3 ms·
I was actually shocked that it could be this low and thought it must be wrong. Other sources have suggested it would cost over $1B: https://u.today/guides/bloc
by ecwilson 7y ago
I was actually shocked that it could be this low and thought it must be wrong. Other sources have suggested it would cost over $1B:
https://u.today/guides/blockchain/bitcoin-51-attack-how-it-works-how-much-bitcoin-51-attack-costs https://u.today/guides/blockchain/bitcoin-51-attack-how-it-w...
> The hash rate is currently about six exahashes per seconds. Considering the most efficient ASIC miner with a hash rate of about 13,000 GHS (using the SHA-256 algorithm) being sold for about $2,100, an attacker will require about 500,000 hardware units and this will amount to about $1,005,000,000. When we factor in the cost of electricity and cooling daily, this figure rises to $1,006,000,000.
https://cryptoslate.com/analysis-bitcoin-costs-1-4-billion-to-51-attack-consumes-as-much-electricity-as-morocco/ https://cryptoslate.com/analysis-bitcoin-costs-1-4-billion-t...
> To successfully conduct a 51 percent attack on the Bitcoin network would cost an incredible $1.4 billion. This massive network supports over 5 million specialized ASIC mining computers, consuming a total of 29 Terawatt hours of electricity a year—as much as the entire country of Morocco. One of the underpinnings of the Bitcoin network is...
https://gobitcoin.io/tools/cost-51-attack/ https://gobitcoin.io/tools/cost-51-attack/
> $17,562,078,097, Hardware cost only, at cheapest rate. The attack would consume 241,478,573.839 kWh per day. (12,073,928.692$ per day)
- glofish 7y agoI agree, it feels way too cheap to be true.
- lftl 7y agoThe calculations you cite and what the linked page are fundamentally different. The numbers you're citing are roughly what it would cost to buy hardware that would continuously be capable of mounting a 51% attack. The linked site is estimating how much it would cost to rent existing capacity to mount an hour-long 51% attack.
- SkyMarshal 7y agoI think the site assumes you already have the hardware, and is just calculating the OpEx of the attack, not the CapEx. Like, if a major mining pool decided to 51% attack a coin.