Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Is BTC really safe from being hijacked?
by
Upgrade00
on 04/06/2022, 19:19:29 UTC
⭐ Merited by Pmalek (1)
Nothing makes me happier than dangling it in my friends faces who have been screaming "SELL THAT SHIT WHILE YOU CAN" for 9 years. Now that it might actually threaten the USD, I'm gonna ask what I hope is a stupid question. 
It feels good to be proved right, but showcasing your wealth publicly, even to close friends may not be a good idea. Your financial worth should be private as much as is possible.


Thanks for the insight!  In regards to your second comment.  Could you elaborate a bit more about what you mean by "would take HOURS at most for us to put everything back in place after which all their resources and effort become worthless and useless."? Are you saying that enough people would see the fuckery taking place and produce an alternate means of securing the network?  Could you elaborate a little more?  And also for the record, explain it like I can barely use an iPhone.  
The system operates on consensus, everyone has to accept any change to the system for it to be effective. After a 51% attack, other nodes and miners can identify the malicious player and choose to orphan blocks created during the attack and reject at protocol change.