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Author Topic: BSV undergoing 51% attack right now!!!  (Read 203 times)
DarkDays
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August 03, 2021, 09:49:12 PM
 #1

On today's list of crypto breaking news is that Bitcoin SV (BSV) reportedly suffers & is going through a massive 51% attack.
https://twitter.com/Altcoin_Alerts/status/1422671127084605441

For those new on here, a 51% attack is when a miner or group of miners manage to gain control over 50% of that network, compromising consensus, and thus leaving plenty of room for vulnerability.


Perhaps a good time to short BSV? Or even better, wonder what could have caused this... Either way, it's something to be aware of for the future of BSV and other alts.
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August 03, 2021, 10:05:57 PM
 #2

It turned out that in a very short time the attack took place resulting in 14 blocks, the question is whether this will have a bad impact or vice versa? Since the attack occurred for the first time on BSV, I've never heard of a sizable increase in hashing before reaching 50%.
Who is behind this organized attack plan?

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August 03, 2021, 10:15:15 PM
 #3

On today's list of crypto breaking news is that Bitcoin SV (BSV) reportedly suffers & is going through a massive 51% attack.
https://twitter.com/Altcoin_Alerts/status/1422671127084605441
Calvin Ayre has responded.

https://twitter.com/CalvinAyre/status/1422655648236453890

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August 03, 2021, 10:23:34 PM
 #4

this discussion should be moved to https://bitcointalk.org/index.php?board=67.0 altcoin discussion section since this one belong to bitcoin.

Funny tweet Smiley
https://twitter.com/CobraBitcoin/status/1422639984692142082

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August 03, 2021, 10:38:23 PM
 #5

Pity😪
Miners ain't tryna be nice
At least they should have maintained thier fidelity
Its pays to be good ..
Some rigid security team should be set
Are these Miners some kinda Tyrant or what?

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August 03, 2021, 11:14:04 PM
 #6

This is compliment news for all the BSV shitcoin and the fake Satoshi enthusiasts who were once advised not to join the BSV but choose to due to the act of profit-making. I think this attack is enough to make people believe Craig frame everything he said about been Bitcoin creator.

Who is behind this organized attack plan?
Is yet to know but 51% attack is always carried out by a project opponents

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August 04, 2021, 12:03:08 AM
 #7

You can read the complete story here. The price is still holding at the moment but it might fall later today. The attack went over 3 hours and all exchanges that received BSV at that time might have double-spent, this is concerning.   

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August 04, 2021, 05:42:38 AM
 #8

Perhaps a good time to short BSV? Or even better, wonder what could have caused this... Either way, it's something to be aware of for the future of BSV and other alts.
This is not a grave news. Majority hate BSV anyway. But this 51% attack is a big threat to other altcoins out there. We all knew whose behind this project and Ive seen countless of haters of their founder.

One thing that could blow is the possible marketcap decrease since bsv is also a top major coin with lots of volume. Traders gonna love shorting during this scenario.

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August 04, 2021, 06:46:02 AM
 #9

Pity😪
Miners ain't tryna be nice
At least they should have maintained thier fidelity
Its pays to be good ..
Some rigid security team should be set
Are these Miners some kinda Tyrant or what?

"it pays to be good" - in terms of 51% attack - only if you have something to lose. When you attack BSV its free money. To mine BTC you need same equipement. BTC hashrate is 200-500 times bigger than BSV. Means that 0.2% of bitcoin hashrate (one big farm) can jump to BSV for 3 hours double spend as much as they want and come back to mine BTC.

Perhaps a good time to short BSV? Or even better, wonder what could have caused this... Either way, it's something to be aware of for the future of BSV and other alts.



No one cares. -4% is nothing for such bad news. BTC dumped 2.5% that day. BSV is dead and everyone knows that.


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August 04, 2021, 06:52:21 AM
 #10

I think now is the best time to pull up a chair and break out the marshmallows and popped-corn.  Sit back and relax while (He-who-shall-not-be-named-but-claimes-to-be-he-who-he-is-not) rides in on a Stallion of the purest breed and manages to slay the Dragon, or some other convoluted excuse.

BSV in trouble?

Priceless...  Butter and salt anyone?

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August 04, 2021, 08:49:24 AM
 #11

You can read the complete story here. The price is still holding at the moment but it might fall later today. The attack went over 3 hours and all exchanges that received BSV at that time might have double-spent, this is concerning.   
So all the exchanges may halt the BSV in their wallets for atleast a week from now because previously the same thing happened on coinbase and other few exchanges when the coins faced 51% attack. Surely BSV is going to take an effect which also may affect other coins with low market cap.
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August 04, 2021, 02:36:41 PM
 #12

On today's list of crypto breaking news is that Bitcoin SV (BSV) reportedly suffers & is going through a massive 51% attack.
https://twitter.com/Altcoin_Alerts/status/1422671127084605441

For those new on here, a 51% attack is when a miner or group of miners manage to gain control over 50% of that network, compromising consensus, and thus leaving plenty of room for vulnerability.


