Post
Topic
Board Altcoin Discussion
Re: so are coins 2.0 / 3.0 going to eat btc???
by
piramida
on 27/12/2013, 20:12:32 UTC
well no, the owner is first to market with a complete pos system that is not on code base of btc


Yep and that's why it will be hacked in 2014. Not an exchange or wallet service, the coin itself. Observe.
Would you be able to go into more detail as in how this would be possible?

Yeah, somebody would devise an attack against this network which would allow unauthorized funds transfers of some sort. I don't have a code for that and would not bother to research it, but trust me, with this market valuation it's a ticking timebomb. Current version barely works at all as it is, does not resemble anything like bitcoin alpha, where the protocol was pretty solid from the start, features added as needed. This approach - lump many badly thought-through features together without ensuring the protocol works at all - is a perfect recipe for disaster.