Bitcoin

Out of context: Reply #1297

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  • detritus0

    Proof of Work 51% Attack Cost
    "A collection of coins and the theoretical cost of a 51% attack on each network."

    https://www.crypto51.app/

    Can someone explain this to me? I thought a 51% attack somehow meant every historical coin in existence, but from this I get the impression that all you need to poison or grab control of a cryptocurrency is 51% of the current block generation?

    I suppose it makes sense within the philosophy of blockchain that its substance is most derived by its current iteration, but does that mean that a 51% attack on the Now fucks and nullifies the truth of all stored coins, offline or wherever?

    Or am I fundamentally missing something here?

    detritus 0Permalink
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    • The comments here: https://news.ycombin… are fascinating.detritus
    • tl;dr - the existant processing capability of large mines aimed at BC or ETH, etc could be switched to take control of smaller or younger coinsdetritus
    • therefore nullifying the emergence of newer coins, moating the bigger more established coins into a small polyopoly.detritus
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