Post
Topic
Board Altcoin Discussion
Re: Solidcoin 2 exploit: Difficulty coaster
by
tacotime
on 15/11/2011, 01:12:38 UTC
Remember that this 14% won't be coordinated, so you won't come ahead at all... there needs to be 14% more miners doing one side than the other. This is an useless exploit IMO - even worse than powerblock-only mining.

Well... if everyone does it pretty much everyone wins in terms of getting more for less.  Alternatively if you represent 50% of the network hash rate, it allows you to mine more than double the amount of coin.

With the difficultly algorithm the way it is (as was explained on BTC-e earlier), for every amount you decrease it the increased return in coin is exponential.  All it takes is one of the large scale miners currently doing tens or hundreds of gh/s of BTC to use the script as described and the whole SC2 network will be hijacked.  I was writing the script earlier today but got snagged in some python bugginess; it shouldn't be too hard to implement though.  Then all people need to do is mine together using the same script.  To use the script makes more sense in terms of profit/watt, so it seems obvious that people would coordinate with it.  As soon as someone does to a large extent it's likely others will follow.