Is 51 Percent Attack This Easy?

[Newchanka]

I came across this guy that planned and seemingly succeeded in launching a 51 percent attack streamed live. Is this really that simple? https://cryptoinfowatch.com/hacker-gains-70-percent-control-of-altcoin-in-51-percent-attack/

[1714022887]

1714022887

[Agozyen]

I came across this guy that planned and seemingly succeeded in launching a 51 percent attack streamed live. Is this really that simple? https://cryptoinfowatch.com/hacker-gains-70-percent-control-of-altcoin-in-51-percent-attack/

If you can control 51% or more of the hashrate of a given coin then yes it's that easy.  The coins with lower market caps and lower hashrates are easier and get much harder the closer you get to the number one position.  It's not that big of a deal for the bigger coins though.

[Newchanka]

I came across this guy that planned and seemingly succeeded in launching a 51 percent attack streamed live. Is this really that simple? https://cryptoinfowatch.com/hacker-gains-70-percent-control-of-altcoin-in-51-percent-attack/

If you can control 51% or more of the hashrate of a given coin then yes it's that easy.  The coins with lower market caps and lower hashrates are easier and get much harder the closer you get to the number one position.  It's not that big of a deal for the bigger coins though.

If it really is that possible, I'm wondering why those coins are still standing. Why don't we hear more of these attacks?

[irenegaming]

In the whitepaper of bitcoin this attack is explained quite a lot, bitcoin was only vulnerable to these attacks in the beginning when it was easy to dominate the hashrate, but now that the network has spread so much is practically impossible, because no matter how much a conglomerate tries to dominate the network, it is going to be difficult to extract making it more reasonable to mine to get profits than to do a meaningless attack