Bitcoin 51% Attack Coming?

𝐆𝐄𝐓 𝐓𝐇𝐄 𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐂𝐎𝐔𝐑𝐒𝐄➜➜➜
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In this video, I discuss 51% attacks by both profit-minded attackers as well as nation-state attackers and how they could be easily averted.

Bitcoin has never suffered a 51% attack in its entire history, unlike many alts like BSV and Ethereum Classic. That in itself should tell you something.

It would be fairly easy to route around an attacker, or even brick the attacker's machines by changing the proof of work algo from SHA-256 to something else.

Even double-spend attacks are extremely difficult to be done profitably, and empty block attacks are nothing more than a temporary nuisance.

Any group that attacks Bitcoin will end up looking foolish, and providing free publicity about Bitcoin's security and resilience.

If you have ASICs, it makes much more economic sense to just run them to secure the network and collect the Bitcoin rewards.

Government attackers of Bitcoin will find themselves mining on an unused chain, while Bitcoin economic activity will migrate to the shorter chain.

Bitcoin 51% attacks only affect the tip of the blockchain, and cannot be used to steal your Bitcoin.

Not investment advice! Consult a financial advisor.

Bitcoin Mining Pool In Trouble:

Bitcoin mining pool distribution:

Alts that have been 51% attacked:

Bitcoin miners can easily attack any other SHA-256 coin:

US gov quite bad at tech and IT:

US Bitcoin Mining Ban Coming Soon?

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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

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#bitcoin
#bitcoinmining
#crypto

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[Bitcoin_University]

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[funland]

Matthew, your education about the details of bitcoin is just outstanding. There is no one else producing these short form, subject specific videos with just enough detail for us to grasp the concepts without it being too long. I’m incredibly grateful to you.

[endir]

Walmart and Qardden token just signed a collaboration??

[mahmutkarabulut]

qardden token is awaiting major CEX listings. It's possible to hit 100x this year.

[psychedwellness]

I look forward to your videos everyday Matthew! I will hold no matter what. At this point I view it as a vote against the corrupt fiat system. I am ready for a change in this world, and I feel it coming. I'm not yet sure whether that change will be for better or worse... but I'm feeling ready for the fight!

[Jdwagner]

Good morning Matt. I sense a real test of conviction coming for bitcoiners. Thank you for keeping a place for us.

[frederickfrost]

Matthew, thank you for posting these videos debunking the security risks

[rcbarrettjr]

Thanks again for the great content, Matt! Possible to persuade you to switch back to the US Stock market for your next video? 12ish days ago you reaffirmed your thought that, despite some potential chop, the bottom was in (this somewhat based on an assessment of a Powell capitulation during the midterm cycle). I'm starting to see some fairly well respected economists predict the worst is very much yet to come (next quarter). Curious what your thoughts are at this point.

[globalnonsens]

Mathew you had a mention
in the bitcoin magazine live chat last night,
all good of course,
i made the suggestion that you would make for a brilliant guest on the show,
another excellent video again keep up the good work 👍

[jeffpacheco]

Thanks for that video. Helped explain the hash rate correlation to security well. You mentioned that a 51% attack was not what worried you about btc. What does?

[adamsawyer]

Great video as always. I appreciate the constant quality content and education. 1 question: You said " There are things I worry about Bitcoin, but not a 51% attack" What are some of the real things to worry about? Thanks in advance!

[PeeedaPan]

its amazing how Satoshi designed Bitcoin to be so resilient and how BIPs can improve it without needing to change the core Bitcoin code much at all

[chrispeed]

These videos are an education and I look forward to watching them when they come out. Thank you Matthew

[AKKSV]

Can you please include the topic on what impact would there be on BTC network due to Quantum computers?

[daniellegler]

Even if you were somehow able to secure the massive amount of ASICS needed to gain 51% of the networks hashrate.
You would still need to power them, no small feat. Basically you'd need to turn off the power to Utah, Colorado, Wyoming, and Montana. That's the amount of power you would need to draw to power that many ASICS. It's as close to impossible as possible, and you only get to do it once.

[sriousfce]

Matthew, thank you for your time and effort on this channel, I have completed my full circle through the world of crypto and landed back on my feet with Bitcoin only and I thank you for that. At the end of this video you mentioned "there are many things I worry about with Bitcoin but a 51% attack is not one of them". What is the biggest real threat you personally do worry about?

[douglastaylor]

Also most exchanges wait for at least 6 confirmations. So they would have to get all those confirmations in a row to double spend.

[lazerhawks]

These thought experiments are so awesome for new people entering the space with worries or questions. I'll be keeping this vid in my back pocket for just such an occasion.

[elusariosinnombre]

Thanks for sharing your knowledge with us!

[derek.seaborn]

You said there’s many things you worry about with bitcoin. You should make a video about those things.