No.12010909]

unironically dont know wehat this means iJUST WANT SOME FUCKING MONEY

[Anonymous No.12010918]

>>12010847
Pos is even more of a ponzi than pow u retarded fagboy

[Anonymous No.12010952]

>>12010830
>Anonymous (ID: J5H+Lj/+) 12/04/18(Tue)22:02:22 No.1201
thanks OP just moved my entire lifesavings into bitcoin, I'm going to have fuck you money in 5 years and all you'll be is a filthy no-coiner. Screencap this.

[Anonymous No.12010959]

It's at 39 eh right now. And the peak of 60eh is just variance, averaged out it's more like 55.
So there might be 16 eh lying around all over the world from inefficient miners.

[Anonymous No.12010993]

Do you have any idea how expensive Bitcoin is to 51% attack? It's still up 3x from the beginning of the year alone.

Do you have any idea how big that hash differential is to virtually any other PoW cryptocurrency out there even at a small dip from ATH's?

Do some research and you'll shit your pants when you realize just how much hashing power is allocated into Bitcoin compared to virtually every other PoW. The differential is so large it will make your head spin.

[Anonymous No.12011003]

>>12010610
Other coins have been actually 51% attacked and nothing really changed after, barely anyone even cared. BTC will be no different

[Anonymous No.12011025]

>>12011003
>my worthless shitcoin got 51% attacked
>hurr 51% attack on bitcoin is fine

[Anonymous No.12011039]

>>12010993
90% of the hashrate is done by one or two chinese companies. they can easily do a attack. lets say an outsiders wanted to do it, at current prices it would only take less than $200k to double spend bitcoin (most exchanges have only 2 confs), and even if they were not successful they would still get their mining earnings.

[Anonymous No.12011054]

>>12010610
Why would someone 51% attack a coin that is worth nothing?

[Anonymous No.12011056]

>>12010993
Hash rates in different pow can't be compared, as they measure different things. Btc can only be compared with bch and bsv hash rates

[Anonymous No.12011062]

>>12011054
>Why would someone 51% attack a coin that is worth nothing?
because you can still take out all the bids from $3800 to $0.

[Anonymous No.12011070]

>>12011039
Holy shit this comment shows exactly how little you actually know.

>90% hurrr
>one or two Chinese companies
>THEY CAN EASILY DO A 51% ATTACK
>lol $200k arbitrary number I pulled out of my ass hurr
>exchanges have 2 confs and DEFINITELY don't have any other forms of security
>hurrrrrrrrr

Are people on Biz really this fucking stupid? You aren't even saying anything of substance, you're literally talking out of your ass as if it is gospel. You literal and incompetent little fucking brainlet.

[Anonymous No.12011096]

>>12011070
block reward x btc price x 2 confs = $200k not hard to understand, maybe youre retarded though

[Anonymous No.12011129]

>>12011096
The two confirmations is a huge pile of horseshit. What exchanges do you know of that move large amounts of volume only use two confirmations?

Can you cite me some information about the cost of electricity rates and competitive hourly mining power? Can you do that for me you little fucking brainlet?

[Anonymous No.12011147]

>>12010610

Vertcoin has been getting repatedly fucked by a 51% attack for a week now.

Apparently, the developers are realizing that when this shit actually happens, it's not really possible to unfuck the damage.

[Anonymous No.12011160]

>>12010830
The hash rate could drop another 50% and it will just be back to what it was in January 2018 (around when the bear market began).

[Anonymous No.12011190]

>>12011129
almost all exchanges are 2 confirmations, heres one https://bittrex.com/api/v1.1/public/getcurrencies
doesnt matter what electricity rates are, no one is going to mine at a loss and you can just rent hashpower. with all the prices dropping and miners shutting down the chances of a double spend go up bigly. all that hardware sitting around that used to be putting out 10x the current hashrate now doing nothing, they can fire it up and double spend at any time.

[Anonymous No.12011215]

>>12010850
>XVG
>fine
hahahahhaha

[Anonymous No.12011222]

>>12011190
"Almost all exchanges"
>cites Bittrex
>hurrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

[Anonymous No.12011358]

>>12011222
yeah so on that exchange alone they can pull off a quick double spend and then withdraw all 2000+ btc in their public hot wallet or just buy up all the hundreds of millions in the other currencies and withdraw in less than 30 minutes. pretty sure binance or whatever exchange you think is good has 2 confirmations also, but who cares maybe its 3 so what they have to spend an extra $100k to double spend millions. dont forget if they fail they still get the block reward so their actual costs might be whatever extra it is to rent miners vs mining yourself.

[Anonymous No.12011388]

>>12011070

Thanks. This is an old biz post.

[Anonymous No.12011398]

>>12011358
You're making a lot of blanket statements without ever actually giving me any real evidence of this. Especially when you say dumb shit like "doesn't matter what electricity rates are."

Please don't talk about things you don't understand as if you're an expert. Those who know better can see through your bullshit.

[Anonymous No.12011480]

>>12011062
But everyone with a brain who realizes that fake internet money knows that its all worth nothing.

[Anonymous No.12011484]

>>12011398
ok heres your evidence
>Bitcoin Gold 51% Attacked, $18 Million Stolen Through Double Spends
you will be seeing another headline like this once bitmain decides to recoup their bitcoin cash losses.

[Anonymous No.12011500]

>>12011484
Oh shit. You can predict the future now, too? Is that supposed to be your argument now you little fucking brainlet?

[Anonymous No.12011544]

Someone fucking explain in detail in one reply if a 51 attack is fucking possible. There are people sending out signals and I need to know if they are larping niggers.

NOW
RIGHT THE FUCK NOW
EXPLAIN
GO
NOW
FUCK

[Anonymous No.12011561]

>>12011500
look at the hashrate you dumb weirdo. step away from the keyboard and seek therapy.

[Anonymous No.12011569]

>>12011544
>Someone fucking explain in detail in one reply if a 51 attack is fucking possible
Yes. It is possible because all you have to

[Anonymous No.12011577]

>>12011561
bch hashrate is 2% of bitcoins.
why the FUCK would they waste the time attacking bitcoin when they could fuck over bch for FAAAAAAAAAAAAAAAAAAARRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR less money?

[Anonymous No.12011580]

>>12011569
do is believe

[Anonymous No.12011585]

Can you gay guys stop arguing and whoever's bullshitting just admit it

[Anonymous No.12011596]

why can't we get a straight honest answer

[Anonymous No.12011634]

>>12011577

Because it’s CSW on his personal mission to destroy BTC and BCHABC so he can shill BTCSV as “the real Bitcoin” and pump his huge bags of it.

[Anonymous No.12011643]

>>12011147
yeah vertcoin is totally fucked
it was a decent idea but the developers can't come up with ASIC-resistance without being full time devs
it was too small of a project to compete with nicehash rental GPUs as well
vertcoin was my coin and community and I've made maybe 25btc from them during the bull but I'm 100% out now
ASIC-resisntance is a meme because even if you can do it by changing the algo every so often how do you know the dev team isn't compromised to change the algo into something they already developed FPGA or ASIC for
it's inherently centralized

[Anonymous No.12011645]

>>12011577
there is really nothing stopping them you just have to trust that they don't want to for some reason maybe because it will cause their bitcoin holdings value to go down due to bad press or something so that's why they don't. i have first hand experience that tons of the smaller shitcoins get double spent on exchanges all the time with large reorgs using nicehash.

[Anonymous No.12011648]

>>12011003

Bitcoin’s resistance to a 51% attack is literally the foundation that all crypto rests on, anon.

[Anonymous No.12011656]

>>12010610
51% attacks only happen against shitcoins that are barely worth a few cents.
If you have that much hashrate you can make more money just by mining bitcoin normally instead of wasting 6+ coins to reverse a transaction.

