They have the money to buy up any coin. They spend $10 million or even. $50 million and buy a well known coin with history and from the "inventors". That's how it worlks. Nobody buys into an ETF for a coin that just popped up last week. That's ridiculous. That's why I was rushing to start a coin cause the older coins will be worth more, also the ones with the biggest followers or a story, a unique story, which is why I like devcoin.
Don't bankers care about security anymore?
Are they going to deploy massive GPU farms to try to secure scrypt based coins, or merged mine with ASIC farms to secure all the chains they create ETFs for?
Remember a secure chain needs to have at least double the hashing power that the entire rest of the world can muster, so that even if everyone who is not mining it attacked it the attack would still fail...
-MarkM-
You know more than me about this but it doesn't seem PPcoin needs any of that.
Edit:
Or how a out china and India hashing away as $2 per day is good pay. You think half the planet hashing away 24/7 is enough security.
I don't know the answer but its not a problem that can't be resolved rather quickly.
The real obstacle is to get people to love digital money so much that they'll willingly forfeit their real money for fake money and do it happily. And that's the the Bitcoin carrot Andorra markets will do the rest.
We have max 2-3 years to make real money so let's work together cause once the objective is met they'll find an excuse to kill all alt coins. Maybe some asshole terrorist will use bitcoins to buy a bomb. Who knows. Something stupid - but grantee they will kill all crypto-coins.
Make money now and get out but work tether and make killer coins and make way more knew when the bankers come in. That's what I tried but I couldn't implement all my features cause I couldn't find a real programmer.
Good luck.