Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees
by
Khaos77
on 25/05/2019, 06:27:23 UTC
As expected, Due to BCHs lack of hashrate miners are double spending and reorging on BCH blockchain. Here is when it occurred last time-

Its an interesting development but the markets don't seem to care... Price chart continues to look like a miniature version of BTC.

https://www.blockchain.com/en/pools

Same thing can happen to bitcoin,
it only takes 4 mining pool operators to collude and perform a 51% attack on BTC and no one cares about that either.  Tongue

Any coin the longer and more confirmations required the safer the transaction from reorg.  Smiley
 
FYI:
https://cointelegraph.com/news/two-miners-purportedly-execute-51-attack-on-bitcoin-cash-blockchain
Quote
“When the unknown miner tried to take the coins themselves, http://BTC.TOP  & http://BTC.COM saw & immediately decided to re-org & remove these [transactions] TXs, in favor of their own TXs, spending the same P2SH coins, + many others … So just 2 miners, in secret & w/ no trouble, took it upon themselves to remove 2 blocks w/ another’s TXs, & replace with their own.”

*Bitcoin Cash Recommends that people wait 6 confirmations before considering BCH transaction completed.
The above reorg was done in only 2 blocks,
therefore a doublespend was impossible unless someone was naive enough to accept.
before the required 6 confirmations.
Which is probably why no one is concerned about it, as any reorgs less than 6 blocks wont be usable as a double spend. *