Is a 51% attack possible on the bitcoin network?

[BrolySSJ]

I do not think so. I'm not saying bitcoin network is impregnable, don't get me wrong but the network of bitcoin and other Cryptocurrency is very strong that it can't be easily or even possibly attacked let alone of losing 51% of its content to hackers.

I don't think there is any such thing as a network that is completely impregnable. In my opinion as long as something is considered to be online or using a technological basis then I think that there is a way that you can access it or that hackers can take advantage of it. This is why it is necessary to constantly be updating the network, ensuring that the best security measures are being implemented as viruses and hacking techniques change on a daily basis.

 

[Dorcey]

51% attacks on Bitcoin blockchain are rare because an attacker would need computing power or hashing power superseding that of millions of miners all over the world. ... Bitcoin blockchain has never suffered a 51% attack in part because it boasts of an active hashing power which is hard to compromise

 

[Jomarie05]

Bitcoin mining process due to the algorithms of its mining and it decentralization of its blockchain. I think that there is a way that you can access it or that hackers can take advantage of it. This is why it is necessary to constantly be updating the network, ensuring that the best security measures.

 

[ossai]

51% attacks on Bitcoin blockchain are rare because an attacker would need computing power or hashing power superseding that of millions of miners all over the world. ... Bitcoin blockchain has never suffered a 51% attack in part because it boasts of an active hashing power which is hard to compromise.

 

[Ehizzy1]

Yeah such attack might not happen i think the bitcoin security system is very strong for such thing to happen and even if its about to happen there is,already a backup to quickly stop any kind of bitcoin attack that might want to happen , so i think its actually impossible for such attack to happen based on the security measure been put in place

 

[Dowenship]

With coins and network experiencing the 51% attack there are some concerns surrounding the fact that this could also happen to bitcoin in the future. Rest assured, it is said that this is theoretically not possible to happen to bitcoin, which is a good assurance. Apparently if one looks at the bitcoin network there is not enough mining capacity to spare that will allow for such an attack.

So in that case it seems that bitcoin remains safe from this attack. However, whilst analysts say that this is theoretically not possible, the fact remains that sometimes attacks defy theory. Do you think that it is a stretch to label this as impossible?

I don't think a 51% attack can happen, my perspective though because if such thing happens then there's probability the network in general is coming down. analysts saying is theoretically not possible might be right and wrong.

 

[Akinwale701]

With coins and network experiencing the 51% attack there are some concerns surrounding the fact that this could also happen to bitcoin in the future. Rest assured, it is said that this is theoretically not possible to happen to bitcoin, which is a good assurance. Apparently if one looks at the bitcoin network there is not enough mining capacity to spare that will allow for such an attack.

So in that case it seems that bitcoin remains safe from this attack. However, whilst analysts say that this is theoretically not possible, the fact remains that sometimes attacks defy theory. Do you think that it is a stretch to label this as impossible?

My friend, nothing is impossible on the internet, in fact, more than 51% attack on the bitcoin network is possible. It depends on one's level of understanding.

 

[Dowenship]

With coins and network experiencing the 51% attack there are some concerns surrounding the fact that this could also happen to bitcoin in the future. Rest assured, it is said that this is theoretically not possible to happen to bitcoin, which is a good assurance. Apparently if one looks at the bitcoin network there is not enough mining capacity to spare that will allow for such an attack.

So in that case it seems that bitcoin remains safe from this attack. However, whilst analysts say that this is theoretically not possible, the fact remains that sometimes attacks defy theory. Do you think that it is a stretch to label this as impossible?

Analyst telling is that attack is theoretically not possible are spiraling out of the limit of there knowledge... Bitcoin Or i call it blocks are created by somebody definitely someone will hack the system...

 

[Victor001]

This is probably above average, if bitcoin wanted to be hacked,they would have start by practicing on low end coins,but the algorithm surrounding Bitcoin is not known.

 

[Ayokex]

I don't think this is possible with the way Bitcoin is widely accepted for different transactions all over the world. Instead of it coming down rather it's increasing in value almost everyday.

Post automatically merged: Jun 17, 2021

With coins and network experiencing the 51% attack there are some concerns surrounding the fact that this could also happen to bitcoin in the future. Rest assured, it is said that this is theoretically not possible to happen to bitcoin, which is a good assurance. Apparently if one looks at the bitcoin network there is not enough mining capacity to spare that will allow for such an attack.

So in that case it seems that bitcoin remains safe from this attack. However, whilst analysts say that this is theoretically not possible, the fact remains that sometimes attacks defy theory. Do you think that it is a stretch to label this as impossible?

It is very possible in fact it has already happened recently when Bitcoin was down beyond 35%. Though this might not possible because of the limited mining pool but the attack may come from another angle like such that happened as a global conspiracy.

 

[eenya00]

i do not think that level of attack can happen, because it is too large and almost every one would be affected negatively by it as it would spell doom in the crypto world, but anything is still possible.

 

[Planbizzle]

With coins and network experiencing the 51% attack there are some concerns surrounding the fact that this could also happen to bitcoin in the future. Rest assured, it is said that this is theoretically not possible to happen to bitcoin, which is a good assurance. Apparently if one looks at the bitcoin network there is not enough mining capacity to spare that will allow for such an attack.

So in that case it seems that bitcoin remains safe from this attack. However, whilst analysts say that this is theoretically not possible, the fact remains that sometimes attacks defy theory. Do you think that it is a stretch to label this as impossible?

Indeed, the Bitcoin network is susceptible to a 51% attack. When one miner or a group of miners control upwards of half of the network's hash rate, they can influence the network and double-spend coins.

 

[Nomad]

I don't know the exact answer, however, I assume that is is very possible to attach bitrain. It is a decentralized platform with open source code, anyone can have access and try to change codes and destroy it or manipulate to the benefits.