Oh please... Litecoin has over a billion US dollars invested in it. In what world will that just dissolve without a fight?
Current market cap is $128,668,972. That's 1/7 of a billion and even that is not hard invested cash (from outsiders), but rather mostly paid energy costs fees for mining (paid by cryptocurrency scene members).
and pump
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BoardBitcoin Discussion
Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative"
by
Alaric Saltzman
on 19/11/2014, 15:40:52 UTC
On the Reddit I read the following comment from SN811 "The PoW concept in relation to digital cash was introduced to solve a certain problem at a certain time (it's really an extension of hashcash in that sense). Anyone who designs a system based on PoW in 2014 does not understand really the purpose in the first place."
Can somebody please elaborate on what he is talking about or at least point me in the right direction? What exactly was the "certain problem at a certain time" that is being referred to? It seems vague to me.
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BoardBitcoin Discussion
Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative"