Post
Topic
Board Bitcoin Discussion
Re: Ethereum could afford a 51% attack on Bitcoin, and profit greatly from it
by
franky1
on 04/08/2024, 18:04:49 UTC
ok lets tell you what mitigates 51% attack

a 51% attack just means that 51% of the network is malicious and plans to edit blockdata either in the past or ongoing

so lets deal with the details AGAIN
to be at 51% of the network does not mean 100% control it means equalish opportunity with a slight lead to make blocks. this means that the other pools can still have luck to produce blocks faster

the chances of a malicious pools to make for instance 6 blocks in a row before the honest network makes a block to re-org back to blocklist of honest blocks is marginally small. thus for years now many people have had the strategy that for high sat amount transactions being at risk of being re-round and unconfirmed is for services and recipients to wait 6 confirms, as the 51% is more likely to make one or 2 blocks before the honest network gets its block

its like a 100m olympic race
if there are just 2 runners. one that on average runs at 10sec and the other at 9.98 seconds. its not a guarantee that the slightly faster runner will always win every race.
its also not a guarantee that if its a relay race of passing the batton of 2 competing teams that if one team went back 100m and started again the team would be able to go back 1-6 lengths of 100m and then catch up to overtake the honest running team that always went forward

just imagine it in your head for one second. a relay team where one member drops the batton, has to turn around and go grab it and start running again the team needs to be way more then a 0.02sec advantage per 100m to catch up if they wasted 10seconds picking the batton back up whilst the honest team jsut moved forward with that advantage


in most cases if dis-honest racers were running for 50 lengths on a different asphalt ring(edited chain) and none of their blocks are yet to be seen by the olympic officials (network) even malicious miners with their livelyhood at risk will want to just race on the asphalt WITH the honest runners

aswell as the wait X confirms if receiving high amount transactions,  there is also the fact that the network wont let any mining pool spend the block reward for 100 confirms. meaning an attacker would need to sustain their block list for 101 blocks to be able to spend their first block win. that means having 100 blocks of their preference be the 'mainchain'

now its for you to actually not dismiss the math and mitigations of bitcoin risk. and actually run real scenarios of how bitcoin actually works rather then side step things just to promote your bias for ethereum
and not dont be silly and decide to rather talk about "milk is consumable" to avoid the point that production cost is different than retail cost
you went too literal about the word milks to talk about it a consumable rather then realise i was talking about any product has a real production cost and a separate retail price