Is Bitcoin Vulnerable To 51% Attacks?

[Fixfin 2569]

A 51% attack is actually impossible on Bitcoin, but highly likely to happen in most altcoins that have very weak structure and low hash rates that can be attacked and as we have seen many times happened with ethereum classic and other coins in the past. But it can't happen to Bitcoin it is the most secure network in the world right now.

[Mella 3680]

I am thanks for the information and I am want to know more about this 51% attack my dear, I am wonder how it can happen to many atlcoin and what is the result of it, it is like an attack that stops the blockchain? It is steals coins from the wallets? I am think it is bad if this can happen bitcoin and I would like to know if what you are put in this post is true.

[annayks 2314]

Bitcoin is safe and what you read is science fiction. There is no crazy billionaire that wants to lose his money just to 51% attack Bitcoin. The cost is extreme to day and will be unrealistic as a few years pass and mining increases.

[its.cryptologic 163]

I think the BTC network is too huge to suffer 51% attack unless there is some sort of super computers working or every miner in the same pool under control by 1 entity. We have seen attacks on lower ranked coins, yes, bcoz the chain is easy to take over. GRIN just saw 51% attack, on mimble wimble chain... they are monitoring and blocking some payouts.

[Goyaa 2414]

In my opinion, bitcoin blockchain technology is more complex and less susceptible to being hacked by 51% attacks, unlike other altcoins that were hit by 51% attacks. If bitcoins could be hacked, I think bitcoins would be a prime target for hacking.

[Zalaks007 543]

I think other altcoins are vulnerable to 51% attacks but not bitcoin. Bitcoin was well designed to avoid all this hack and attack activities and that's why it's so unique. 

[Omar Ommeish 4872]

All cryptocurrencies can be subject to this type of attack, but I think it is unlikely that Bitcoin will be exposed to this attack because there are so many miners working on the Bitcoin blockchain.

[Moaz 7239]

Yes, this is absolutely true. Many cryptocurrencies have been subjected to many attacks of 51%, and this is dangerous and very bad. Hackers are always trying to devise new methods in order to achieve their goals, but I do not thinkthat Bitcoin will be vulnerable to such attacks at the present time at least. 

[Onden 2098]

Bitcoin is very difficult to hack, even though this system is very difficult to hack, that does not mean it is impossible. 51% of attacks were circumstances where the hacker had control of a large portion of the network hashrate or Bitcoin computing power. This allows the hacker to mine blocks faster than the total mining of the entire network combined. However, it is unlikely that this kind of attack will occur because they are expensive, and the result is mostly low hash coins.

[Mcd0d0 5882]

Well, it will not happen for bitcoin because it has a great security system and the structure of it is very perfect compare to the other coins, the given coins above is not popular from me and i think that's why it's prone to thus kind of attacks.

[Guru2050 8284]

On 10/30/2020 at 6:30 PM, Syedbesharat said:

But the problem is getting  attack more frequently is causing Crypto currency defamation. People trying their best to save their assets like me who always get more worried after attacks.

That aspect should always be given utmost concerned, unwavering attention for one to remain safe and highly secured. It's better to put all possible protection method ahead in order to save your assets against any cyber security disruptions. 

[BrolySSJ 7899]

First of all, this is a very interesting topic. I for one was unaware of what a 51% attack is, so this was informative for me and definitely did teach me something. Next, to answer your question, i think that it is possible for a 51% attack on bitcoin, yet unlikely. My personal opinion is that these attacks targeted the altcoins as they are smaller in value, compared to bitcoin and as such probably don't have as much security and usage as bitcoin. Bitcoin is widely used, and as such a 51% attack is much more risky and it will draw a lot more attention to the hackers globally in my opinion. 

[Cryptomint 433]

There are many cryptocurrencies are which face that attack. But like you I also think that with the Bitcoin it was the time. I don't think this will happen again.

[HumamAliDeeb 590]

The attack by 51% refers to cyber attacks that can be exposed to cryptocurrency networks, such as Bitcoin and Ethereum, it is worth noting that this type of attacks is hypothetical and has not happened yet, fortunately, but this sabotage attack can be carried out by a group of Miners who control more than 50% of the network's computing power, when that happens, this group of miners will be able to prevent new transactions from being confirmed by the computer and cancel transactions that have already been made! This allows them to "spend" their coins multiple times, which could corrupt the network of cryptocurrencies that operate using a PoW protocol such as Bitcoin. The problem is that sooner or later cryptocurrencies will be used everywhere and by everyone. This will deeply connect currencies such as Bitcoin, Ethereum, and Ripple in the local and global economy. In this context, a 51% attack can be extremely devastating.

[teebasas 3018]

No one will attempt a 51% assault on Bitcoin. Any attempt to carry out this attack would be unprofitable due to the massive amount of hardware and electricity required. The blockchain network is unquestionably one of the most stable networks available today.

[chris smith 950]

There will be more protection on the bitcoin and the other currencies because the interests are bigger and it should not that there is not be trust between the users and the sites.

[Maria karam 667]

My friend is very unlikely to have a 51% attack on Bitcoin. This is very difficult because countries and companies are racing to mine. Each country wants to mine more currencies and thus increase its mining equipment, and this competition is what makes it more difficult to control this currency.