[Anonymous No.12011663]

>>12011484
bitcoin gold was probably raped by rental hashrate on GPU
bitmain would brick their entire business and bcash holdings
I don't think that would be cost effective

[Anonymous No.12011681]

>>12011544
An asteroid hitting Earth is possible, just not very likely.

[Anonymous No.12011682]

>sell your bitcoin
>get cash
>spend cash on a 51% attack
>get your bitcoin back
>have no cash and your bitcoin is worthless because you destroyed all trust in the chain
Sounds sensible to me.

[Anonymous No.12011698]

Great job, guys. Glad we cleared up absolutely nothing.

So basically: It's possible but unlikely?

[Anonymous No.12011710]

>>12011682
or better yet
>npcs vote to hardfork and invalidate your blocks AND addresses
>brittle slow bank system manages to confiscate/revoke your fiat

[Anonymous No.12011720]

>>12011698
yes it's possible but it's a cost sink and not profitable
bitmain chinking themselves was the best thing that could have happened to the bitcoin ecosystem

[Anonymous No.12011732]

also bitmain's IPO will force them to act of the behalf of investor
no investor would let a 51% be part of their business plan

[Anonymous No.12011745]

>>12011720
Okay. Thank you for the reply, fren. How big of a threat is CSW, Calvin, and Squire? Didn't they just buy up a lot of gear as well as enlist a consider number of disenfranchised Chinese miner teams?

[Anonymous No.12011750]

>>12011745
*considerable

[Anonymous No.12011776]

>>12011745
I don't think they're a threat at all
if their "hash war" miners weren't rentals they only have like 5-6% of what they need, and they're burning money attempting this

those idiots have been all talk and no substance

[Anonymous No.12011804]

you only need 2 exahash to 51% bcash
you need like 30 exahash to attempt it on bitcoin
I'd bet they have less that 5% of what's needed and their hash war pow was rented

[Anonymous No.12011813]

>>12011776
Please excuse the quick reply. I am stalking this thread.

Thanks for the reply again.

What is somewhat concerning is how Bitmain's IPO is pure chaos. They seem to be bleeding an unsafe amount of money. I think people are underestimating the effect a Bitmain collapse would have on the price of Bitcoin. It's not good.

[Anonymous No.12011837]

>>12011056

You can denominate computing power into USD cost and create a standardised average based on USD cost per minute, if you do that you'll see the financial cost to 51% attack BTC is orders of magnitude larger than the competition.

[Anonymous No.12011870]

>>12011813
it's no problem I like to think about this stuff all the time
I find bitmain's demise entertaining
they could have had a much bigger influence on bitcoin's future if they played their cards right but their collapse decentralizes who's holding those coins and who's running the miners

bitcoin's alright
this is good for bitcoin

bitmains failed chips, failed fork, failed IPO, allows those new mining companies to jump in and compete
remember bitmain was raping small alt coins like sia, they were withholding new hardware to keep profits, they bugged their own miners to mine for them before you manually switched to your own pool, the bugged them again with antbleed
they're not a good actor in the bitcoin space and this is a great thing and temporary price decline

[Anonymous No.12012547]

>>12010959
Canadian detected.

[Anonymous No.12013026]

>>12010952
This could work, if Bitcoin stay legal for 5 more years.

screencap this too faggot.

[Anonymous No.12013606]

Hashrates are falling across the board not just bitcoin. Ethereum is down 40%

Those are the low hanging fruit for 51%, the large alts. What’s the price of a 51% on ETH right now?

[Anonymous No.12013614]

>>12011070
a 51% attack on BTC wouldn't be about stealing exchanges money but about destroying Bitcoin.

[Anonymous No.12013615]

It would cost $276k for a 1 hour attack. Pretty damn cheap given you could steal tens of millions.

https://www.crypto51.app/

[Anonymous No.12013621]

For example a 1 hour 51% attack on ETC Ethereum classic costs $4000 right now on nicehash.

