Bitcoin 51% Attack Fit Launch for $6B for One Week
Research wey Duke University finance professor Campbell Harvey do show say e fit take one week to do Bitcoin 51% attack for about $6 billion. Dis estimate get $4.6 billion for mining hardware, $1.34 billion to build data-center and $130 million weekly for electric bill. For do Bitcoin 51% attack, pesin need control more than 50% of di network hashrate, so e fit change transactions, steal money via double-spend attack and threaten network security. Dem attackers fit do short for almost $70 billion BTC futures to increase their profit, pay their cost plus fit make prices drop. Before, we don see 51% attack for Bitcoin Gold (BTG) and Ethereum Classic (ETC) wey help dem steal over $1 million, but Bitcoin (BTC) don stay safe for 16 years. Some people talk say to build $6 billion mining infrastructure go take years, need plenty collateral and e go make exchange put extra security. Still, dis research show say proof-of-work get serious wahala, e make traders dey watch hashrate trends, derivatives position and exchange risk control well-well.
Bearish
Di risk wey dey for Bitcoin 51% attack show say network get serious wahala wey fit make investors lose confidence and make price drop small-medium term. Traders fit respond to di security gbege by reducing their long position and put more hedge or short position for BTC futures. Even though long-term solution like hardware diversification and protocol upgrade fit come, di immediate gbege fit make Bitcoin market price go down.