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RE: Proof of Work coins like Bytecoin can now be 51% attacked for just $500? Bitcoin private for only $700? New Website shows which POW coins can be 51% attacked for cheap! DPOS is the future!
yeah but can't there be consensus whereas the original chain takes precedence?
MAYBE that can be implemented but that is NOT how blockchains work, that would be a centralized system maybe like Ripple but in a decentralkized system it must be open to any POW miner
and basically sure but noine of these current coins use that system and would need some crazy hardfork with imaginary code
see this is why steem and DPOS and EOS is the only way to guarantee a safe decentralized cryptocurrency blockchain future
See he problem is, "Longest Chain Wins"
well I dont know about all those coins but I remember there was an exploit where someone was able to mine billions of bitcoin...took a few hours but the blockchain was reverted...so it is not impossible as long as you can reach consensus
yeah that one presentation was it EOS or Bitcoin cash satoshis vision conference? yeah they explained that amazing point when 1 billion BTC was mined LOL happened a few times luckily the people who did it were good people who didnt run with it. Imagine sacrificing the whole blockchain and billions invalue for just a few million or so lol
If you google "bitcoin history" and click on the Wikipedia page and scroll down a bit you will see this
On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or blockchain, which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.[26][27] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.[28] This was the only major security flaw found and exploited in bitcoin's history.[26][27]
they did run with it, they exploited the vulnerability but satoshi and the community got together and stopped it by forking hours later