If you didn't buy Bitcoin at $40,000...

[Castle2.0]

Originally Posted by Patriam1066 [You must be logged in to view images. Log in or Register.]

“ On a blockchain, there is a constant risk of a 51% attack which means It is a situation when a miner or group of them gets more than 50% of the networkÂ’s mining hash rate control. While in control, an ill-natured group can reverse the transaction that is completed, pause the transaction in process, double spend coins, prevent new transactions from getting validation and much more. Nevertheless, this attack is only a risk to recently hard-forked networks and new blockchains.”


What does this part mean?

It means the poster (likely Botten - only person blocked whose content I can't see) is an idiot.

A couple of things to note:

• Go calculate how much hardware, infrastructure and electric you need to 'attack' the network. Do basic financial math and realize you make way more playing by the rules.
• You need more than 51%. If you aren't consistently winning blocks, it fails. Any block you get behind, especially early on, makes it exponentially difficult to come back and have the longest chain. I think the true number is 70-80%+.
• If you do manage this infeasible attack. You can't spend other people's coins. You can't reverse the previous blocks unless you want to spend your time, energy, hardware doing that, but then you lost the longest chain and it's game over anyway and any 'reversals' mean nothing because you're not the longest chain any more.
• People realize there is a bad actor, ignore their chain and keep building on the main chain.

Looks like Botten got just enough rope to hang himself. Go get educated on crypto, fool.

Bitcoin halving in 107 days.

Buckle up.