• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
Bitcoin Cash 51% Attack Cost Is Ridiculously Cheap Right Now

Bitcoin Cash 51% Attack Cost Is Crazy Cheap Right Now

Christina Comben by Christina Comben
3 years ago
in Bitcoin Cash, Altcoin News, News, News teaser
0

According to a site called Crypto 51, the cost for staging a 51% attack on PoW coins is a lot lower than you think. In fact, right now, the cost per hour for wiping out Bitcoin Cash is just $9,130. That doesn’t include block rewards which “can reduce the attack cost by up to 80%.”


51% Attack on Bitcoin Cash Alarmingly Cheap

Crytpo 51 shows a list of PoW coins including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and more. The cost per hour for staging a 51% attack that could seriously damage the integrity of the Bitcoin Cash network is now outstandingly cheap. 

The cost to attack Bcash for 1 hour is now $7,517, down from $22,000 yesterday. pic.twitter.com/q8tmdkRSaq

— Lina Seiche (@LinaSeiche) April 9, 2020

Since posting this tweet, the cost for BCH has now risen to over $9k. But, still, alarming. Heading over to the website also highlights the massive risk to other PoW coins.

For example, the cost to 51% attack Dash is just $2,423 per hour and for smaller networks like LBRY just $36 an hour.

Crytpo 51 explains how it compiles its data:

Hash rates are from What to Mine, coin prices are from CoinMarketCap, and rental pricing is from NiceHash. The data has been spot checked for accuracy, but please let us know if any data is incorrect, and we’ll do our best to fix it.

They say that the purpose of the site is not to encourage 51% attacks but to highlight the risk and to:

get people talking about the problem and potential solutions.

The site also points out that most larger cryptocurrencies have sufficient mining capacity behind them, making it very expensive to acquire all the hardware to pull off such an attack.

So, what about Bitcoin? Well, the hourly cost is a lot lower than most of us would like at $555,948. If any wealthy individual or government with cash to spare wanted to dedicate a few hours to staging an attack on the network, it may not be out of reach.

The Drop in Hash Rate After Halvings

These hourly costs are certainly eye-opening, especially given that the Bitcoin Halving is coming up next month and we’ll see a drop in hashing power as some miners are temporarily forced out.

Looking at the horrific drop in BCH hashrate in just two days (down 73%), could this finally spell the end for Roger Ver’s version of Bitcoin?

And what about BSV… that looks extremely wobbly right now with a 51% attack cost of $9,945 and its halving completed today.

? $BCH hashrate falling through the roof. Down 73% in 2 days!!$BSV's turn now
https://t.co/wthNKqmMKe https://t.co/bfwc0VvLTt pic.twitter.com/JWFUDn4QWp

— Benjamin Celermajer (@CelermajerB) April 10, 2020

Let’s hope that the Halving for Bitcoin will be the bullish event we all hope it is and not follow the same path as these two Bitcoin forks.

Are you surprised about how cheap it is to 51% attack Bitcoin Cash right now? Add your thoughts below!


Images via Shutterstock, Twitter @CelermajerB @LinaSeiche

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Christina Comben

Christina Comben

Related Posts

Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

2 weeks ago
Internet Computer

Internet Computer (ICP) Is Now Top 5 In Dev Activity, What Does It Mean?

1 month ago
Avalanche

Avalanche To Unlock $168-Million AVAX Tokens In May; Inflationary Pressure To Rise

1 month ago
Ethereum Validators Regain Confidence Post-Shapella As Staking Volumes Increase

Ethereum Validators Regain Confidence Post-Shapella As Staking Volumes Increase

1 month ago
Gemini

Gemini To Launch Non-US Crypto Derivatives Platform

1 month ago
Injective

Injective (INJ) On A Bullish Trail As It Uncovers Apollo

2 months ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    3 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    3 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    4 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Sphere Financial Inc: Transforming the World of Finance...

    10 hours ago
  • As Whales’ accumulation of Ethereum (ETH) skyrockets...

    11 hours ago
  • Strategic Crypto Investments: 5 Coins to Watch in 2023

    11 hours ago
  • Ethereum (ETH) Holders Eye InQubeta (QUBE) Presale as...

    12 hours ago
  • Why InQubeta’s (QUBE) Innovative Technology Could...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.