Post
Topic
Board Bitcoin Discussion
Merits 37 from 5 users
Re: [Quiz] Answer the Bitcoin question and earn merits! #1
by
_act_
on 16/03/2024, 21:14:32 UTC
⭐ Merited by BlackHatCoiner (25) ,vapourminer (5) ,LoyceV (4) ,hosseinimr93 (2) ,Zaguru12 (1)
Question: The dominant mining pool, at the time of writing this, turns evil and uses its hash-power to reorg the chain. A customer of yours sends you a transaction. If you wait for 10 confirmations, what is the chance that the dominant mining pool successfully double-spends / reverses your transaction?

Cut-off date: 23/03/2024.
Foundry USA has 30.74% of the bitcoin total global hashrate. If he waits for 10 confirmations, he will have the risk of chain reorg reduced to 5.11%.