As long as *MINER is devoting more resources to mining than at least 50% of the rest of the network, there is nothing that can be done EXCEPT THE COMMUNITY DEVOTING MORE RESOURCES THAN *MINER, that will prevent *MINER from controlling the network. This is a universal truth for all *coin(s) Senj's changes will not fix this, Gavin's changes will not fix this, Satoshi's changes will not fix this. The fact that many of you have now committed to no longer mine and/or stake while waiting for a wallet change that you think will fix the issue is certainly making it look like " all over red-rover" to me though.
In the words of the CREATOR of PoW/PoS, "Controlling 51% of hashing power in ppcoin network does not get you direct control of block chain". It concerns me that as a 'main developer' you don't understand the basic concept of PoW/PoS.
You are right (by luck it seems) that if you control both PoW AND PoS, then it will take sheer resources to overcome that attack.
utc.tumblingblock.com has well over 50% of the network hashrate for ultracoin, yet I can solo mine ultracoin and have little or no problem with orphans at this very moment.
I also need to explain to you a very basic concept of how mining works... If it takes more resources (energy cost) to mine a coin, than what you receive in rewards, then it really doesn't make sense to keep mining it does it? At that point, it would be make sense (more cost effective) to buy coins on an exchange. I don't have enough resources at this moment to overcome the attack, but if you understood PoS/PoW, you would know it shouldn't take a lot. I have multiple PoS inputs trying to stake (unsuccessfully) every single day.
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If the community as a whole is unable to gather the resources to thwart *MINER, then possible the best move at this point, is to follow YbCoin's lead and move to POS only.
In my book, you lose all intellectual credibility with this statement.I have expanded my rigs, which means I have invested more risk and more capital, to help secure the network. I also have large inputs of PoS trying to stake every single day. Luckily, senj understands the issue.
*MINER doesn't control 50, 51, 52% of the hashing power they control enough to do whatever they want and dump for CNY on Bter. To that end.... why wouldn't they do it? The Yacoin community is composed mostly of folks such as yourself who seem to have no idea of what it actually going on and then try to bully other opinions out. You've probably already scared off a bunch of people already who could have helped the overall effort. YOU HAVE NO OPTION OF DOING THAT TO ME
Not in this realm or any other. It seems that now that times are difficult you are doing more harm than good. That's not to say that you haven't been helpful in the past, but I have more Bitcoin and time in Yacoin than you do Quote
If the community as a whole is unable to gather the resources to thwart *MINER, then possible the best move at this point, is to follow YbCoin's lead and move to POS only.
In my book, you lose all intellectual credibility with this statement.
In my book, you lose all intellectual credibility with this statement.
In the book of reality, this is probably the best option at this point. If the community, including yourself, cannot defeat the attack that is under way, than this (POS only) is what I am going to start concentrating on. You're certainly free to create your own coin and have the dictatorship that you seem to want.
Next bullshit post from you that doesn't offer anything useful or constructive, earns you a place on my ignore list.