Written by William Subergstaff writerReviewed by Igor Belkinformer editorBitcoin Unlimited 51 Percent Attack Could Cut Price in Half: Investor Blog
MagazinePublishedMar 30, 2017
An investment resource has claimed a Bitcoin Unlimited-introduced 51% “may be becoming a reality.”
Personal finance resource PFhub has suggested Bitcoin Unlimited is planning a 51 percent attack, which could see Bitcoin lose half its value.
In an article published on Wednesday, the website stated that “speculation” BU is “planning something big” such as a 51 percent attack is “maybe [sic] becoming a reality.”
It continues, warning:
“Investors should pay close attention to this because it might result in a hard fork, or a coin split that has the potential to cut the price of bitcoin by 50%. Such an event would be huge, a hard fork would effectively cut the price of bitcoin in half.”
The publication’s angle continues a wave of doom mongering attached to the prospect of a Bitcoin hard fork occurring this week.
Comments by Bitcoin Core developers, notably Peter Todd, concerning a 51 percent attack meanwhile struck a different note.
While suggesting changing Bitcoin’s algorithm would be a “good backup plan” in the event of an attack, Todd made it clear he did not consider Bitcoin Unlimited an example of it.
PFhub continues by attacking former Core developer Gavin Andresen. “Even though Andersen apparently is not involved in Bitcoin anymore he seems to be promoting a plan to crash some of the bigger wallets and exchanges,” it wrote.
Bitcoin has stabilized in the past 48 hours after the second rejection of an ETF, this time from SolidX Partners, in which the currency temporarily lost around 1.5 percent of its value.
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