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That statement is a bit misleading. The damage an attacker can do through a 51% attack is much more limited than that. It allows an attacker to censor transacti
by olalonde 1y ago
That statement is a bit misleading. The damage an attacker can do through a 51% attack is much more limited than that. It allows an attacker to censor transactions or perform double spends, but it does not allow them to "redefine Bitcoin" (e.g. change consensus rules, arbitrarily reassign coins, etc.).
- MichaelZuo 1y agoWhy can’t such a bloc for example rename Bitcoin to Buttcoin?
- olalonde 1y agoAnyone can do that, it doesn't require 51% of the hash power. And it's already been done hundreds, if not thousands, of times (the more technical term for them is "shitcoin").