Post
Topic
Board Announcements (Altcoins)
Re: [SCAM] GARLICOIN - Reddit's Garlic Bread Worshiping Currency
by
alani123
on 04/02/2018, 21:43:14 UTC
Why is this suddenly called a scam?

Facts:
- There is no solid proof of an ASIC on the network and if this EVER happens a switch to scrypt:11 can be made later in the future
[snip]
- There is NOT going to be a hardfork and there is none planned in the near future

The fact that there's not going to be a fork is what's killing Garlicoin, really. The devs forked it with an algo that's flawed and still went on to advertise as ASIC resistant. Isn't that suspicious? Ok, let's attribute that to incompetence. I'll give them that... But if Garlicoin is not forked to an ASIC resistant algo soon it really is a dead coin. There really is no scrypt-n coin with an active community right now, the reason being that anyone with an ASIC could dominate the network and bring transactions to a halt by a 51% attack.

No coin can live with that being even a remote possibility. It makes it vulnerable to attacks and the immutability of the chain is basically gone. All the good features of decentralization are basically compromised under such an attack vector being open. You're a pool operator, you oughta know this... I take it that you're at least a bit more knowledgeable that the coin's developer but why be in denial? All the proof you need to have is out there.

https://web.archive.org/web/20140814181936/https://www.hashcoins.com/product/hashcoins-notus/
https://web.archive.org/web/20150421022449/https://www.hashcoins.com/product/hashcoins-triton/

Do you even realize that a party holding a handful of miners could do a 51% attack on Garlicoin? Its chain is worthless.