Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Gnosis [GNS] POW/POS Hybrid - Anon EM/Stealth Addressing - Scrypt
by
Rage19420
on 16/09/2014, 18:21:39 UTC
Is it safe to assume it was a dev that sold premine on bittrex?  Nearly 400K gnosis?

Again there are nefarious groups at play most aren't aware of.

Just a reminder that when ever you see coins that have massive hash from mystery farms, the results could be catastrophic.

From a few days ago: http://www.forbes.com/sites/thomasbrewster/2014/09/12/50000-lab-exposing-flaws-in-cryptocurrencies-bitcoin-dogecoin/

Quote
Various alt currency networks ramp up or lower the problems’ difficulty rating depending on the popularity of the block of coins they’re protecting. Bailey found that he could make those problems difficult enough by shoving a massive amount of compute power on to the network if he timed it right. The network would respond by increasing the difficulty for a particular block. This would, in turn, scare many miners away. When the network later reevaluated the difficulty it would drop and Bailey’s crew could shove a tonne of resources at the problem, hog the mining capability on profitable blocks and easily acquire coins.