From: David Vorick <david.vorick@gmail•com>
To: rob.golding@astutium•com
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Merge mining
Date: Sat, 4 Jan 2014 03:49:52 -0500 [thread overview]
Message-ID: <CAFVRnyr+fikViQWgM0-dEoPD4HF2OGAh3EHaYK5mEskNhZ25Ag@mail.gmail.com> (raw)
In-Reply-To: <9aaa913f73f45db41d94d93d02eed3fa@astutium.com>
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If you have the resources to attack one of the bigger altcoins, you
probably have a significant investment in the cryptocurrency space, and a
significant interest in protecting it. Compromising even something like
dogecoin would cause a lot of questions to be raised and likely drop the
value of bitcoin as well as all the cryptocurrencies using the same work
function as dogecoin.
Right now, there's very little benefit to attacking a significant currency,
because it would be very expensive and likely traumatize the whole system.
Unless it's some power like the NSA, I don't think there's much to worry
about.
On Tue, Dec 31, 2013 at 2:38 AM, <rob.golding@astutium•com> wrote:
> > But there's so much 'dry powder' out there (GPUs), I wonder if *not*
> > supporting merge-mining is any better? At least the attacker has to do
> > some unique PoW, so you hope it's costing them something.
>
> With lots of people having access to 100TH+ there's not really much
> 'cost' to doing a 51% attack on an alt-coin beyond a short-term
> diversion away from 'profitable' mining.
>
> At least by supporting merged mining, more miners are likely to
> 'support' multiple coin types, thus making a 51% attack from an
> individual/group less straightforward.
>
> >> The rational decision for a non-scam altcoin, is to take advantage of
> >> merged mining to get as much security as possible.
>
> Exactly.
>
> Rob
>
>
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next prev parent reply other threads:[~2014-01-04 8:49 UTC|newest]
Thread overview: 25+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-12-29 18:53 [Bitcoin-development] Looking for GREAT C++ developer for exciting opportunity in bitcoin space Evan Duffield
2013-12-29 19:27 ` Matt Corallo
2013-12-30 23:22 ` Peter Todd
2013-12-31 1:14 ` Luke-Jr
2013-12-31 7:28 ` [Bitcoin-development] Merge mining Jeremy Spilman
2013-12-31 7:38 ` rob.golding
2014-01-04 8:49 ` David Vorick [this message]
2014-01-04 10:05 ` Jorge Timón
2014-01-04 10:08 ` David Vorick
2014-01-04 10:34 ` Jorge Timón
2014-01-01 4:53 ` [Bitcoin-development] The insecurity of merge-mining Peter Todd
2014-01-01 5:09 ` Luke-Jr
2014-01-01 5:25 ` Peter Todd
2014-01-03 19:14 ` Jorge Timón
2014-01-03 21:01 ` Peter Todd
2014-01-04 0:27 ` Jorge Timón
2014-01-06 15:44 ` Peter Todd
2014-01-09 17:19 ` Jorge Timón
2014-01-10 11:11 ` Peter Todd
2014-01-10 11:25 ` Peter Todd
2014-01-10 12:37 ` Jorge Timón
2014-01-10 12:29 ` Jorge Timón
2014-01-10 17:22 ` Peter Todd
2014-01-10 18:50 ` Jorge Timón
2014-01-03 5:11 ` [Bitcoin-development] Looking for GREAT C++ developer for exciting opportunity in bitcoin space Troy Benjegerdes
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