3 ms·
The cost and market cap estimates are probably both not good measures of how things would work out in practice on that scale, but even so- it looks like someone
by maxander 8y ago
The cost and market cap estimates are probably both not good measures of how things would work out in practice on that scale, but even so- it looks like someone with a couple million dollars to invest could plausibly extract several billion from BTC via a 51% attack. It would cost substantially more than the estimate on here (since even non-NiceHash cloud GPU services probably wouldn't fully cover the required hashpower), and require substantial technical expertise, and decently-connected people would probably see it coming at least days in advance due to the movements of GPUs and GPU-power involved, and be pretty definitely illegal, and BTC's market value would be crumbling underneath you as you tried to sell out... but, the sheer profitability of such a scheme should seriously worry people with a stake (finanical or emotional) in BTC. A dollar bill sitting on the sidewalk doesn't stay there long.
- xur17 8y agoI go into more detail in this [0] comment, but it would be substantially more expensive to pull off an attack if the hashing power was not available to rent from NiceHash. The 'nicehash-able' column is meant to represent how much hashing power is available - if it is > ~300%, an attack would be fairly do-able from just renting hash power. [0] https://news.ycombinator.com/item?id=17173265 https://news.ycombinator.com/item?id=17173265