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Author Topic: Why are big Bitcoin miners not destroying Alt coins with a 51% attack?  (Read 523 times)
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August 12, 2019, 07:54:19 PM
 #41

Bottlecaps the only coin destroyed in crypto-history by 51% attack, recovered from the attack only to die later a natural dead.
Anyone with a modern desktop could attack hundreds of coin as some just have a old computer run in a basement for whatever reason to maintain the chain. There is nothing to gain to waste time and money to destroy for example izerocoin.

Yes and No. If your intention is to discredit the whole Alt coin market, then you only need to bring down a bunch of these smaller coins with little or no hashing power and you would tarnish the reputation of the whole Crypto currency community.  Angry

The general public has shown that they do not understand the difference between 3rd party services getting hacked and the actual Bitcoin protocol being hacked, so with every exchange hack... people read in the media that Bitcoin was hacked and they just accept that as the truth. <The same thing will happen when small Alt coins goes through an 51% attack like that>  Angry
Crypto currencys to a damn good job a tarnish the reputation themselves.
There was nothing legal about the Ethereum split. A dev is no court or judge to decide what is right or wrong.

Ripple "selling" XRP which is technically is a lease as you can never own XRP, it it always belongs to Ripple same as a casino chip, jeton belongs to the cassino, taking it home or giving it to your brother changes nothing on it. I dont know of any country such deceitful tactic is legal. Actual ownership and lease is worlds apart especially without informing the consumer.

Litecoin is literately a walking zombi coin where no development has happens this year, the creator exit scammed last year and by his words does not care what happens to the coin. Its traded, thats about it. https://youtu.be/UpeWcRR0kcs

The endless ICO's scams barely finished the next wave of devs cash cow is on the way and people start to "invest" in stablecoin aka digital gift cards. Who in his right mind walks into a shop to buy a gift card as investment.

Should we include the never ending exchange hacks. To hasten some crap coins exit is no reputation damage.

"The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling."  Satoshi Nakamoto, April 2009          Avoiding taxes is totally legal if you consider and respect the law.
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