[2018-10-10]Mischief-Maker Promises to Livestream a 51% Altcoin Attack

[Vladdirescu87]

The unknown attacker has promised to gain majority hashrate control of an altcoin to show how smooth the process is. They have given decent warning of the attack but promised to live stream the whole event on October 13, 2018, 3:00 CDT.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/mischief-maker-promises-to-livestream-51-altcoin-attack/

[vit05]

His post on Reddit

His post on hackerNews

Livestream Oct 13, 3:00 CDT, 4:00 EDT 1:00 PST

cost of a 51% attack

I believe that for educational purpose, it is very important. Of course, there are risks and many people can be harmed. But the central idea of cryptocurrencies is that they are projects that are difficult to attack. The devs need to know how to act when something like this happens and can work to make it difficult to happen.
Unfortunately, we had several projects that are just forks of the BTC that had a purpose to enrich their developers. And over time they have turned into weak projects.

[veleten]

His post on Reddit

His post on hackerNews

Livestream Oct 13, 3:00 CDT, 4:00 EDT 1:00 PST

cost of a 51% attack

I believe that for educational purpose, it is very important. Of course, there are risks and many people can be harmed. But the central idea of cryptocurrencies is that they are projects that are difficult to attack. The devs need to know how to act when something like this happens and can work to make it difficult to happen.
Unfortunately, we had several projects that are just forks of the BTC that had a purpose to enrich their developers. And over time they have turned into weak projects.

might watch
it is interesting to see why Einsteinium coin will be attacked and what is the expected profit for him in this
he claims that he will be streaming and explaining "some interesting game theory from an attackers perspective about what coins they want to attack,
what exchanges, in what order, and what would deter them"
he also collected 800$ in donations already o_0
you can follow him on twitter to see when he goes live : https://twitter.com/geocold51

[dreamhouse]

Will be interesting to watch that... this guy need to prepare tons of hashpower I guess.

[hatshepsut93]

I believe that for educational purpose, it is very important. Of course, there are risks and many people can be harmed. But the central idea of cryptocurrencies is that they are projects that are difficult to attack.

Sadly, most people forgot about this, nowadays crypto-promoters lure people into investing in their projects by spewing buzzwords like "scalability" and "smart contracts", and nearly no one talks about security or game-theoretic fundamentals. Newcomers probably assume that everything that features "blockchain" is already secure, so there's a need to chase features. Hopefully this attack will demonstrate the importance of underlying consensus algorithms.

[Kakmakr]

This will be good publicity for Bitcoin and also good education to people about this kind of attack. I am saying good publicity, because people will see that other Alt coins are vulnerable to this attack, but Bitcoin to a much lesser degree. The total amount of hash rate in Bitcoin is massive and you will need more than 51% of that to pull of this attack. <The money needed to pull this off with Bitcoin, will cancel out the advantages of doing this.> 

A successful attack on Bitcoin, will destroy the economic value of all the tokens, so this attack will only work once and then people will abandon the technology, causing the price to collapse. 

[buwaytress]

Well, he gave ample warning, so whomever was behind the coin should have shored up defences. Thing about this is people don't want to be educated, they'll choose a coin over Bitcoin over the most simplistic views over comparisons. Need only to look at how bch markets itself to see how people view crypto superiority... Not by the security of the network but by the plastic features of "fast", cheap, etc.

Bigger is not better. Share a link of the recorded attempt somebody?

[TraderTimm]

Just wait when Coingeek/Calvin Ayre pulls his 23 - 30% hashrate from BCash.

Then they'll be open to fork attacks just like this one.

Should be highly entertaining.

[bbc.reporter]

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

[vit05]

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

He was banned from all the video platforms he tried to do Live. But he said he attacked BTCP and got + 70%. Maybe next time more people will pay attention.

[yesyes18]

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

Hehee...i read some news on Pivot app that he couldn't. Well, if he was abke to do that, no one heard about it. We are all focused on how to get our precious Bitcoin to the good whale in market and issues like this won't make any help either. And by the way, why didn't he try on BTC, he'd failed right from tbe beginning.

[bbc.reporter]

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

He was banned from all the video platforms he tried to do Live. But he said he attacked BTCP and got + 70%. Maybe next time more people will pay attention.

