Thank you. I see this argument pop up on HN all the time and can't understand why it's so common. You'd think if a 51% attack were such a threat to Bitcoin it would have at least been attempted by now, after so many years.
Re:Bitcoin is fiat money, too
by Dylan16807 on Saturday September 23, 2017 @04:15PM
(#15321487)
Why do you think that?
Being able to fake blocks isn't significantly more useful than being able to double spend. I don't see why that would be the tipping point.
The reason you don't see these attacks is that they are difficult and very expensive and they would ruin the value of the coin so you can't even profit off it.
This is a common misconception about bitcoin. Every single node on the network validates every single block, not just miners.