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Looking at this bitcoin hash rate distribution chart (https://www.blockchain.com/en/pools), it only takes 3-4 mining pools to unite and do a 51% attack.
With this possibility, how can people still think that Bitcoin can be the money of the future?
PS: I'm also a bitcoin believer
It won't happen if the bosses of the pools are all ideal.
In the real word, they may be lunatics or terrorists, they may be cheated or threatened. As long as they have the ability, the world is in danger.
The traditional security is based on economics, or on rational persons. That is not enough. The goal of cryptocurrencies is to upgrade the security to be based on cryptography.
To consider security like "they can but they won't" is no more than the traditional system, cannot reflect the superiority of cryptocurrencies.
Won't happen.
Bitcoin's value (like that of most currencies) is based entirely on the belief that it has value. If someone were to perform a 51% attack on Bitcoin, it would greatly weaken the belief in Bitcoin, and the value would collapse. If a pool were to perform a 51% attack, they'd get a little money from the success of the attack, but at the cost of giving up a large amount of money from future success of Bitcoin.
In fact, there have been cases where a pool has come close to having 50% of the mining power, and when that's happened, the pool has voluntarily stopped allowing new miners to join in order to avoid even the appearance of being able to perform a 51% attack.
