I have been using crypto since 2017, made plenty of dumb trades which caused me to lose out a lot. Currently my portfolio is about 80% BTC and while the new USA admin seems they may do more damage than good to the crypto space I’m still positive about Bitcoin.

This sub seems like a meme or anti-btc sub mostly. Anybody here who isn’t that way?

  • Sonalder@lemmy.ml
    1·
    2 days ago

    Do you understand what it would need to change multiple blocks on 51% attack. Getting 51% of hashrate is a thing, maintaining long enough is another. Also if 51% attacks happen in a PoW consensus it can recover from it, not without any damage but it can recover. On PoS systems, once it happend it’s done.

    PoW has probabilistic finality. The deeper a block is buried under subsequent blocks, the less likely it is to be reversed. Deterministic finality is not a universal upgrade — it trades off with flexibility and recovery mechanisms.

    Main risks regarding PoS resilience are in my opinion :

    • Centralized staking: A few providers (Lido) control large shares of stake, increasing systemic risk.
    • Recovery assumptions: PoS chains often rely on subjective knowledge of the canonical chain in recovery scenarios (see “weak subjectivity”).
    • Slashing risks: Honest validators can be penalized due to bugs or network issues.
    • Sibshops@lemm.eeEnglish
      2·
      2 days ago

      Centralized staking: Yes, it’s a concern, but so is centralized mining. We’ve seen real-world 51% attacks on PoW chains due to mining centralization.

      Weak subjectivity: True, it’s a real factor, but not a showstopper. Clients just need to use a recent finalized checkpoint.

      Slashing risk: It exists in theory, but we haven’t seen it hit honest validators in practice, even on smaller PoS chains.

      • Sonalder@lemmy.ml
        1·
        2 days ago

        We’ve seen real-world 51% attacks on PoW chains due to mining centralization.

        What chains are you referring too ? Cuz except some SHA-256 mining coins like BCH I can’t remember hearing about that.

        • Sibshops@lemm.eeEnglish
          1·
          2 days ago

          Here’s a list of a number of them: https://99bitcoins.com/wiki/51-percent-attack/

          I should note that I’m lumping in security as part of resilience, since being able to recover from problems includes being able to recover from attacks and limiting damage from attacks. If something is not as secure it’s not as resilient, either.