How much power does 51 attack bitcoin need

1. bitcoin is a kind of cryptocurrency based on decentralization, using peer-to-peer network and consensus initiative, open source, and blockchain as the underlying technology. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
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2. In fact, people will not let such a thing happen, because once someone controls 51% of the computing power of the whole network, the security and non tamperability of the system will be invalid, then the decentralization system of bitcoin will collapse, and the price of bitcoin will plummet or even return to zero, which is bad news for the participants of the whole network. Therefore, we will spontaneously control the distribution of computing power in the whole network, so as not to let one company dominate. Even when many people find that the computing power of a certain mine is too large, they will take the initiative to withdraw from the mine. Now the most powerful mining pool in the whole network accounts for about 25% of the whole network.

3. Today, bitcoin is like the gold rush of that year. More and more people are interested in this kind of electronic currency, and then turn on their computers to dig out some minerals. Of course, this kind of treatment is much better than that in the 19th century, because at least we don't need to go to the far west of the United States to dig for gold
as we all know, bitcoin is generated by a network node after completing the calculation of specific mathematical problems, and with the passage of time, the generation of bitcoin will be slower and slower. With the discovery of data blocks, unlocking a single block will be more and more complex, but the bitcoin will be less and less. Unless you use circuits or computer systems designed for mining, such as GPU computing, it's hard to quickly mine bitcoin - and these systems, in general, consume a lot of power< A computer used for mining bitcoin is very expensive in electricity and body.
the tracking results of foreign institutions on bitcoin data show that bitcoin miners use 1 million kilowatt hours of electricity every day - yes, 1 million kilowatt hours of electricity, which costs US $150000 in total to mine bitcoin. At the current exchange rate, the daily income of miners is about 470000 US dollars, but the majority of the income is not attributable to ordinary people like you and me. Most of these benefits are taken away by people who have built a special mining system. If ordinary users use ordinary computers to dig bitcoin, the benefits can't catch up with the electricity bill
as an emerging e-currency, bitcoin is not as easy to dig as it used to be, and its market prospect is difficult to determine.

4.

Bitcoin is a kind of network virtual electronic currency, and its price has experienced roller coaster like ups and downs. It has no physical support, to put it bluntly, a string of computer code. Personally, I think this is a very unreliable thing. The Internet bubble is very big. In November 2013, the price of bitcoin once reached a high level of 8000 yuan / piece. Subsequently, the central bank, together with five ministries and commissions, issued the notice on preventing bitcoin risks, and the price of bitcoin plummeted. Now the price of bitcoin is more than 2300 yuan / piece

Jingxuan finance didn't you send a lot of articles a few days ago. China is now investigating bitcoin. Crash

5. No visual inspection. Although the idea is good, if you can, then there will be hackers.

6. The so-called 51% attack is to take advantage of bitcoin's ability to use computing power as a competitive condition to cancel the payment transactions that have already taken place

if someone has mastered more than 50% of the computing power, he can find the random number needed for mining blocks faster than others, so he actually has the absolute effective right of which block
he can:
1. Modify his own transaction records, which enables him to make double payments
2. Prevent the block from confirming some or all of the transactions
3. Prevent some or all of the miners from mining into any effective block

7. Let's say that the value of bitcoin is basically equal to the cost of mining, and the server cost is the rent of renting the server for one year. The bitcoin exchange rate is about $1000 a bitcoin. At present, 25 bitcoins are generated in 10 minutes, that is, about $25000 per 10 minutes, 150000 per hour, 3.6 million per day, and about $1.28 billion per year. If you want to maintain 51% of the computing power for one year, that is, you need to increase the computing power equivalent to $1.3 billion of server rent. If we want to maintain the short-term computing power, the price will not necessarily decrease a lot, because the price of short-term renting servers will be much higher. And the current mining machinery is basically ordered directly like the manufacturer, the actual cost is much lower than renting the server. Therefore, the cost of launching a 51% attack on bitcoin is not low
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8. When a single indivial or a group has more than half of the computing power, the indivial or group can control the whole cryptocurrency network. If they have some malicious ideas, they may send out some conflicting transactions to damage the whole network.

9. I think it should be treated conservatively. My dad's experience has taught me what's the best. Find a famous doctor, traditional Chinese medicine, to open a suitable prescription, to insist on eating, can't because feel no effect, or think that after CT examination and a small step and give up taking traditional Chinese medicine. The adjustment of traditional Chinese medicine is a process. It's important to insist on it. Traditional Chinese medicine is not so fast in righting. There may be aggravation in the middle, but don't worry too much. Also, do not chemotherapy, eat Chinese medicine is not very toxic chemotherapeutic drugs, if the kind of strengthening the body and eliminating evil, improve the resistance of the kind of best.