51% attack on Bitcoin Gold yet again

[akhjob]

Bitcoin Gold was previously 51% attacked in May 2018, now it has happened yet again as per this GitHub post and two double-spends have been made possible on 23rd and 24th Jan 2020. There have been several instances where all the Bitcoin Forks have been 51% attacked, and this just proves that when the hash rate is low and the miners are centralised, the chain is no longer secure. So people choose wisely.

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[edmundduke]

Bitcoin Gold was previously 51% attacked in May 2018, now it has happened yet again as per this GitHub post and two double-spends have been made possible on 23rd and 24th Jan 2020. There have been several instances where all the Bitcoin Forks have been 51% attacked, and this just proves that when the hash rate is low and the miners are centralised, the chain is no longer secure. So people choose wisely.

Pretty much all these forks are at risk of 51% attacks (well most of crypto is).

[qwizzie]

Bitcoin Gold was previously 51% attacked in May 2018, now it has happened yet again as per this GitHub post and two double-spends have been made possible on 23rd and 24th Jan 2020. There have been several instances where all the Bitcoin Forks have been 51% attacked, and this just proves that when the hash rate is low and the miners are centralised, the chain is no longer secure. So people choose wisely.

Pretty much all these forks are at risk of 51% attacks (well most of crypto is).

Dash Activates ChainLocks 51% Attack Protection, Becomes Most Secure Decentralized Currency?
https://dashnews.org/dash-activates-chainlocks-51-attack-protection-becomes-most-secure-decentralized-currency/

[nutriagrigia]

I do not understand people who continue to buy coins that have already been attacked by 51%. after the first attack, people should begin to understand that such a project is very dangerous for investments and even if they remove the consequences of one attack, then hackers will look for other vulnerabilities in such a coin.

[dataispower]

Bitcoin Gold was previously 51% attacked in May 2018, now it has happened yet again as per this GitHub post and two double-spends have been made possible on 23rd and 24th Jan 2020. There have been several instances where all the Bitcoin Forks have been 51% attacked, and this just proves that when the hash rate is low and the miners are centralised, the chain is no longer secure. So people choose wisely.

This is one of the major reasons why I laugh when people compare all these Bitcoin forks (BCH, BSV, BTG, BTD) to the original pace setter Bitcoin. We've seen some double spend scenarios in most of these forked chains, from attacks due to low hash rate. In essence to be safe, hold bitcoin for long term which is far more secure and not the forked coins claiming to have better features.

[edmundduke]

I do not understand people who continue to buy coins that have already been attacked by 51%. after the first attack, people should begin to understand that such a project is very dangerous for investments and even if they remove the consequences of one attack, then hackers will look for other vulnerabilities in such a coin.

All of crypto is dangerous. And why buy them, well that is easy, to make money. If anyone is brainwashed into holding those, then it becomes an issue, other than that it is speculation at its finest

[lunobird]

you newbs don't know how to play the crypto game.


btg is pumping in price.  Hack was small.

Ya in crypto bad news pumps the price and good news sells the price.  

Ya i wouldn't want to hold btg long term till they fix their issues.  But still a nice short term pump trade to be made

[Lantind]

you newbs don't know how to play the crypto game.

btg is pumping in price.  Hack was small.

Ya in crypto bad news pumps the price and good news sells the price.  

Ya i wouldn't want to hold btg long term till they fix their issues.  But still a nice short term pump trade to be made

What we hold is our own property rights in assets, so it's up to us to do anything about the assets that we hold, as long as all the steps we make are for profit and minimize losses in the market, and that must always be accompanied by our own research.

[inanilujimi]

I do not understand people who continue to buy coins that have already been attacked by 51%. after the first attack, people should begin to understand that such a project is very dangerous for investments and even if they remove the consequences of one attack, then hackers will look for other vulnerabilities in such a coin.

All of crypto is dangerous. And why buy them, well that is easy, to make money. If anyone is brainwashed into holding those, then it becomes an issue, other than that it is speculation at its finest

most people bet their luck in trading, because of the greater fluctuations in BTG.
see now the price continues to rise, so I agree that not everything that looks bad is bad and not everything that looks good will be good.

[bitkanu]

you newbs don't know how to play the crypto game.


btg is pumping in price.  Hack was small.

Ya in crypto bad news pumps the price and good news sells the price.  

Ya i wouldn't want to hold btg long term till they fix their issues.  But still a nice short term pump trade to be made

Even if the hack was small and that's enough to proven if there was a problem with the bitcoin gold blockchain. This is not the first time this coin gets 51% attack. Imagine that can happen anytime with more massive attacks. that will be a very bad thing to happen. 51% attack was an old problem that will never be fixed.

[BitDane]

you newbs don't know how to play the crypto game.


btg is pumping in price.  Hack was small.

Ya in crypto bad news pumps the price and good news sells the price.  

Ya i wouldn't want to hold btg long term till they fix their issues.  But still a nice short term pump trade to be made

I understand what you are trying to say, lets not be emotional but rather play the game on cryptocurrency volatility.  I hate BTG but for the sake of profiting, I tend to buy it during it lows and sell it once it pumps.  There is no use in long term holding in this kind of shitcoin.  Just buy it for a short term profit.

