Bitcoin is bulletproof against a 51% attack - Blockchain expert

[Hanno Labuschagne]

Bitcoin is bulletproof against a 51% attack - Blockchain expert

Blockchain expert Simon Dingle has refuted an analysis by TokenAnalyst which found that Bitcoin's hash rate was highly centralised, leaving the cryptocurrency vulnerable to a 51% attack.

The analysis found that Bitcoin's infrastructure is more centralised than it has ever been, with five companies controlling 49.9% of the blockchain's total mining power.

This raised concerns about whether the Bitcoin blockchain could be vulnerable to manipulation by these mining companies, or even a 51% attack.

 

[Pythonista]

The Titanic is unsinkable : expert

 

[PhireSide]

The ANC has the people's interests at heart - expert

 

[Herr der Verboten]

The Titanic is unsinkable : expert

Drama headlines : mybb

 

[Heisenborg]

Nobody cares - expert

 

[Herr der Verboten]

It raining - expert

 

[Fulcrum29]

Who is Simon Dingle?

 

[backstreetboy]

You don't say? They make more money mining. No need to muck about with this.

 

[leon.davibe]

.the so called experts clearly aren't experts

of the 21m
18.2m has already been paid out as block rewards
BTC left as subsidy at each halving

2020. 2 625 000 BTC
2024. 1 312 500 BTC
2028. 656 250 BTC
2032. 328 125 BTC
2040. 164 062 BTC
2044. 82 031 BTC
2048. 41 015 BTC
2052. 20 507 btc

clearly they don't get halvings
The tail gets extremely thin

But clearly this ain't a 22?? Problem

Yes with ample incentive from block reward
The chances of 51% is unlikely, at the moment

BTC isn't healthy

The risk comes when miners finally see their mining reign coming to an end

with only a small block to pay fees and insignificant block reward

That's when popcorn will be needed

Small block has no future plans

Everybody calls big block BSV a scam
Yet it is working to build capacity and adoption

Clearly these dinosaurs need to sell their bags still

All crypto evangelists are tainted by their bags

Every single one, me too

Make up your own mind
You have to live with the consequences of your decisions in the end

 

[leon.davibe]

Who is Simon Dingle?

I believe he was involved with the creation of luno (apply salt as needed ,not 100% certain)

He has moved on though

And happily shills his BTC bags and claim all else is a scam

 

[leon.davibe]

BTC fans: create new ways to generate fees to pay miners

Also BTC fans: constant onslaught of your transactions aren't welcome in our tiny block

New builders need capacity and stable ground , BTC ain't it

Look to another fork is my advice

 

[Sl8er]

Who is Simon Dingle?

Expert.