There are people/groups that can get GHs worth of mining power from GPUs alone.. How will a different algo defend against GPUs? I'm afraid we will see a similar hashrate distribution as we are seeing now. (though it would cost the attackers more resources)
And the bolded part is the crux of my argument. Even BTC can be taken down It's just the cost that must be kept too high to make it a viable solution.
There are people/groups that can get GHs worth of mining power from GPUs alone.. How will a different algo defend against GPUs? I'm afraid we will see a similar hashrate distribution as we are seeing now. (though it would cost the attackers more resources)
True, I've seen a guy who has a 4.6GH GPU farm in the industry environment; he said he used to run only part of minging force...
Scrypt-N may not be the way to go as there are ASIC miners availabe soon. Can we come up our own aglo, more or less that will delay the GPU or ASIC miners, but if we can mine with cpu only, we may lose miners too, ... just a thinking, anyway, never mind.
Sorry but I thought "N" factor was an adjustment to algo's and not an algo in of itself. But I do like your thinking and I feel this dialog is imperative for the safety of this coin. burying our head in the sand and saying we are doing all we can is not enough.
Also don't get me wrong guys I think the amount of effort and dedication is far exceeding what I would have dreamed possible. I just feel it is a failing strategy where one hard fork can save the day. So what if in 6 months or a year we have to hard fork again? Eventually the ASIC creators will realize it is not cost effective when coins move from their algo's as soon as the ASIC is released. Take away the incentive to create ASIC's and there will no longer be any. Once those who loss money on their hardware get burned they won't be so eager to gamble on it again. This is really the only defense to ASIC unless someone still thinks a brute force protection scheme of fighting asic with asic is working?
Why would people attack this coin?
Do they target all scrypt coins and try to make double spend attacks?
Or is it noble that get a special treatment for some reason?
We do seem to get special treatment but we are also in a special area of vulnerability that other coins are not. I would argue that we are the
MOST vulnerable coin ATM.
Why would people attack this coin?
Do they target all scrypt coins and try to make double spend attacks?
Or is it noble that get a special treatment for some reason?
I think we have some enemies, probably the same people who are involved in the scam coins and see us as a threat.
My opinion is that we should stay with scrypt, inevitably this will happen with any algo. The only way to not have this happen is to constantly switch algos,
which is a crap idea.
I think there will only be a temporary spare of attacks, then the "good side" will catch up in terms of hash power.
Please explain why that is a crap idea? Without it the fork comes anyway unless you have not noticed. at least with changing with the times we control how the fork is handled.