Quote from: kerogre256 on November 28, 2013, 12:50:41 PM

Quote from: seriouscoin on November 28, 2013, 11:54:08 AM

Quote from: AnonyMint on November 28, 2013, 11:44:50 AM

Quote from: kerogre256 on November 28, 2013, 11:32:05 AM

Quote from: AnonyMint on November 28, 2013, 11:13:20 AM

Quote from: kerogre256 on November 28, 2013, 11:09:28 AM

As soon you start insult people because they don't agree with you, you lose argument

Logic doesn't have an ego.

I lose the attention of the Bitards who would prefer to remain in blissful delusion. Perfect.

I see the Bitcoin Wiki is incorrect:

https://en.bitcoin.it/wiki/Attacks#Attacker_has_a_lot_of_computing_power

Quote

The attacker can't:

* Change the number of coins generated per block
* Create coins out of thin air

Can you try explain to me how they will able produce more coins?

Refer also to my immediately prior post.

Only miners can add coins with the coinbase transaction that is placed in each new mined block of the block chain.

If an attacker controls > 50% of the hashrate, the attacker will always have the longest block chain. So the attacker decides what is acceptable in the blocks.

The honest miners will reject any block chain which has more new coins in the coinbase transaction than was specified in Satoshi's whitepaper.

However, if the attacker has the longest chain, then the honest miners can ignore all they want, they will still have the shorter chain.

The entire double-spend security rests on the fact that only the longest block chain is valid.

So the only thing the honest miners could do would be to fork the block chain. But the attacker can then attack the forked chain. And so on and so on. There is no escape.

Checkmate. You accept the new coins.

P.S. If you try to blacklist the attacker by IP, he can send to the network from innumerable IP addresses employing a $100 botnet rental. Once you go down that road, the entire network has to be blacklisted, so lights out. Checkmate. You accept the new coins.

Hey dumb ass a node doesnt have to be a miner to be counted as a node. Having >50% hashing power doesnt mean >50% of network node.

Welcome to my ignore list retard,

Ok you have control > 50% you add 1000 bitcoin to new address and release the block you won race now how network will react to new chain whit additional 1000 bitcoin in only your chain ?

The network will reject the attackers block. If the attackers keep his hashing power, it would halt the network. However a new rule can be made in one day that nullify his attacking power.