Could a 51% attack happen on BTC like what just happened to BSV?!

in #bitcoin4 months ago

The short answer is no...

There has been some questions being asked how secure bitcoin really is due to the ongoing 51% attack on BSV.

That's where someone takes control of 51% of the chain and can reorganize blocks and pretty much make the whole network fail to do what it was designed to do.

It's the death of a blockchain.

I'm sure they will get some patch in place that will enable BSV to survive but it's likely only a matter of time until it happens again.

The reason this isn't a threat to bitcoin is due to its sheer size.

It's simply too expensive to get enough of the hash power to pull it off.

Check out BTC hash rate compared with BSV hash rate:

image.png

(Source: https://twitter.com/100trillionUSD/status/1423261502862237705/photo/1)

It's literally apples and oranges.

That little speck at the bottom of the chart is BSV compared to BTC.

The hash rate is more than 1000x larger than that of BSV making it 1000x more difficult for a 51% attack to occur. As the hash rate continues to climb it becomes even more difficult to attack thus making it less likely to happen.

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Good info, thanks for sharing

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