Perhaps a good time to short BSV? Or even better, wonder what could have caused this... Either way, it's something to be aware of for the future of BSV and other alts.
Do you think that any platform offers a short for such kinds of coins? Especially when they collapse. Exchanges are not interested in your profit, so when something is wrong, they shut all opportunities to earn on it.
In terms of hacking, it is not easy to take control under 51% of the system, so it must be a serious hacker who managed to do that. We had better stay away from this project

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August 04, 2021, 03:24:29 PM
 #13



Well, I can hear the sound of many anti-BSV laughing all the way when they learned this news. I have to admit that I also never developed a certain liking and love for Craig Wright and his latest claim for the copyright of the Bitcoin Whitepaper is something beyond me to understand. Now that BSV suffered a 51% attack, maybe this is sending a strong message to Craig Wright to stop making big mess in the crypto industry.

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August 04, 2021, 05:02:47 PM
 #14

"Attacks on BSV and similar cryptocurrencies are "cheap and straightforward to perform" because they use the same algorithm as Bitcoin but are not protected by a large hashrate"
Kim Nilsson via coindesk

Duh! 🤦
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August 04, 2021, 07:22:19 PM
 #15

Oh well, I'm sure we all know that sooner or later some entity will try to attack any bitcoin clone for that matter. And it just proved that the network is not that secure as compare to BTC BTC. Although I read that it has been fixed already, and the price wasn't affected that much.

I'm just curious as to who is the entity behind this attack, maybe an individual or group of people trying to discredit BSV or its founder. But we all know that it didn't have the support of the community though, so it doesn't matter.

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August 05, 2021, 06:08:00 AM
 #16

Do you think that any platform offers a short for such kinds of coins? Especially when they collapse. Exchanges are not interested in your profit, so when something is wrong, they shut all opportunities to earn on it.
In terms of hacking, it is not easy to take control under 51% of the system, so it must be a serious hacker who managed to do that. We had better stay away from this project


Wrong. Exchanges earn on your fees not by speculating on extremely risky instruments. Short on bsv seams like a 100% win trade but its illiquid asset with centralized supply, highly manipulated with massive pumps that will most likely liquidate you sooner than you will take profit.

Big exchanges that support shorting BSV using derivates:

FTX, Huobi, Gate.io, kucoin, Poloniex, OKEx

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August 05, 2021, 06:31:51 AM
 #17

On today's list of crypto breaking news is that Bitcoin SV (BSV) reportedly suffers & is going through a massive 51% attack.
https://twitter.com/Altcoin_Alerts/status/1422671127084605441

For those new on here, a 51% attack is when a miner or group of miners manage to gain control over 50% of that network, compromising consensus, and thus leaving plenty of room for vulnerability.


Perhaps a good time to short BSV? Or even better, wonder what could have caused this... Either way, it's something to be aware of for the future of BSV and other alts.

I wouldn't buy that shit project. It is tainted. It has many enemies and it is in a weak state because of its low hash rate.

You may make huge profits though. It is a bit of gambling. Lots of people made huge money buying shitcoins before. Maybe its your turn to win.




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August 05, 2021, 08:14:54 AM
 #18

BSV is an outright scam supported by an ego-maniac enabled by a sole supporter Calvin. Both of them are the exact anti-thesis of the kind of people that Bitcoiners are.

Bitcoiners are about the cypherpunk ethos. You will see them tackle intricate code and esoteric hobbies with ease but they won't boast to normies and use technical jargon or their achievements to bewilder their audience. A true Bitcoiner/ Cypherpunk will most of the times go out of his way to explain things and make it easy for everyone to understand stuff. (ELI5). As a creed of men and women, they value praiseworthiness more than purely praise. So, when you see someone like CSW and watch him boasting about his achievements, its an obvious red flag that such a person cannot do any good.

BSV is supported by a bunch of exchanges and Calvin who has been defending the scammer all along. Most people who now remain within this ecosystem are either nutjobs are people who have too much to lose by accepting that its been a scam all along.

Its just common sense that if a network can have 14-blocks deep re-orgs after claiming to be based out of patented research and what not, it is simply not worth your time or attention. To anybody still in BSV, my advice would be GTFO till it continues to be propped up and you can get your money.

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August 05, 2021, 08:47:04 AM
 #19

On today's list of crypto breaking news is that Bitcoin SV (BSV) reportedly suffers & is going through a massive 51% attack.
https://twitter.com/Altcoin_Alerts/status/1422671127084605441

For those new on here, a 51% attack is when a miner or group of miners manage to gain control over 50% of that network, compromising consensus, and thus leaving plenty of room for vulnerability.


Perhaps a good time to short BSV? Or even better, wonder what could have caused this... Either way, it's something to be aware of for the future of BSV and other alts.
This type of shitcoins will face such type of attack situation putting malicious nodes in control of more than 51% network power and mine and make changes in block.This was coin which was not supported by many miners and exchanges in the initial days also and was being promoted as scam coins in the market along with others.The prices tumbled down 3-4% but still stands above $130 but not having any interest in them.

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August 05, 2021, 11:22:58 AM
 #20

This should be warning sign to all other bitcoin hardfork coin developers and holders, unfortunately, they are planning a difference coin from the hardfork that will have the same attack in the future. Lets be reminded that this same Bitcoin SV was born from four attacks from bitcoin cash. The Bitcoin SV attack was for several hours and they could not control/savage it.
Could it be the same attackers as the fight for the BCH ticker? I mean, who else has that amount of mining power to make a 51 percent attack.
And they had history of battling just for the ticker symbol.  Grin I'm just speculating but it's possible, right?
BCH is going downward to the ranks and if there is a chance they want to go back up, why not attack the other fork so some supporters will switch to them and they can gain momentum once again. Fingers not crossed.

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