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Title: Powercoin 51% Attack Post by: bonsai99 on June 21, 2013, 01:51:00 AM "BigVern @cryptsy
It appears there was in fact a 51% attack on powercoin around the 15th/16th. The individual responsible came from a China IP address" Wow, I'm glad I sold my Powercoins when I did! Title: Re: Powercoin 51% Attack Post by: noel on June 21, 2013, 02:24:03 AM lol I never got on this one so I guess someone has TURN off the power and left the miners in the dark [if you have coins I would keep them... why?? one word BQC power may bounce back]
Title: Re: Powercoin 51% Attack Post by: CaptainPicard on June 21, 2013, 08:33:15 AM What does this mean for coin holders? Is Cryptsy going to be covering the losses, or are they still solvent?
Title: Re: Powercoin 51% Attack Post by: austins on June 21, 2013, 08:40:10 AM "BigVern @cryptsy It appears there was in fact a 51% attack on powercoin around the 15th/16th. The individual responsible came from a China IP address" Wow, I'm glad I sold my Powercoins when I did! May I know where to sell Powercoins ? Title: Re: Powercoin 51% Attack Post by: CaptainPicard on June 21, 2013, 09:03:44 AM "BigVern @cryptsy It appears there was in fact a 51% attack on powercoin around the 15th/16th. The individual responsible came from a China IP address" Wow, I'm glad I sold my Powercoins when I did! May I know where to sell Powercoins ? No exchange lists powercoins. It apparently suffered a 51% attack. Title: Re: Powercoin 51% Attack Post by: crazy_rabbit on June 21, 2013, 09:23:08 AM What does this mean for coin holders? Is Cryptsy going to be covering the losses, or are they still solvent? Why would cryptsy cover the loses? Powercoin holders took the risk of dealing in something so unstable. They are the ones that 'cover' the losses. Title: Re: Powercoin 51% Attack Post by: CaptainPicard on June 21, 2013, 09:56:42 AM What does this mean for coin holders? Is Cryptsy going to be covering the losses, or are they still solvent? Why would cryptsy cover the loses? Powercoin holders took the risk of dealing in something so unstable. They are the ones that 'cover' the losses. Well they did give the all-clear and started trading Powercoin again after it was known that a 51% attack had taken place. They were exchanging coins that didn't even exist. Title: Re: Powercoin 51% Attack Post by: NWO on June 21, 2013, 10:06:06 AM No one should be blaming Paul or anyone else at Crypsty, it is the individual in China who thought it would be funny to fuck with people's lives. He is attacking not only PowerCoin but the whole crypto community and I would hate to see someone else's work fall victim to this guys power trips since he obviously lacks it in his own life.
Title: Re: Powercoin 51% Attack Post by: temor on June 21, 2013, 10:21:06 AM No one should be blaming Paul or anyone else at Crypsty, it is the individual in China who thought it would be funny to fuck with people's lives. He is attacking not only PowerCoin but the whole crypto community and I would hate to see someone else's work fall victim to this guys power trips since he obviously lacks it in his own life. What you on about lol? Destroying these shitcoins one by one is the only way to stop this altcoin-pandemic. We can't have 65 new coins popping up every day stealing money from unsuspecting gold diggers. These coins are nothing but a scam. They come out of nowhere and their prices shoot sky high, so that the ones who jumped on early can trade them in for actually valuable currencies and then they die, and everyone stupid enough to invest in it gets nothing. It's happened too many times to count now, so I welcome this 51% attack, and hope there is many, many more to come. Title: Re: Powercoin 51% Attack Post by: Snail2 on June 21, 2013, 10:39:02 AM Some cleanup would be useful indeed but such attacks could be damaging for the entire cryptocurrency "industry". So, carefully with that axe mate :).