Easy money: short ETC on bitmex or a few different exchanges. Then spend $4200 at nicehash to 51% that mother.

Boom. Millions in profits

[Anonymous No.12013628]

>>12013615
And Ethereum is only 78k

ETH classic... 4.2k

[Anonymous No.12013631]

>>12013614
Maybe it'll be Jihan who wants some revenge if his business goes broke, maybe not.
It WILL happen one day.

[Anonymous No.12013745]

>>12011648
this. shitcoiners will never understand.

[Anonymous No.12013889]

>>12011039
>90% of the hashrate is done by one or two chinese companies. t
>pool owner =/= owning all the hash power in pool
This fud has already been debunked most of the has in bitmains pools are owned by individuals not companies. Bitmain cannot direct them to do anything.

[Anonymous No.12014115]

>>12013615
>>12013621
so why don't you do it then? it's literally free money for you, isn't it? fucking brainlets, there's more to a 51% than the technically required amount of haspower

[Anonymous No.12014155]

>>12013889
well the very definition of a pool nigga is that they do the job you task them to you slice up the work and distribute it they don't pick and choose they are like mindless slaves. i bet you never mined before.

[Anonymous No.12014181]

>>12014115
difference between knowing what it takes and having what it takes

[Anonymous No.12014241]

>>12011577
Btc isnt bitcoin you little genius you

[Anonymous No.12014258]

Look at Ethereum classic it’s about to be 51% attacked short it on bitmex with no stop

[Anonymous No.12015383]

>>12010610
hashrate dropping with price is not a bad thing. it would be worse if all the hash held on and capitulated at once leaving btc unable to adjust difficulty.

[Anonymous No.12016153]

>>12014241
kys

[Anonymous No.12016782]

REMINDER THEY'LL DECLARE CRYPTOS ILLEGAL ONCE IT FINISHES CRASHING

[Anonymous No.12016844]

>>12010850
anon, I....

[Anonymous No.12016848]

>>12011070

>gets blown out
>offers no rebuttal
>ad homs

[Chad No.12016850]

>>12016782
probably not since you can pay your taxes in bitcoin in the state of Ohio..

[Anonymous No.12016856]

>>12010610
You know what will be nice? When btc drops to 1k and btc miners start 51%ing coins out of spite. Both bcashes double spent to zero. I can't fucking wait.

[Anonymous No.12017008]

People need to read this shit. I cashed out and put my gains into gold a week ago but I wish I realized the fragility of this market sooner. Get out while you still can. Godspeed fellow /biz/raelis.

[Anonymous No.12017148]

>it's muh death spiral FUD once again
We are capitulating.

[Anonymous No.12017173]

>>12011070
you are bitting the bait from 2017 fags and the usual boomers

[Anonymous No.12017187]

>>12010847
>>Fake Satoshi killed PoW.

>SV is PoW

[Anonymous No.12017209]

>>12010918
/biz/ finally admits crypto is a Ponzi!

[Anonymous No.12017217]

>>12014115
Because I don't want to steal money from people? I never claimed it was easy, but it is certainly doable for someone who is determined.

[Anonymous No.12017226]

>>12011682
You're missing
>Use 51% attack to give yourself more Bitcoin

[Anonymous No.12017275]

ONE!
NOTHING WRONG WITH ME!

[Anonymous No.12017314]

>>12011544
It's not. We've had "spiral death is coming" on every capitulation after every big crash. Lurk more you fucking 2017fags.

[Anonymous No.12017343]

>>12017148
Fucking this!!!

[Anonymous No.12017358]

>>12017314
We are starting to see the bottom unironically

[Anonymous No.12017536]

>>12017358
This is exactly how /biz/ looked like during the bottom.

We will still have people being bullish buying the bottom, and we will have people calling lower prices.

>"Fair price is $20 a coin, dude, and the technicals are shit".

imagine