Quote from: votecoin.site on May 05, 2018, 02:49:53 PM

Quote from: Ainars on May 05, 2018, 12:11:09 PM

Tom, with all respect, but IntenseCoin network had 51% attack just 2 weeks ago: https://intensecoin.com/2018/04/16/imminent-hard-fork-and-network-attack/
They ended up rolling back their blockchain and then forking it again! Another real mess with out-of-sync wallets for weeks and lockedown exchanges.

I know nothing about IntenseCoin internals. What I was able to learn from the article is this:
1) somebody gained significant hashing power and at the same time he exploited some weakness in IntenseCoin to find 6000 blocks himself.
2) IntenseCoin developers decided that this is bad and they made a hard fork, causing A LOT of troubles.

I believe that there are two problems. First one is the exploitable weakness, and second trouble is mad developers making hard fork as a solution for this problem.

If the very same problem happened with VoteCoin, 6000 blocks would be worth 750K VOT coins, which the "attacker" could actually sell at TradeSatoshi exchange to get 1.33 BTC.
The price of VOT would drop down to 100 sat. But that's the worst case scenario. Nobody gets hurt. All coins held by all users would be safe. There would be no need for any hard forking in my opinion.

VoteCoin uses a dificulty adjustment algorithm based on DigiShield v3/v4 [DigiByte-PoW], with simplifications and altered parameters, to adjust difficulty to target the desired 2.5-minute block time. Unlike Bitcoin, the difficulty adjustment occurs after every block. So I would say that VoteCoin does not have such weakness as like IntenseCoin and it would prevent such situation anyway.

There is no need to fear the upcoming ASIC release...

-Tom

The problem is not at all in this. The fact is that the company Bitmain (manufacturer AsicS - supports for the door, hair dryer, heater) just gets rid of used Asics, to sell greedy idiots who want easy money and who eventually lose their money by buying a large calculator that quickly losing profitability.
In place of old Asics new more powerful ones will come and if you do not change the algorithm (and I understand why - you use their ZEC network (hello t1) and do what they do? But the greedy Zcash team gets 2.5 coins from each block all the same, even better.
And what's the benefit to you? Do you know what will happen in the end? Bitmain with its ASICs will absorb the whole algorithm, all ordinary users will leave you. And you will have one member named Bitmain (hello Bitcoin, Bitcoin Cash, Dash). Electroneum for this reason decided to hold a hard fork for began to lose its community.
I, as a holder of Votecoin, are not indifferent to the fate of the coin. So I advise you to think over my words Tom.

Sorry for my English, I write this with Google translate