5 ms·
> which costs 400 [not 400 thousand] [dollars] per hour No, it's $400,000 per hour. 0.009 BTC/PH/day to buy from NiceHash (https://www.nicehash.com/algorithm/
by qes 6y ago
> which costs 400 [not 400 thousand] [dollars] per hour
No, it's $400,000 per hour.
0.009 BTC/PH/day to buy from NiceHash (https://www.nicehash.com/algorithm/sha256 https://www.nicehash.com/algorithm/sha256)
100,000 PH/day total hashrate of BTC network (https://www.blockchain.com/charts/hash-rate https://www.blockchain.com/charts/hash-rate)
That's 450 BTC/day to buy 50% of the hash rate (as if you even could, that in itself is a ridiculous notion - NiceHash says they have only 300 PH).
Or 18.75 BTC/hour. Or $185,000/hour.
Of course, you're not going to buy 50% of the network's currently running hash power. You'd likely need closer to 100% of the network's current hash power to gain 51%. So, $400,000/hr.
I mean really, does it pass any sort of common sense test that you could 51% the bitcoin network for $400 per hour?
- a1369209993 6y ago> The hash rate could be 1/1000 of what it is today > If you cut the hash rate that much the cost would be only $400 or so. > during an attack which costs 400k per hour > under your proposal [of reducing the hash rate by a factor of 1000] Perhaps I should have been more explicit, but it certainly isn't necessary. > So, $400,000/hr. Which, if the hash rate was "1/1000 of what it is today", would be reduced to 400$/hr.