Duke Professor Says $8 Billion Bitcoin 51% Attack Could Become Profitable With Derivatives Shorts

BTC-2.25%
According to Duke University professor Campbell Harvey, an $8 billion Bitcoin 51% attack could become profitable by pairing majority network control with large short positions in derivatives markets. In a recent appearance on "The Wolf of All Streets" podcast, Harvey outlined a theoretical scenario in which an attacker simultaneously builds mining hashpower and establishes shorts, using price decline from the attack to offset equipment, infrastructure, and electricity costs. Harvey estimated the attack cost at roughly 50 basis points (0.5%) of Bitcoin's market value, arguing that derivatives liquidity on offshore exchanges fundamentally alters the traditional economic argument against such an attack.
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