Quote from: Xamda on February 28, 2014, 04:04:50 PM

Quote from: mindfox on February 28, 2014, 03:58:34 PM

Quote from: Xamda on February 28, 2014, 03:51:22 PM

That's why it's bad for the coin. The coin's algorithm is programmed in such a way, that if a block is found by 2 wallets, the one who has the more difficult PoW is preferred and the other is rejected. Now if a wallet has more than 51% of hashing power, can you imagine who's blocks will *only* be accepted, if he wants to do so?
And if he controls the block chain, he also controls the way transactions and blocks are saved/generated/verified.

In plain words: he can play God with the coin. Now, imagine you don't hold any of Thor coins. Under these circumstances, would you be willing to buy some of these coins, when it could be that at some time, God decided that your coins never existed?

Think about that...

It is rather strange then that in fact not all blocks are found by CryptoPool.eu, because they are not...

I clearly stated that he has the power to do whatever he likes, not that it is happening automatically.
If he wants, he can make the blockchain go back in time (say even 100 blocks) and create a fork. Many things one can do with such a huge take over.

Didn't you see what happened with CEX.IO some weeks ago? They stopped accepting new registrations because they were near 33%, not the situation we are having in our hands with Thor coin.
Read the white papers about how cryptocurrency works. We all need to do it. It's not so simple as: Mine with the strongest...
There are rules that if broken, the whole system falls apart.

That is assuming CryptoPool.eu are bad guys out there to create chaos or kill the coin.... Several coins have total domination by one pool and they are doing quite well.

CryptoPool.eu is not accepting new users and therefore this problem should be deminishing over time. What would like them to do? Throw out miners alredy mining there?
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What you just said is the key to a coin's success or destruction. Assuming.
Do you give your money to a bank without a receipt?
a) If you do, good luck with that.
b) If you don't, why don't you? Is it because you assume that the bank will keep the money for itself since there's no evidence that they are yours?

In Market's world, there is no "assuming". There is "insuring". And the coin as it is right now is the exact opposite.
As to what I want cryptopool to do, I don't want them to do anything. It's their mess, let them clean it.
I am just trying to understand whether it worths it to keep supporting a coin that is not supported by the founders as it should, or not.