- Voluntarism.dev, an anonymous group of ‘old guard miners and whales’, has launched a 51% attack on Bitcoin Cash ABC (BCHA).
- Citing the Non-Aggression Principle (NAP) to justify their attack, the group protests the controversial Bitcoin Cash dispute over the controversy over the 8% miners tax.
- The attack changed the code to tax miners at 100%, instead of 8%, rendering mining efforts worthless.
Voluntarism.dev, a self-described group of the “ Old Guard Miners and Whales, ” today launched a 51% attack on Bitcoin Cash ABC (BCHA) to protest the controversial Bitcoin Cash fork on November 15.
The anonymous group changed the “ coinbase rule ” so that Bitcoin Cash mining sends 100% block rewards to the address associated with the infrastructure finance plan (IFP) – instead of the Controversial IFP tax of 8% which led to the hard fork This would make mining for BCHA worthless for miners.
A 51% attack refers to cryptographic attacks in which malicious actors take charge of the majority (hence 51%) of the network hash rate and can on their own impose policies on the network.
In early November, the Bitcoin Cash blockchain split into two: Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC (BCHA). The split, or hard-fork, followed the controversial coinbase rule, a proposed tax of 8% on all miners’ profits offered to a team of developers. It was extremely unpopular with Bitcoin Cash users.
51% of attacks are not uncommon in crypto. They are also expensive. This summer, Ethereum Classic, a fork of the Ethereum blockchain, suffered three 51% attacks, which could cost the attacker $ 3,800 in rented hash power. In April, Decrypt reported that a one-hour 51% Bitcoin Cash attack cost around $ 7,300, which at the time was equivalent to 1 BTC.
Voluntarism.dev is not deterred by the costs of launching 51% attacks, which it says is far less than ABC’s policy has cost them.
Vitalik Buterin, co-founder of Ethereum, believes the intention is to single-handedly destroy the network.
What separates this attack from the previous ones is how politically charged it is. In a tweet, the group justified its 51% attack on the grounds that “ABC violated the PAN”.
Dressed in the libertarian flag of Gadsden, the group invokes the libertarian axiom of the “principle of non-aggression” which allegedly prohibits any initiation into force or coercion.
As a result, the group claims, ABC initiated the force against miners by introducing the coinbase rule that imposes their profits at 8%.
This NAP-based anti-tax sentiment has long been part of the crypto movement: in 2019, for example, Bitcoin.com released an educational video on taxation and NAP. The video is presented by Roger Ver, a major supporter of Bitcoin Cash, sporting a volunteer flag t-shirt.
There is a striking resemblance between this 2019 video and today’s voluntarist.dev statement, but there is no public indication that Roger Ver is part of the group behind today’s attack.
Even though the NAP-based anti-tax stance has been taken by libertarian crypto enthusiasts and even manifested itself as the justification for today’s attack, contemporary libertarian philosophers outside the crypto bubble reject the principle as a matter of begging.
The price of Bitcoin Cash ABC was not affected by the attack. On the contrary, it reached $ 18.22 today with an increase of 1.33% in the last 24 hours.