[Dickiy]

if bitcoin gold is attacked by 51% it shows the system vulnerability we should anticipate here if you run the risk of investing then upgrading is needed because when system improvements have been made there is a possibility to generate investment

[Hippocrypto]

you newbs don't know how to play the crypto game.


btg is pumping in price.  Hack was small.

Ya in crypto bad news pumps the price and good news sells the price.  

Ya i wouldn't want to hold btg long term till they fix their issues.  But still a nice short term pump trade to be made

I understand what you are trying to say, lets not be emotional but rather play the game on cryptocurrency volatility.  I hate BTG but for the sake of profiting, I tend to buy it during it lows and sell it once it pumps.  There is no use in long term holding in this kind of shitcoin.  Just buy it for a short term profit.

Long term isn't effective on low valued coins, much better dump them instead of expecting any good future on it. Only Bitcoin is my strongest asset and I can't expect it from other coins even if there's a nice trend that goes on. I couldn't build any confidence towards shitcoins unless there's a hype happening so I could ride on the wave of price increase.

[Jating]

Pretty obvious that this fork coins are really not that safe to be honest.

So I don't know why everyone is still surprised that some bad entities are easily pulling this 51% attack, on this case Bitcoin Gold because it can be done. So unless BTG do something about it, cyber criminals are going to exploit it. So I would agree that this kind of bitcoin fork coins are not to be trusted. Well you can invest on them, but you have to understand the risk of this kind of attacks in the future.

[ashmodeus]

well , somehow i just think its not make me surprised.
acording to data by this web , cost / 1 hour for attacking BTG blockchain just about $824 and also there have 40% nicehash able for hacking ( i mean for now).

[tbterryboy]

I do not understand people who continue to buy coins that have already been attacked by 51%. after the first attack, people should begin to understand that such a project is very dangerous for investments and even if they remove the consequences of one attack, then hackers will look for other vulnerabilities in such a coin.

All of crypto is dangerous. And why buy them, well that is easy, to make money. If anyone is brainwashed into holding those, then it becomes an issue, other than that it is speculation at its finest

most people bet their luck in trading, because of the greater fluctuations in BTG.
see now the price continues to rise, so I agree that not everything that looks bad is bad and not everything that looks good will be good.

Even BTG is a decentralized cryptocurrency which opens high volatile markets for the traders and we are traders never leave such opportunity with the high volatile markets and that is what makes most of the traders have profits by trading with BTG. Trading can now be least compared to "luck" factor as trading with huge knowledge can never bear you any loss.

You really need to be more advanced in terms of reading the graphs which would allow you to fill your bags with profits as soon as you find better entry and exit points. BTG is a good coin which is been forked from the main bitcoins and hence it might show us huge demand and high price rise in the coming bull markets.

[SquallLeonhart]

I doubt anyone in the bitcoin gold community really cares anymore. We all knew it once happened and we all knew it wasn't safe to own any of it and now we see why we were right, so if you are still supporting bitcoin gold that kinda means you are either idiot or you have too much of it to get out and want to get others into it as well to get out meaning you are shady.

There is no honest and smart person who would support bitcoin gold after the first one let alone keep supporting it after the second one.

It is a shame of course because many people lost money on this and we wouldn't want people to have these kinds of losses, it is always upsetting the already down to their last luck people losing even more money in the process of something like this but they kinda had a warning already.

[TemTum]

Bitcoin Gold was previously 51% attacked in May 2018, now it has happened yet again as per this GitHub post and two double-spends have been made possible on 23rd and 24th Jan 2020. There have been several instances where all the Bitcoin Forks have been 51% attacked, and this just proves that when the hash rate is low and the miners are centralised, the chain is no longer secure. So people choose wisely.

Pretty much all these forks are at risk of 51% attacks (well most of crypto is).

It’s why networks like TemTum was created - a live mainnet using bespoke blockchain technology and consensus based on a phd thesis of richard Dennis - recommend you check it out

[shinratensei_]

I do not understand people who continue to buy coins that have already been attacked by 51%. after the first attack, people should begin to understand that such a project is very dangerous for investments and even if they remove the consequences of one attack, then hackers will look for other vulnerabilities in such a coin.

It looks like this is just another PnD that has already created by someone or the whale. The 51% attack that happened with ETC means there was a vulnerability on its blockchain and that's very bad news.
The problem is there was a party that can take over 51% hash just in a short time and that can come back anytime.
That doesn't make sense to see this coin gets a huge increase too after the attack.

[wajik-tempe]

I do not understand people who continue to buy coins that have already been attacked by 51%. after the first attack, people should begin to understand that such a project is very dangerous for investments and even if they remove the consequences of one attack, then hackers will look for other vulnerabilities in such a coin.

Even for scam coins people that already know it will still buy it for trading profits. Most traders are not caring about the project of development itself but they just care about quick profits that they could get by selling it. So don't be wonder if people still buy a scam coin