Not defending the Monero bros shitcoin, but it’s important to recognise that the same thing is possible to happen to Bitcoin *today* as well. Most Bitcoiners simply don’t realise 51% attack is possible even without 51% of the hashrate. Foundry can do it. AntPool can do it. They just haven’t decided to go that route.
Login to reply
Replies (2)
On one hand they have different incentives not to do it.
On the other hand is too expensive
And third its what Andreas said 10 years ago ... so not that easy with Bitcoin.
In addition, Andreas said the following 10 years ago
Andreas Antonopoulos - 51% Bitcoin Attack
View quoted note →
A few thoughts on this in no particular order:
- pools don’t directly own/control their hardware and hash rate, so it would require prolonged collusion among their participating miners
- the cost would be prohibitively astronomical even if they somehow convinced their miners to participate
- the incentives just don’t line up at all
- it’s good/necessary to practice adversarial thinking, while also important to be mindful of reality when doing so