2 ms·
What we are learning is that there are far easier ways to steal bitcoin than the so-called 51% attack. Miner collusion would be so expensive to pull off and the
by gtrubetskoy 9y ago
What we are learning is that there are far easier ways to steal bitcoin than the so-called 51% attack. Miner collusion would be so expensive to pull off and the amount of money you can steal this way is not that great - you still need the elliptic curve signatures to verify, so the only thing you can really do is "double spend" the bitcoin that you need to have in the first place.
- Shoothe 9y ago51% attack does not allow stealing other's coin but it allows forbidding you from using them (your transactions will not be mined). See [0]. [0]: https://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do https://bitcoin.stackexchange.com/questions/658/what-can-an-...
- eternalban 9y ago> steal bitcoin Denial of service. Should the +51% choose, they can simply ignore certain transactions and those will never end up on the chain. Our fiat private finance system does concentrate weatlh, but DOS attacks are only possible by subverting the legal regime.