He said he attacked bitcoin private, but how do we certainly know that he was the hacker?

Also, what are his motives for announcing that he would attack a cryptocoin? Is he a member of the development team of a competing project?

This will be a new kind of FUD that will be used more as already mentioned.

[1BTC EQUALS 1CAR]

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

He was banned from all the video platforms he tried to do Live. But he said he attacked BTCP and got + 70%. Maybe next time more people will pay attention.

He said he attacked bitcoin private, but how do we certainly know that he was the hacker?

Also, what are his motives for announcing that he would attack a cryptocoin? Is he a member of the development team of a competing project?

This will be a new kind of FUD that will be used more as already mentioned.

I only have two possible reasons I can think of. One is he is not a fan of crypto and he wants the crypto community to show on how easy it is to penetrate their security and scare them or the second one, is that he just wants the each altcoins' team behind it to make a strong layers of security to prevent attacks.

[Hueristic]

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

He was banned from all the video platforms he tried to do Live. But he said he attacked BTCP and got + 70%. Maybe next time more people will pay attention.

He said he attacked bitcoin private, but how do we certainly know that he was the hacker?

Also, what are his motives for announcing that he would attack a cryptocoin? Is he a member of the development team of a competing project?

This will be a new kind of FUD that will be used more as already mentioned.

Nothing new here, BCX did it years ago.

https://weeklyglobalresearch.wordpress.com/2016/07/02/monero/

Monday 29th September 2014

Attack on CryptoNote Coins Threatened. Deadline Passes with No Attack Occuring

In a thread BCX started on September 17  he stated that he had no need or desire to attack Monero, but in the same breath claimed that he had found several specific exploits in CryptoNote (and thus Monero), one of which was a “coin killer”, and that he had the resources and ability to execute the attack at any time.

Was the hacker successful in his attack? There was no news about it, maybe he wasn't hehe. But this certainly will be the beginning of a new kind of FUD for cryptocoins that have low hashrate.

It might also be the beginning of competing low hashrate coins attacking each other.

He was banned from all the video platforms he tried to do Live. But he said he attacked BTCP and got + 70%. Maybe next time more people will pay attention.

Check the date.

https://pastebin.com/prBGYR37

[vit05]

He said he attacked bitcoin private, but how do we certainly know that he was the hacker?

Also, what are his motives for announcing that he would attack a cryptocoin? Is he a member of the development team of a competing project?

This will be a new kind of FUD that will be used more as already mentioned.

Nothing new here, BCX did it years ago.

https://weeklyglobalresearch.wordpress.com/2016/07/02/monero/

Monday 29th September 2014

Attack on CryptoNote Coins Threatened. Deadline Passes with No Attack Occuring

In a thread BCX started on September 17  he stated that he had no need or desire to attack Monero, but in the same breath claimed that he had found several specific exploits in CryptoNote (and thus Monero), one of which was a “coin killer”, and that he had the resources and ability to execute the attack at any time.

Check the date.

https://pastebin.com/prBGYR37

I think this was the main discussion topic about  BCX attack on Monero. Unfortunately, he has deleted most of his answers. And yes, it could be possible just FUD or dump and dump.

But to be honest, cryptocurrencies need those kinds of actions. The better projects will survive, the worst will die.

[Hueristic]

I think this was the main discussion topic about  BCX attack on Monero https://bitcointalk.org/index.php?topic=789978.0 . Unfortunately, he has deleted most of his answers. And yes, it could be possible just FUD or dump and dump.

But to be honest, cryptocurrencies need those kinds of actions. The better projects will survive, the worst will die.

Maybe, I think there were too many at the time as they were being spammed.

But as they say the cream will always rise to the top, I made my first purchase during this fud storm after following and deciding whether to get involved. I was not sure about it back then as I knew there was a issue with the miner but didn't know what it was, I just knew I could not mine even close to enough to justify the price it was selling at so I was suspicious for months and this Fud storm is what made me make up my mind to get involved and support Monero. I lost 50% of my initial investment in the first few days and it took me almost a year before I broke even. Lol If I had a dollar for every hour I've spent reading and researching Monero I would have far more than I have gotten from investing.