Re: [ANN][THOR] THORCOIN- ASIC RESISTANT, NFACTOR- Newly Launched

Cryptopool.eu has nearly 100% of the network hashrate.........

PLEASE SWITCH TO OTHER POOLS BEFORE THIS COIN DIES!!!

And just why would the coin die because of this?

As long as cryptopool.eu is running, every miner is fine and so is the coin. They only accept invited miners now and their number of miners is not increasing very fast.

Now, THIS is something I would expect the coin developers team to answer.
If they don't feel the responsibility to explain how cryptocurrency works to their users, then I say let it die. Honestly, I'm too tired of this.
You guys let the greed blind you and you fail to see what is happening.

Let me explain it to you in simple words. Suppose I gave you a machine that prints US dollars. Real US dollars. And in a completely legal way (if possible).
And you started to print for yourself, your friends and family...

How long do you think it would take for the US dollar to have the value of a little more than a photocopy's cost?

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...

Xamda... just stop.

Just because they don't find ALL the blocks, doesn't mean they can't control it.

What will happen if their site is hacked? their server is hacked? Are you going to say "you were right" then?

I suppose you would just rather sit back and let it happen? No, the community needs to stand together and spread the hash evenly. There are plenty of pools to join. Sure you may not get as many pieces of the pie by going to another pool now, but you'll increase the health of the coin in the future, thus making it more valuable.

Xamda, Could you please read, and understand what is said here.... this guy knows what can happen, and is not accusing anyone. And what would you do, if you had this god powers,...

I have read and I understand, but I beg to differ. I know too what CAN happen, but that would require that this pool was in it to destroy the currency, which is highly unlikely. And if I had these "God powers", I would not destroy the currency since I am in it for the money...

This situation occurs from time to time with altcoins and still these coins are alive and well, because there is no gain in disrupting the currencies.

If miners would just choose another pool, the problem would be solved, but the miners want most bang for the buck and go with the pools they believe will deliver this.

I understand the concept of 51% attacks, but I think the risk for them to actually happen is rather small.

I will always choose the pool that will bring me the most profit, which does not necessarily has to be the largest pool.

What I asked earlier in this thread was also - what can this pool do? Kick out the miners to make them go elsewhere...? Do you really think that would benefit them? The other pools just have to offer something better and then miners will start spreading the hashing...