Title: Re: Powercoin 51% Attack Post by: jackjack on June 21, 2013, 10:41:40 AM He is attacking not only PowerCoin but the whole crypto community Absolutely not.He proved that a shit coin can't be sold higher than a shit price. Otherwise someone will fuck with it. So he didn't attack Bitcoin. So he didn't attack "the whole crypto community". Title: Re: Powercoin 51% Attack Post by: anderl on June 21, 2013, 11:52:03 AM No one should be blaming Paul or anyone else at Crypsty, it is the individual in China who thought it would be funny to fuck with people's lives. He is attacking not only PowerCoin but the whole crypto community and I would hate to see someone else's work fall victim to this guys power trips since he obviously lacks it in his own life. What you on about lol? Destroying these shitcoins one by one is the only way to stop this altcoin-pandemic. We can't have 65 new coins popping up every day stealing money from unsuspecting gold diggers. These coins are nothing but a scam. They come out of nowhere and their prices shoot sky high, so that the ones who jumped on early can trade them in for actually valuable currencies and then they die, and everyone stupid enough to invest in it gets nothing. It's happened too many times to count now, so I welcome this 51% attack, and hope there is many, many more to come. idiot. you don't realize what you are asking for and how much damage it will do to crytos and LTC specifically. Title: Re: Powercoin 51% Attack Post by: Oldminer on June 21, 2013, 11:55:44 AM No one should be blaming Paul or anyone else at Crypsty, it is the individual in China who thought it would be funny to fuck with people's lives. He is attacking not only PowerCoin but the whole crypto community and I would hate to see someone else's work fall victim to this guys power trips since he obviously lacks it in his own life. What you on about lol? Destroying these shitcoins one by one is the only way to stop this altcoin-pandemic. We can't have 65 new coins popping up every day stealing money from unsuspecting gold diggers. These coins are nothing but a scam. They come out of nowhere and their prices shoot sky high, so that the ones who jumped on early can trade them in for actually valuable currencies and then they die, and everyone stupid enough to invest in it gets nothing. It's happened too many times to count now, so I welcome this 51% attack, and hope there is many, many more to come. idiot. you don't realize what you are asking for and how much damage it will do to crytos and LTC specifically. Meh, there's a Bitcoin bagholder troll in every alt-coin thread. Title: Re: Powercoin 51% Attack Post by: crazy_rabbit on June 21, 2013, 01:22:48 PM No one should be blaming Paul or anyone else at Crypsty, it is the individual in China who thought it would be funny to fuck with people's lives. He is attacking not only PowerCoin but the whole crypto community and I would hate to see someone else's work fall victim to this guys power trips since he obviously lacks it in his own life. What you on about lol? Destroying these shitcoins one by one is the only way to stop this altcoin-pandemic. We can't have 65 new coins popping up every day stealing money from unsuspecting gold diggers. These coins are nothing but a scam. They come out of nowhere and their prices shoot sky high, so that the ones who jumped on early can trade them in for actually valuable currencies and then they die, and everyone stupid enough to invest in it gets nothing. It's happened too many times to count now, so I welcome this 51% attack, and hope there is many, many more to come. idiot. you don't realize what you are asking for and how much damage it will do to crytos and LTC specifically. I think it will do negative damage. Negative as in it will make serious coins like Litecoin and Bitcoin look even Better and more secure. These sort of attacks will only go on to prove how important reaching network effect is. I'm generally against destroying people's work, although I start to warm up to the darwinian perspective that someone people profess. Title: Re: Powercoin 51% Attack Post by: bonsai99 on June 21, 2013, 01:28:01 PM Official statement from NWO
Just an official statement that PowerCoin PWC did suffer a 51% by an individual from a Chinese IP. I just wanted to clarify the rumours and to thank the community for their continued support over the months. What a journey it has been! ;D From this point forward PowerCoin will cease to exist. I will be in talks with Paul (BigVern) about a resolution for funds in cryptsy. Let it be known that this was not only an attack on PowerCoin, but an attack on the crypto community. Who are we to dictate which coin lives or dies, the markets and the people will determine a future online currency. Just how Bitcoin is an experiment for something even greater to stand upon it. |