Post
Topic
Board Announcements (Altcoins)
Re: [ANN] AEON [2018-11-30: update to 0.12.7.0+ ASAP; 0.12.8.0 on Windows]
by
estenity
on 11/12/2018, 01:59:31 UTC
Why do you care about "investors"? Surely people that use the coin are far more important than "investors".

Why do I care about investors? Investors are holders. If Aeon has more holders, it will have a bigger community, if it has a bigger community, it will have a bigger chance of success.

I feel like a lot of "investors" don't take part in the community. They just hold on to their coins expecting to make a profit, they don't purchase things with the coins, don't accept the coins as payment, don't participate in the community etc.

Finally, the hashrate itself isn't too important. The Monero network at 500 MH/s would be much more secure than the Bitcoin network at 500 MH/s. One has millions of computer securing it, and the other one has a single 5 year old GPU.
Also, a higher hashrate secures Aeon and that is very important. Maybe you did not hear the news about the Asic resistant coin, Vertcoin?

Sorry, I think you misunderstood what I said (or more likely, I just explained it poorly). The hashrate itself doesn't matter, what matters is how difficult it is for some hostile entity to get a significant percentage of the network hashrate.

There is still more chance of having a bigger community if there are more holders or trapped bagholders hehehe.

Is it really more difficult for GPU farms that can transfer mining from coin to coin to attack Aeon? How does that argument justify what occured with Vertcoin?

citation begins:
In a textbook 51 percent attack documented in a blog post by Coinbase security engineer Mark Nesbitt, someone seized majority control of the Vertcoin network’s hashing power to conduct multiple “reorgs” of the blockchain. The attacker essentially rewrote part of the ledger’s history and then, using their dominant hashing power to produce the longest chain, convinced the rest of the miners to validate this new version of the blockchain. With that, he or she could commit the ultimate crypto crime: a double-spend of prior transactions, leaving earlier payees holding invalidated coins.

https://www.coindesk.com/vertcoins-struggle-is-everyones-struggle