at that point isn't better for them to just attack the network with 51%? i see no sense here
A 51% attack is a once-off basically. If you do it successfully, the users will simply swap to a different mining algorithm which will render all of the attacker's expensive hardware worthless, so you had better make bank.
Looking for less disruptive, sustainable ways to earn extra is therefore more sensible.
That said, this particular "attack" is pointless for the reasons I mentioned above.
how can users simply swap to a different algorithm when it require an hard fork, and there will be never a consensu for this?
if the 51% of nthe net decide for a 51% and the remaining not, i doubt those 49% are going to agree to lose all their asic sha256 for a new algorithm
The 49% cannot use their SHA256 ASICs in that scenario anyway, because of the 51% using theirs to attack. A 51% attacker won't just fork the chain for 1 block and then retire to their lair, cackling like Dr Evil, they will continue to fork ANY chain using the same hashing algo, meaning all ASICs for that hash algo are written off for all except the attacker.
it make sense, but you can't simply rebuild a peta farm in few days out of thin air, where are all the money to invest in it?
you think the network would remian unoperative for months because they need to build new asic for a new algorithm, which will be in any case susceptible to another 51%(by gpu if not asic) because the total hash would be very low....
at that point isn't better for them to just attack the network with 51%? i see no sense here
A 51% attack is a once-off basically. If you do it successfully, the users will simply swap to a different mining algorithm which will render all of the attacker's expensive hardware worthless, so you had better make bank.
Looking for less disruptive, sustainable ways to earn extra is therefore more sensible.
That said, this particular "attack" is pointless for the reasons I mentioned above.
how can users simply swap to a different algorithm when it require an hard fork, and there will be never a consensu for this?
if the 51% of nthe net decide for a 51% and the remaining not, i doubt those 49% are going to agree to lose all their asic sha256 for a new algorithm
If someone pulls off a successful 51% attack, it means the network is vulnerable to a 51% attack. That means the coins are going to be worthless... for everyone. Of course there will be consensus for a mining algorithm hard fork. Even if there wasn't consensus, there will be a contentious hard fork, and the fork which can be 51% attacked over and over again is going to be worthless.
the coins will not be worthless immediately, you think all the investors that bough at this range, would dump everything in no time and losing their investment?
the reversed tansaction coins would be dumped but it's not a huge loss actually, he can't create a dumping more dangerous than those hackers in the past who stoled hundred of thousand of bitcoin