Mike's 75% attack

[RawDog]

You know, all this hub-bub about 8MB blocks is really reduced down to a mere version of a 51% attack.  More accurately, it is a 75% attack.  Instead of one guy getting 51% of hash power, Mike has asked people to cooperatively join his '75% attack'.  When they all do join, they will strengthen their side of the fork and re-write history (the other side).  This is just a well-organized 51% attack.  But I love it.  I am on the side of the bad guys.  I love Mike's XT; despite it being nothing more than a thinly veiled 51% attack.  


This is awesome!  This is Bitcoin's first 51% attack.  And we are witness to it.  Bet you didn't think it would be like this.

[smoothie]

It isn't an attack if people have a free choice to use the version of the software.

It's called allowing the free market to choose.

He just put together the XT client and released it. No guns no war no pressure.

Obviously you thrive on controversy and drama.

[BitcoinEXpress]

You know, all this hub-bub about 8MB blocks is really reduced down to a mere version of a 51% attack.  More accurately, it is a 75% attack.  Instead of one guy getting 51% of hash power, Mike has asked people to cooperatively join his '75% attack'.  When they all do join, they will strengthen their side of the fork and re-write history (the other side).  This is just a well-organized 51% attack.  But I love it.  I am on the side of the bad guys.  I love Mike's XT; despite it being nothing more than a thinly veiled 51% attack.  


This is awesome!  This is Bitcoin's first 51% attack.  And we are witness to it.  Bet you didn't think it would be like this.

Excellent spin you just put on this!


~BCX~

[smoothie]

by the way RawDog ...


werent you the guy in 2011 saying that bitcoin would be dead and worthless very soon (on youtube)?

Look, 4 years later and the price is up some 1500% to 2000%.

 

[Hazir]

When majority agrees upon something - in this case whooping 75% is is called consensus, not an attack. Attack would be something done by minority and aimed to destroy.
In this scenario all I see is leading bitcoin to some conclusion and not necessarily to destruction. Stop with the 'attack' drama. Let people choose the side.

[Alley]

Interesting choice of words.  I guess ill be participating in a 51% attack for the next American president next year.

[kelsey]

by the way RawDog ...


werent you the guy in 2011 saying that bitcoin would be dead and worthless very soon (on youtube)?

Look, 4 years later and the price is up some 1500% to 2000%.

 

the mere fact that you express bitcoins worth as its price v fiat almost supports his 2011 prediction

[knolix]

When majority agrees upon something - in this case whooping 75% is is called consensus, not an attack. Attack would be something done by minority and aimed to destroy.
In this scenario all I see is leading bitcoin to some conclusion and not necessarily to destruction. Stop with the 'attack' drama. Let people choose the side.

I think 75% is misleading as consensus becouse it's 75% of last 1000 blocks not 75% of miners
Because miners are randomly awarded this 75% will hapen with a low % of miners it's just a matter of when the fork will happen

My guess is this will split bitcoin value into 2 coins

Best Regards

[RawDog]

My guess is this will split bitcoin value into 2 coins

Yeah?  What are you a fucking genius?  Why do you think they call it a 'fork'?  Holy shit. 

[Nxtblg]

Interesting choice of words.  I guess ill be participating in a 51% attack for the next American president next year.

Actually, there's a fellow - I think he's a Legendary member now - whose sidebar-sig says: "Democracy is a 51% attack."

 

[solid12345]

by the way RawDog ...


werent you the guy in 2011 saying that bitcoin would be dead and worthless very soon (on youtube)?

Look, 4 years later and the price is up some 1500% to 2000%.

 

Lucky for those who bought 4 years ago, however anyone who bought in late 2013 is down almost 80% their investment.