Re: [DEAD] Coiledcoin - yet another cryptocurrency, but with OP_EVAL!
The coin was released with merged mining and the largest pool doing merged mining was not acting to appreciate the currencies value. That is a structural flaw in the launch of the coin.
So allowing merged mining is the "deep flaw" to you? Really?
Such a feature would only be considered a flaw if you assume that
- There are rogue, ill-intended big pool operators out there.
- The miners of such rogue pool operator would support an attack on an infant technology that has done no harm.
Honestly, I wouldn't call that a "deep flaw" since, before this shameful event, I would not take such hypothesis as something to worry about, particular the second one. I guess I still had more faith in mankind than I should have, it seems.
Even worse than Luke-Jr promoting such attack is the fact that he's apparently, so far, "getting away with murderer". Depressive. It's as if lots of miners would collude with deepbit to reach >50% and start double-spending to their profit.
The fact that you don't consider merged mining on day zero a flaw, especially in light of recent events is baffling. You really think that you can assume there are no people in the world with large computing resources at their disposal for use in a nefarious manner? Welcome to the internet, I hope you enjoy your stay.
Then again, lots of people have trouble with the concept of what merged mining is. They conflate hashing power with the resultant hashes. They don't understand contract law. They have no idea what is, and what is not valid cryptography. They have no idea what the criminal side of the internet engages in, or what sort of resources are at their disposal. So I guess I shouldn't be surprised that people get the ethics wrong.
Somehow, an act that caused no economic harm to anyone has everyone in a tremendous uproar. We need a picture of a cat and a car analogy to go with it.
