this post was submitted on 02 Feb 2024
1866 points (96.5% liked)

Memes

45321 readers
1487 users here now

Rules:

  1. Be civil and nice.
  2. Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago
MODERATORS
gary_host_laptop@lemmy.ml
sexy_peach@feddit.de
cyclohexane@lemmy.ml
cypherpunks@lemmy.ml
1866
Blockchain: the wave of the future (lemmy.world)
submitted 8 months ago by themaninblack@lemmy.world to c/memes@lemmy.ml
343 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] Knock_Knock_Lemmy_In@lemmy.world 1 points 8 months ago (1 children)

Coin holders would only lose everything for as long as the attack occurred. The validated chain would still correctly record their claims.

The people receiving the fake coins transfered during the attack are the ones that will be pissed. Any goods or services exchanged during that attack period may not be compensated.

[–] Jknaraa@lemmy.ml 1 points 8 months ago (1 children)

Again, how many ordinary people will continue to run a node for a network where they have nothing for an extended period? Even if they do, will the value of the coins remain even after such an event proves the weakness of the system?

[–] Knock_Knock_Lemmy_In@lemmy.world 2 points 8 months ago* (last edited 8 months ago)

Empirically after a 51% attack, 75% of people stopped mining.

will the value of the coins remain

Eth classic is currently $25.