Director Blockstram: Cash, Bitcoin is vulnerable to 51 attack%

[KatrinSmile]

Today, in his Twitter, one of the Directors of Blockstream, Warren Togam, said that Bitcoin Cash (BCH) is unreliable and its low average hashrate imposes additional risks on investors due to double spending, which can be used by attackers.

According to him, at the moment there is a real risk of double spending in the Bitcoin Cash network, which can paralyze crypto-exchanges and reduce the low liquidity of the cryptocurrency.

Togami has previously expressed his disapproval of the famous bitcoin hard fork. Back in may, when the total hashrate of the BCH network was 12% of the bitcoin network, and transactions were completed after one confirmation, he warned the exchanges about the real danger associated with this cryptocurrency.

He now compares BCH to Feathercoin (FTC), a cryptocurrency hard fork of litecoin that was created in April 2013 and crashed in a couple of months. At the time of launch, its price was around $0.5, but after a 51% attack in June of the same year, it collapsed and became worth less than a cent.
"Reminds me of the situation from 2013:
1. The FTC broke away from LTC.
2. Just like BCH — developers were incompetent.
3. There were problems that could not be simply corrected.
4. Attack 51% and crash.
5. The problem was” solved " by centralization.
6. Repeat if the fate of Bitcoin Cash?”

[CaVO32]

the truth is, what's really the use of creating bitcoin cash in the first place? so i think, the fate of this will be like ftc later on. btc is still the major cryptocurrency used everywhere. very few people are using the bitcoin cash.

[btchunter786]

This is really a threat for the bitcoin cash as it will hamper the processing system which will lead them to negative reputation in the market. They need to solve such problems as soon as possible otherwise they will not be able to be in the market.

[Osakrita]

That is scary, 51 % is something that could change the general trust on major cryptos , the concentration of mining harsh rate the hands of just a few is to blame, too much centralization

[blackmagic111]

This has addressed a very important issue and this will also affect the market of bitcoin cash. This project should increase their capability to be ion the market and for this it has not earned so much popularity. This is really a big threat for this project.

[reactorjuno]

Wonder what Roger Ver has to say about this.
But don't forget November 2018 will be important for BCH, could be great or destructive depending what comes out eventually.

[BQ]

There has been 51% attacks in other coins too, I think one big part to consider with Bitcoin is that simply due to being around since day one it's very well distributed And the most secure and most proven, even if Bitcoin Cash is a fork, it never had the support from the majority community and people were basically forced to give bitcoin cash it's volume and price early on. A complete waste, since Bitcoin can itself acheive whatever Bitcoin Cash might want to do..

[KarinaMix]

to begin with, in my opinion, this will be a hindrance and a threat to bitcoin, in this regard, it will lead to fluctuations in the market, so they need to hurry.

[ChainFish]

This seems to have highlighted a very important thing in the market. And this seems to have an impact on BTC Cash. If they wish to be in the market for a longer period of time, they need to do something to increase their capabilities.

[WaterSeal]

It was no necessary to create the bitcoin cash when bitcoin was doing exceptionally well. When the core product is superior then why people will go for the alternative product? Same thing happened with bitcoin cash and now it is facing a huge down fall.