Post
Topic
Board Bitcoin Discussion
Re: 51% attacks
by
Welsh
on 12/06/2018, 21:48:17 UTC
so attacker can steal other currencies and then buy with them bitcoins...
That's not how majority attacks work. You can't steal coins by having the majority of the hashing power on a network. You could double spend, and prevent certain transactions from confirming. The obvious answer to this is it's incredibly difficult to keep such an operation ongoing, and online 24/7. Plus, at the end of the day is it really work the expense to prevent certain things from happening?

The only reason I see people attempting majority attacks on a particular coin would be if they were competitors, and they strategically attacked it at the right moment to cause doubt within it's followers. Otherwise, I don't think it's beneficial to anyone.

Having just 51% isn't really a enough either. It would be much more effective the higher percentage of hashing power you have.