Re: SCAM Darkcoin instamine 2 millions DRKs (50% of darkcoin in circulation)
Monero idealists are saying it doesn't matter that the hashrate is dominated by botnets.
Monero coins have been and are being minted by criminals using unaware people's computers and electricity without their consent, and the people buying those coins off the criminals are happily receiving stolen property while riding their high horse of crypto morality.
Monero coins have been and are being minted by criminals using unaware people's computers and electricity without their consent, and the people buying those coins off the criminals are happily receiving stolen property while riding their high horse of crypto morality.
Nonsense - we invented Smart Mining to address both mining centralisation AND the risk of botnets. We're not ignoring the risk, and anyone who says otherwise is delusional. Bitcoin, Dogecoin, and Litecoin have all had major botnet mining problems, I don't think any cryptocurrency can pretend it's not at risk. The difference is that we're actually doing something about it instead of pretending it doesn't exist:)
What about it is nonsense?
The premise of hashrate dominated by botnets is nonsense as I explained earlier.
I take it the situation has changed to the better recently for some reason?
I have first hand knowledge that two botnet operators are mining XMR as we speak. So whether or not you or I think it is profitable is a moot point.
XMR has a relatively narrow user base, as much of the coin is being mined by the botnets. For instance, 4 MH/s botnet was discussed on #monero-dev and this is one botnet only, which gives about 240M difficulty. God knows how many of them there are actually, but my guess is more than 80% of the whole hash rate.
The largest XMR miner on minergate, botnet also. There are numerous ones mining XMR, and more will come for sure as the coin increases in value & exposure.
Botnets are a real problem. One pool owner shared with me this info
It's certainly possible that heavy botnet activity could occur for a short term with mining still being profitable for others (those posts were all a few months after launch), but it isn't credible for that to continue for a year or longer. Again, I'm sure there are botnets still but I don't believe they are close to dominating the hash rate. Even during that time period it was well documented -- later -- that dga had a huge part of the hash rate, at times over half, and he wasn't a botnet. So those claims about "huge" botnets early on are even a bit more suspect in hindsight.
Also OracionSeis was outed as a bought account some time ago, and was certainly a scammer who tried to launch QuazarCoin using the exact same name as Monero until the community shot down that dumb idea. So not exactly a credible source for anything.