A 51% attack is a potential attack on a blockchain network, where a single entity or organization that can control the majority of the hash rate, potentially causing a network disruption. In such a scenario, the attacker would have enough mining power to intentionally exclude or modify the ordering of transactions. They could also reverse transactions they made while being in control - leading to a double-spending problem.
Based on this definition, we can observe that blockchain, especially bitcoin in particular, can be attacked or destroyed by an entity that has great power. so who are they ?
It's CHINA !
It’s a very real possibility guys...!, China has that power to make it, and it could happen very very quickly because China controls more than half of the world’s Bitcoin mining operations — upward of 65% of the computing power to mine Bitcoin. No other country in this world is anywhere close to that number. even USA or Japan a country where bitcoin come from, China still more powerful than those countries. Additionally, according to Genesis Mining’s recent
“The State of Crypto Mining 2020” report, 60% of Bitcoin owners have a real concern about that Chinese majority and what it could mean for the stabilization of the cryptocurrency.
We should be worried about this facts. China now owning more than half of mining operations and that could result in a disruption to the system, instability to the Bitcoin blockchain or even a takeover of the entire system. as we know that Bitcoin was not built to be a controlled currency, but as you know that the Chinese are experts at mastering something even it's BITCOIN.
Why would China be motivated to destroy The king of Crypto (Bitcoin) ?
Well there are some reasons why China will take over the king of crypto, the first one is that China wanna make an Ideological Statement, China's interest on spreading their communist ideology by controlling this largest digital currency greatly gives China the advantage of spreading its ideology to the world freely and controlled manner. the second one is that China would Weaponize Bitcoin to Attack their Economy's enemy. as we know that today lots of foreign economies look to cryptocurrencies like Bitcoin as a safe haven due to the lack of financial infrastructure for their country, or due to the way their governments control traditional fiat currencies, and that will greatly benefit for China if they can control the cryptocurrency system, especially bitcoin.
For additional information, you can access this YouTube video to see how China really poses a threat to the stability of bitcoin.
BITCOIN FOR THE WORLD
