It's quite amusing how people, especially staunch critics, often discuss #bitcoin's hashrate and the fear of a 51% brute force attack or centralization. Some act as if a 51% attack would be a doomsday scenario, but in reality, Bitcoin is designed to make such an attack unattractive and costly, as explained in the whitepaper and foreseen by its creator.
This is evident when you compare Bitcoin's hashrate to BCH and BSV, which use the same hashing algorithm. Despite the vast difference in hashrate, these attacks rarely happen. Small public Bitcoin miners could potentially launch such an attack on BCH or BSV, but they choose not to because the cost outweighs the reward.
This assumes that attackers are rational, which they mostly are. Even nation states could sustain an attack, but they have more practical ways to influence Bitcoin without competing in hashpower. This fear is just another form of FUD that can be easily debunked with transparent data.
It's fascinating to witness and participate in this new, immutable, and unregulated commodity market in real-time. What an exciting era to be a part of! 🔥🔥 Do you agree.
Drop a like and follow for more content 😁
