again this crap, the money needed to set up a mining operation that could overwhelm 51% of the network at this stage would be best used with that same equipment to secure the network instead, and earn the normal reward from the mining activity
would be more feasible for chinese to do this, because they are already at roi stage
You don't understand, the 51% attack is to destroy the infrastructure of bitcoin in order to save the established banking system in the U.S. and worldwide.
The cryptocurrensy community seems to ignore the inevitable threat of a 51% attack. Once the government and major banks see that Bitcoin is impeding on their infrastructure they will come together and execute a 51% attack. IT WILL HAPPEN, and the amount of money it takes for them to execute the attack is peanuts.
My question is, what cryptocurrensy has the necessary code to make it insusceptible to the 51% attack? LTC? NXTCOIN?
Let's Discus.. This is important.
"51% attack is the end of the world"
Wrong.
https://www.youtube.com/watch?v=_0mykANOMGQWatch and learn.
Also pretty poor FUD attempt.
No one is interested in your alternative shitcoins.I'm not promoting any particular coin. I'm asking what alt-coin out there isn't vulnerable to the inevitable 51% attack.
I'm a full supporter of bitcoin, but I will not ignore the fact there is a hole in the Bitcoin system which makes it imperfect.
The attack WILL happen.
Dude, watch this:
https://www.youtube.com/watch?v=ncPyMUfNyVMYou don't understand how Bitcoin and the blockchain works.
The amount of computational power you would need to severely disrupt the network at this point is just ridiculous, and they would lose tons of money trying to do so. They would gain way much more money by being good actors. Learn how the consensus algorithm works before you drop your next FUD thread.
I understand fully about how Bitcoin and the Blockchain works. My sister knows a guy who's ex-girlfriend's uncle was a friend of Sataoshi Nakomoto's brother. What you are saying is absolutely ridiculous. It doesn't matter how much money will be lost, the point of conducting the 51% attack is to save the banking system the U.S. has developed over the past century. They have no interest in becoming a "good player" and collecting peanuts from bitcoin. The major bankers view bitcoin as a silly computer game, and an annoyance that needs to be destroyed.