60亿美元就能“击溃”比特币?

华尔街日报Published on 2025-10-10Last updated on 2025-10-10

最新研究显示,比特币面临的"51%攻击"威胁被市场严重低估,攻击者仅需约60亿美元就能摧毁比特币。

10月9日,杜克大学金融学教授Campbell Harvey在最新研究中警告,尽管比特币和黄金都被视为"货币贬值交易"的宠儿,但比特币面临的风险远超黄金。

攻击者可通过购买价值46亿美元的硬件设备、投入13.4亿美元建设数据中心,再加上每周约1.3亿美元的电力成本,在一周内完成对比特币网络的控制。

(隔夜比特币反弹失败,较日高一度下挫约3.3%)

通过衍生品市场做空比特币,攻击者可在比特币价格暴跌时获得巨额利润,足以覆盖攻击成本。Harvey强调:

你可以用60亿美元摧毁比特币的价值,虽然这种攻击听起来过于技术性,但可信度很高。

美国比特币公司总裁Matt Prusak认为这种担忧被夸大,积累和部署挖矿设备需要数年时间,而且做空需要巨额抵押品,交易所也可能暂停可疑交易。

51%攻击:比特币的根本性威胁

51%攻击是指单一方控制区块链网络超过一半算力的情况。

一旦成功,攻击者就能篡改账本、伪造交易,甚至进行"双花攻击"——即同一数字代币被重复使用。相比之下,黄金不存在类似的系统性风险。

此外,当前比特币衍生品市场的繁荣为51%攻击提供了经济激励。

Harvey的论文指出,交易者可建立空头头寸,用不到日均交易量10%的资金获得巨额利润,足以覆盖攻击成本。

这种利润机制使得攻击的经济可行性大幅提升,特别是考虑到攻击成本仅占比特币网络总价值的0.26%,远低于许多投资者的预期。Harvey强调:

攻击成本低廉是比特币未来可行性和安全性的严重问题。

Harvey进一步指出,这类攻击很可能在海外进行,因为许多地区缺乏有效的市场操纵防范措施。

业界对攻击风险存在分歧

尽管Harvey提出严重警告,但业界对此存在不同观点。

Prusak认为经济可行性不足以支撑51%攻击理论,他指出:

积累和部署足够的挖矿设备需要数年时间,这在现实中并不可行。

Prusak还强调,做空比特币需要巨额抵押品,而且如果交易所怀疑存在操纵行为,可能暂停交易,使攻击者无法兑现收益。

此前其他区块链确实曾遭受51%攻击并幸存下来。

比特币分叉币Bitcoin Gold和以太坊经典都曾受到攻击,但它们是规模较小的区块链,矿工支持度较低,更容易受到操纵。

风险提示及免责条款
市场有风险,投资需谨慎。本文不构成个人投资建议,也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资,责任自负。

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