Eth undergoing 51% attack

[r0ach]

[Come-from-Beyond]

C'mon, it's the same as with Deepbit and GHash.IO in Bitcoin.

[freshman777]

Bitcoin was there, nothing happened. It's not a big problem to let one pool have 51% hash rate for a few hours.

[bathrobehero]

Clickbait nonsense title. It's not undergoing anything, it's just means Eth is potentially open to a 51% attack.

[bitcoinlitcoinbtcltc]

Yup, can confirm, Ether shit coin is currently under attack!

[Come-from-Beyond]

Yup, can confirm, Ether shit coin is currently under attack!

And this is Wall Street guys who are storming gates of exchanges trying to buy more ether.

[illodin]

Clickbait nonsense title. It's not undergoing anything, it's just means Eth is potentially open to a 51% attack.

It's not open to an attack, Butkerin will just simply issue a checkpoint and any attacks will be mitigated.

[pbleak]

By attack do you mean a mining pool has reached over 50% because if so, you know, just say that.

[hv_]

Are these Chinese dwarfs ?

I've seen even more than 60% before...

[Kolamider]

Are these Chinese dwarfs ?

I've seen even more than 60% before...

I think the Dwarf pool is a French one. It has been there since the start of the monero. It has not done evil now.

[Lutpin]

Oh noes, that means I'm part of this attack aswell. I don't want to be part of an attack, that sounds evil.
Calm your pants, OP.

I think the Dwarf pool is a French one.

Servers:
1) France 2) Montreal,Canada 3) Moscow 4) Hong-Kong
and via stratum:
5) Singapore 6) Melbourne 7) Shanghai

[TPTB_need_war]

Clickbait nonsense title. It's not undergoing anything, it's just means Eth is potentially open to a 51% attack.

It's not open to an attack, Butkerin will just simply issue a checkpoint and any attacks will be mitigated.

How do you issue a checkpoint against an ongoing 51% attack?

The 51% attacker has more hashrate than any fork you create, so there is no way to fork away from it.

Vitalik would need to issue every block ongoing. Thus there would be no more mining and it would be 100% centralized like Visa.

The lie about the community will get organized to defend against a 51% attack is a delusion. The only way I can see to defend is to change the hash function, but the other honest GPU miners aren't probably going to agree.

[Kolamider]

Clickbait nonsense title. It's not undergoing anything, it's just means Eth is potentially open to a 51% attack.

It's not open to an attack, Butkerin will just simply issue a checkpoint and any attacks will be mitigated.

How do you issue a checkpoint against an ongoing 51% attack?

The 51% attacker has more hashrate than any fork you create, so there is no way to fork away from it.

Vitalik would need to issue every block ongoing. Thus there would be no more mining and it would be 100% centralized like Visa.

The lie about the community will get organized to defend against a 51% attack is a delusion. The only way I can see to defend is to change the hash function, but the other honest GPU miners aren't probably going to agree.

That is right, we should move away from the Dwarf pool and mine in other pools or Dwarfpool open source its software.

[EastBirth]

I just use Dwarfpool as a backup mining pool. So I am not contributing to the so called "51% attack".

[smooth]

Vitalik would need to issue every block ongoing. Thus there would be no more mining and it would be 100% centralized like Visa.

This's exactly what was done with Peercoin. You still have "independent" mining and PoS mining, but the developer has to sign the blocks for them to be valid. Nobody gave a shit, and the coin kept going. As long as you can still pump it, people are happy. Few care about fundamentals.

[hv_]

Vitalik would need to issue every block ongoing. Thus there would be no more mining and it would be 100% centralized like Visa.

This's exactly what was done with Peercoin. You still have "independent" mining and PoS mining, but the developer has to sign the blocks for them to be valid. Nobody gave a shit, and the coin kept going. As long as you can still pump it, people are happy. Few care about fundamentals.

Money is stupid. Can't fix that, even my own does not want to listen to me and flees as I start trying...

... And it's gone!

[Nxtblg]

Clickbait nonsense title.

Well, it worked: both you and me are here.