# 51% attacks.



## cdawall (Apr 5, 2018)

So I do not know what all people know about these, but as we speak bitmain appears to be behind a large number of 51% attacks using their own ASIC miners.

First we had a vulnerability exposed on etn using the new cryptonight ASICs.

Actively there is one going on with verge and I fear some of the smaller ethash coins are next. Musiccoin is already up 800GH.

For those that don't know what a 51% attack is basically a single source takes over greater than 51% of the network and in doing so can essentially change what is being written to the block chain. They could refuse confirmations of new transfers halting spending for others and reverse transactions allowing double spends of their own personal coins.

Words of advice: 

DO NOT SPEND DURING AN ATTACK

Swap to a new coin while one is under attack even if it is less profitable as there is a heavy chance anything you mine could go up in smoke or be empty blocks. 

Good luck to all and I hope this gets stopped quickly...

EDIT: it appears Musiccoin has settled back down, their hashrate may have been a false alarm from miners pulling out for ethereum as 3GB coins lose the ability to mine inside of windows.


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## lexluthermiester (Apr 5, 2018)

That seems a bit scary. Could this be why the crytomarket is continuing to tank?


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## cdawall (Apr 5, 2018)

I do not think it is why it has been tanked lately, but I do believe it will tank the coins that are attacked and possibly cause some distrust in alt coins from here on.

We saw ETN hit an all time market low after the attacks, however it is consistently referred to as a shitcoin for a reason. There are large dev problems with that coin that stem from missed road map goals and such. Doesn't help that an error was found on their blockchain, half ass "fixed" which later led to a complete blockchain failure.

Verge does have me worried that is a quite large coin that has a lot of followers and what seemed to be a good dev team. They had massive gains across this past week and this will likely bring them back down to pre-gain pricing.


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## xkm1948 (Apr 5, 2018)

Quantum computing will render all these blockchains useless. So I would not mind if all of these “coins” disappeared


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## R-T-B (Apr 5, 2018)

xkm1948 said:


> Quantum computing will render all these blockchains useless. So I would not mind if all of these “coins” disappeared



No, it will just neccesistate a hardfork to something quantum resistant.  Nothing unusual, really.


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## Vayra86 (Apr 5, 2018)

Does a day go by without problems surrounding crypto lately?

I can't wait for this nonsense to die off

EDIT: see, Im a crypto currency expert, finally the recognition that was due


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## xkm1948 (Apr 5, 2018)

R-T-B said:


> No, it will just neccesistate a hardfork to something quantum resistant.  Nothing unusual, really.



Quantum resistent. Whoever can come up with an algorithm that chokes quantum computer will have a brain close to a living god.


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## R-T-B (Apr 5, 2018)

xkm1948 said:


> Quantum resistent. Whoever can come up with an algorithm that chokes quantum computer will have a brain close to a living god.



There are already big companies doing exactly that, man.


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## cdawall (Apr 5, 2018)

Some updates to my original post

Verge was not a true 51% attack turns out someone found an exploit in their code and was able to take advantage of it using CCminer to basically spoof hashrate. Verge will be soft forking to fix the error, this will require anyone with holdings in a private wallet to update their wallet before the coin will be usable again.


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## xkm1948 (Apr 5, 2018)

R-T-B said:


> There are already big companies doing exactly that, man.



Sauce? Give me a link?


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## hat (Apr 5, 2018)

Bitmain is a known shady company, but this is a bit much. I guess the more power you have the more shit you can do and greed know no limit...


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## R-T-B (Apr 5, 2018)

xkm1948 said:


> Sauce? Give me a link?



https://en.wikipedia.org/wiki/Post-quantum_cryptography


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## lexluthermiester (Apr 5, 2018)

R-T-B said:


> No, it will just neccesistate a hardfork to something quantum resistant.  Nothing unusual, really.


There's a lot of misunderstanding about Quantum computing. Once it becomes more common, or even mainstream, it will be a trivial effort to crack crypto with a quantum based algorithm. Only when there are cryptocurrencies based on quantum code will it become hardened. But even then because of how quantum computing works, any quantum encryption will be crackable by other quantum computers, as they work right now. There will need to be a great deal of advancement and research to to truly secure a quantum platform.


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## FordGT90Concept (Apr 6, 2018)

Quantum computing won't become mainstream any time soon because the closer to absolute zero the processor operates, the better it performs.  To reach near absolute zero, they basically use 25 kw freezers.  There's no technology I know of that's going to solve that problem for the everyman any time soon. Because physics.

All the current quantum computing machines are busy doing science.


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## R-T-B (Apr 6, 2018)

lexluthermiester said:


> There's a lot of misunderstanding about Quantum computing. Once it becomes more common, or even mainstream, it will be a trivial effort to crack crypto with a quantum based algorithm. Only when there are cryptocurrencies based on quantum code will it become hardened. But even then because of how quantum computing works, any quantum encryption will be crackable by other quantum computers, as they work right now. There will need to be a great deal of advancement and research to to truly secure a quantum platform.



You don't need a quantum computer even to prepare quantum hardened code.  They are doing it now, it just isn't in mainstream cryptography yet.

Read the link above your post.


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## lexluthermiester (Apr 6, 2018)

R-T-B said:


> Read the link above your post.


I did actually and it's a good source of information. However it's a good place to start, not finish, research. The reality is that quantum computing is in it's infancy and as such is often misunderstood.


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