Quote from: markm on March 09, 2014, 02:55:03 PM

This is all aimed at miners though.

Who gives a damn about miners?

The only thing that makes miners important is securing the blockchain.

So ask whether people will prefer to use an insecure currency, one whose blockchain cannot be secured because any stupid meme can pop up overnight with more hashing power than it has, or a secure blockchain, one that is not vulnerable to a bunch of idiot kids armed with CPUs and GPUs ?

Years ago it was realised that blockchains are almost impossible to secure; even with merged mining they were not certain they could get enough hashing power to be secure; so they moved to Open Transactions for now until they have enough transaction fee volume to feel confident they could obtain enough miners if they moved back to a blockchain format. Since now new things other than blackchains are being tested maybe they will not ever need to use blockchains.

Look how well they have done in the years since: http://galaxies.mygamesonline.org/digitalisassets.html

-MarkM-

Why, yes, it is aimed at miners. And since one of the main points of digital currencies was to have something decentralized, and since ASICs tend to make things more centralized, we should all care about GPU miners. GPU miners are more important than just securing the block chain, they are important because they keep it decentralized.

If we follow your train of logic, all cryptocurrencies should go away except for bitcoin because they might "have enough hashing power to be secure". And look how decentralized that is.

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