Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Bitcoin Gold : Make Bitcoin Decentralized Again
by
btgjoseph
on 17/12/2018, 00:20:06 UTC
I've read that Bitcoin Gold is quite easy and cheap to attack with a 51% attack. Any plans to secure the coin somehow?
Hello, good question. Here is my response to a really bad article about BTG that was released recently: https://old.reddit.com/r/CryptoCurrency/comments/a58eqx/bitcoin_gold_a_shitcoin_vulnerable_to_attack/ebkxg9v/?sort=top (in case this is the one what you read)

There was also another terrible article that is just paraphrasing the article that I replied to on reddit: https://www.investinblockchain.com/bitcoin-gold-vulnerable-to-attack/

Both articles are full of lies. http://crypto51.app shows that currently only 4% of BTG's nethash is rent able via Nicehash, that makes it impossible to attack us 'easily'. We forked July 3 to renew ASIC-resistance and to help secure us from being 51% attacked https://bitcoingold.org/a-successful-network-upgrade/ . It was completely successful

We are also the top zhash coin by far, making us an unlikely target. https://cdn.discordapp.com/attachments/455489483253612547/524015903529238565/unknown.png

Another thing that it appears people misunderstand is just how much mining support we actually have. Consider that 1 1080ti  video card produces around 75sols and a 1060 around 33, this can put into perspective just how many GPUs it would take to have 1.5msols (1,500,000sols), that is the amount required to have 51% of our nethash today, while the entire market is very low. Now imagine how much it would cost for the hashrate required once the market recovers and our nethash goes back to 4.5msols and higher.

It is not impossible to attack BTG, but it is also not easy or cheap. Hope this explains everything. Cheers!