Why is nobody ever talking about this graph?

are you srsly implying that just because it would be illegal they wouldn't do it?

and yeah ofc they want btc to moon, but won't there be a point in the future where

mining profits < manipulating blockchain and destroying bitcoins for one time profit ?

that's funny because I don't think you understand how blockchain works. it's relying on the fact that 51% of users have to be honest. if that's not the case we're fucked. if you don't have a clue what i am talking about you should really go inform yourself better.

Easy, the 49% left will continue another version of BTC and just ban connections from the 4 dishonest pools. There will be another money which is created by that 4 pools with the price of 0USD/1BTC

the money is still gone? not to mention the trust to blockchain and crypto currencies?

Yes and No. Because the trust's gone so the price will drop drastically. But money is the same because the database is immutable. Just load it on and continue to run at a specific time (before the 4 pools compromise the system).

Money here is bitcoin. Price is in fiat.

This is comparable to the shitfork that is Bitcoin Gold. You can't create money out of thin air. All the money that the attackers would cash out / steal would be priced in the new fork as well. And as mentioned before, the trust would be gone for the entire industry.

yes i know what you meant but

1 BTC before the attack != 1 BTC after attack
(compared to fiat)

The trust is gone temporarily, and when we know how to deal with this situation (because this is the first time this event occurs), the price will be higher than ever. The design of bitcoin is already count this situation in. Problem is that in the designed system, btc can be used directly instead of cashing out to USD. The 4 pools will keep a bunch of trash tokens for theirself when 49% revert the bitcoin database to a time before the compromise.

discord.gg/VReu36W pump group crypto!!!!!!

>basicaly be online saudi arabia
>just dril up all the fucking oil guiz, yeah!
it's a possibility that mal intent could fuck BTC one way or another. It's just not going to be the guys running the pools themselves.

also, miners seem like they tend to be ontop of things.

>plus something like that is either already illegal, or will be made illegal
Back rubbing is illegal... So what. So is hacking. People still do it

Idk but it would be feasible to just hack/phish those 4 pools' admins all the while having a short open on btc. Pools have been hacked before.

bump

desu after reading your comments i am even more worried that this could end btc or rather postpone it's moon by decades

no, pretty sure it ends BTC. Maybe exchanges would base things off of fiat and their own coins.

Your childlike optimism brings a tear to my eye

>cash out
You can't create BTC from a 51% attack.
>because that way they could basically steal billions worth of btc in a very short amount of time, with very low effort?
Read up on what a 51% attack actually is first.

I mean specifically what a 51% attack can do is prevent confirmations for transactions. They can also reverse transactions that were completed while they maintain 51% control. This is called double spending.

What OP is suggesting is that they would forgo the massive income mining brings them so they could double-spend temporarily before BTC price crashes.

en.bitcoin.it/wiki/Majority_attack

These big pools don't just make money from Bitcoin they make money from selling ASICs. They would be killing their own businesses for table scraps. Furthermore, these pools have massive amounts of hardware in all of their warehouses. It too would become worthless, all the R&D they spent on ASICs would be worthless.

OP I suggest you try to quantify how much money a 51% attack could even theoretically earn these miners before you spout out stupid shit like
>it's relying on the fact that 51% of users have to be honest. if that's not the case we're fucked. if you don't have a clue what i am talking about you should really go inform yourself better.

>The 4 pools will keep a bunch of trash tokens for theirself when 49% revert the bitcoin database to a time before the compromise.
It's not that simple, the only solution to such a problem is changing the hashing protocol to a different algorithm so all the BTC ASICs become worthless. However, such a thing would fuck over the 49% too. It would most certainly kill BTC. There is nothing stopping a unified 51% from targeting any other coin that uses the same hashing algorithm.

Cia or nsa could destroy bitcoin or ethereum pretty easy vis processing control

BTW if you want a nightmare scenario you shouldn't be wary of miner's greed. What you should be wary about is China nationalizing every single one of these big pools.

Preventing transactions isn't that worthwhile to those who want to make money, but to a State such a thing could be useful.