3 ms·
Vulnerable, not dead. BTW even a 51 pct attack doesn't "kill" a coin, it just tricks users temporarily into honoring a double-spend. Networks can and do recover
by zekevermillion 9y ago
Vulnerable, not dead. BTW even a 51 pct attack doesn't "kill" a coin, it just tricks users temporarily into honoring a double-spend. Networks can and do recover.
- AgentME 9y agoA 51% attack can kill people's confidence in a cryptocurrency, and finally wake traders up to the unsteady ground they're on. It's been a few years so I don't remember the specifics, but I remember seeing mentions of small cryptocurrencies that got 51% attacked, demand for it completely disappeared, most miners move off because it was no longer profitable, and no one at all kept mining because the difficulty value was left too high and had no time to adjust down to let individual miners mine easily. If Bitcoin or a top-10 cryptocurrency got 51% attacked, I'm sure the price would take a hit but people would find a way to limit the damage. I'm mainly talking about tiny pump-and-dump-tier cryptocurrencies whose creators don't even love them any more but that inexplicably still have some trading volume.