Vitalik escalates ETH 2.0 merge as miners plan a 51% attack

Re:Vitalik escalates ETH 2.0 merge as miners plan a 51% attack by gruez on Friday March 12, 2021 @10:58PM (#26443824)

>2) Controlling 51% of Ethereum would probably cause the value of it to drop [1].

I think you're misinterpreting the paragraph. It's not that controlling 51% will cause the value to drop (it won't, see bitcoin miner control), it's that controlling 51% and trying to pull off an attack will cause it to drop.

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Re:Vitalik escalates ETH 2.0 merge as miners plan a 51% attack by ZephyrBlu on Friday March 12, 2021 @11:20PM (#26443932)

> To do so, you'd need to control 51% of the staked ETH. Not only is this a lot of money but it would probably cause ETH's value to drop

To me "it" is pretty clearly referring to controlling 51% of staked ETH.

I don't know about the economics behind whether that would cause the value of ETH to decrease, but Bitcoin seems like a different situation altogether since miners don't control the the cryptocurrency itself.

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Re:Vitalik escalates ETH 2.0 merge as miners plan a 51% attack by gruez on Friday March 12, 2021 @11:34PM (#26443985)

And how does the ethereum network differentiate two people with different wallets and one person with two wallets? Short of attaching some sort of real world identity to ethereum wallets it's impossible to tell whether someone controls 51% of staked ETH because it's trivial to split that up.

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