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If somebody holds 51% of the capital in bitcoin (In form of 51% of the mining hardware), he can mount a 51% attack as well.
by konschubert 9y ago
If somebody holds 51% of the capital in bitcoin (In form of 51% of the mining hardware), he can mount a 51% attack as well.
- papermule 9y agoWouldn’t it be much less than 51% in practice since a lot of Bitcoin is in hardware or non-custodial wallets?
- amadeuspzs 9y agoNo, 51% refers to the active mining pool (who package and validate transactions) vs 51% of the currency itself.
- dukeflukem 9y agoHe certainly could, but that'd be stupid right?
- SturgeonsLaw 9y agoDepends on their intent. It would be silly for an actor who wishes to maintain the value of their holdings, but if their goal was to destabilise the currency, it provides an attack vector.
- exclusiv 9y agoExactly. Like anyone with a ton more at stake if it succeeds like the banking system.