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Bitcoin Cash [BCH] under attack: An individual vs investors!

Simran Alphonso

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Bitcoin Cash [BCH] under attack: An individual vs investors!
Source: Pixabay

An unknown engineer is debilitating to strike the Bitcoin Cash [BCH] coordinated with a progression of spam attacks that the attacker accepts to be sufficient enough to shake the system.

The engineer had addressed individuals about his endeavor in the not-so-distant past, however, on June 22nd, the anonymous attacker said that the surge has begun and trusts it to be undeniably intense in the coming weeks.

Pastebin is a text storage site, a type of online content hosting service where users can store plain text. On such a panel the anonymous attacker who calls itself ‘Bitpino’ was asked about the execution of Bitpino’s plans, the attacker said:

“The combination guarantees several things: 1. The weakest nodes running on VPS’s will crash or run out of bandwidth and become non-responsive. 2. All other nodes will begin to stall out from multiple back-to-back pre-mined 32 Megabyte blocks”

The crypto-attacker believes that the attacks will test every aspect of BCH’s network. Bitpino has planned an attack which is expected to have 5,000 Bitcoin Cash attack nodes in roughly 6 weeks, after which Bitpino will multi-fork the chain.

The attacker on Pastebin spoke about why he is attacking Bitcoin Cash. He stated:

“It is a stress test to validate the integrity of the Bitcoin Cash network on behalf of it’s investors. In the past Bitcoin has been attacked for good and for bad but it’s integrity remains intact which provides investor confidence. The #1 basic rule to all decentralized computer networks is that if it’s not attacked enough to resolve any problems then it will end badly. Skype is the perfect example of a decentralized computer network that was reverse engineered, attacked and subsequently 3 indivduals collapsed all 100,000 backup supernodes leading to a full centralization of the protocol to Microsofts datacenter.”

As of now, no comments regarding the Bitpino incident have been released by the team of Bitcoin Cash.





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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.

Bitcoin Cash

Bitcoin Cash is ‘stupid’ and Roger Ver is a ‘scammer,’ claims Blockstream’s Samson Mow

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Blockstream's Samson Mow calls BCH "stupid" and Roger Ver "a scammer"
Source: Pixabay

In the latest edition of Magical Crypto Friends, Blockstream’s Samson Mow, CSO of Blockstream, criticized Bitcoin’s fork coins and their influential proponents.

Whale Panda, one of the most popular influencers in the crypto-ecosystem, addressed a myriad of subjects on the episode. One such subject was Bitcoin Cash [BCH] reversing a malicious entity’s transaction via a 51% attack. He started out by addressing the much-hyped fork coin attack and said,

“.. after the hard fork someone claimed the segwit coins and two [mining] pools and colluded took them for themselves to redistribute them to righteous owners”

Countering the former’s use of the term “righteous owner,” Samson Mow, who has been critical of Bitcoin Cash, took a shot at the community and added,

“How do you even know who owned them? [..] they just they gave the coins back under the rule of Finders Keepers”

According to Whale Panda, the attack highlighted how vulnerable the Bitcoin hard fork coin is to attacks. Following the statement, Mow called Roger Ver, CEO of Bitcoin.com and popular BCH enthusiast, a “scammer,” adding that the “only thing that matters is that BCash is stupid.”

He further explained that the entire reversal of transactions was possible in BCH because of “low hashrate” and would not have happened in Bitcoin Core [BTC]. Agreeing with Mow’s statement, Charlie Lee, creator of Litecoin [LTC] said,

“.. that’s true because if Bitcoin Cash, really does like die from this they can just go back to mine Bitcoin and they wouldn’t really lose their cash cow, right. Their miners won’t be worthless, but if they did this on Bitcoin and really hurt Bitcoin’s value, it’s gonna hurt their profitability by quite a bit.”





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