Bitcoin SV Sees 51% Attack

The below is from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

The altcoin Bitcoin SV was 51% attacked earlier this week, and thus arose an opportunity to highlight the importance of the security model for “decentralized” blockchains. This tweet thread from Lucas Nuzzi does a great job of explaining what occurred.

The notions that bitcoin is “too slow” or that it doesn’t have “enough transactions per second” to be global money that many proponents of altcoins have championed over the years are based on incorrect assumptions and understanding of how blockchains work and what they fundamentally solve.

Leave a Reply

Your email address will not be published. Required fields are marked *