Please report back on your experiences.

Why would they do that? What makes Bitcoin, would be destroyed in the process IMHO. First, probably centralized network, so, controlled. Two, being a company, they would have to play by big gov rules. Three, given one and two, how that creation would be different from dollars and make users jump on it? If you like getting screwed, there is PayPal there for you.

Part of appeal of Bitcoin comes from the fact that this is basically a guerilla network, uncontrolled, no masters, no fear, everyone is equal and has equal opportunity to profit from this system. Nobody can shut you off from your resources, nobody knows how much you have and how you spend it. Proprietary currency would have none of it.

You can count my original 10 BTC here, in favor of Litecoin.

Considering the cost of a 51% attack, I doubt our bets will significantly influence its likelihood. This is just to clearly illustrate to his followers that CoinHunter is full of BS.

His username + his posts + the fact no one ever fibs on the internet

Seems legit.

Prove it.

Do you mind telling us how much hashing power you have?

If a botnet pool has 51% of the hashing power, they can generate half of the total coins. That's 14,400 litecoins a day or 76 bitcoins a day. If they can make that much legitimately, why risk it with a double spend attack that would likely kill your source of daily income. 550 btc is not worth it from the perspective.

If you look at last week's LTC chain data, you will see that about 5 out of every 10 blocks had the same address for the generate. This means someone is running a custom miner or daemon, and controls a very large chunk of the mining power.

For your reference:
http://blockexplorer.sytes.net/address/LSQAz3zmxfKAEPZJd9693Udrg19gEidHs8

What sort of hashing power would be needed to do a 51% attack?

Sure Facebook, Google, Apple, may be successful selling paypal-like tokens and they may be wildly popular and useful. They still will not match all of the properties of bitcoin. I strongly believe no US/EU registered company can produce a bitcoin killer without some revolutionary as-yet unfathomed idea.

Facebook will never produce anonymous cash. Never!

I don't think any company can afford the liability associated with 'owning' a bitcoin fork. A company may use and integrate bitcoin or a future improvement, but any value a company 'adds' will likely be more of the same (credit card, paypal, online banking).

Ah, ok, I was just curious.

Wow, do you have any pics of your farm?  That would be cool to see.

Out of curiosity, are you a botnet operator or do you run a farm of 1000+ PCs?

I don't know how often, but they check at least daily; probably more often than that.

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