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Author Topic: $1500+ bounty for litecoin 51% attack  (Read 14237 times)
smoothie
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LEALANA Bitcoin Grim Reaper


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March 15, 2013, 11:55:23 PM
 #21

My time is valuable, and I lose it every time I have to explain to a friend why they should not invest in litecoin.  They are buying it because they don't know any better and hoping it will go up because bitcoin did, because it is currently "going up", and because its price per unit is lower.

Has it ever come to your mind that you were actually wasting your friend's time, and money?

I love how this guy was giving investment advice about NOT buying litecoins. Yet he misled whomever he was talking to away from 10x their initial investment in 2 weeks.

Most people who talk down Litecoin fail to realize that Bitcoin was once at this same stage. They are speaking based on ignorance and the "herd" mentality.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.                  History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
 
crazy_rabbit
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March 16, 2013, 12:13:19 AM
 #22

Wow! A whole $500?!?!?!?

more or less retired.
KWH
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March 16, 2013, 12:22:12 AM
 #23

Wow! A whole $500?!?!?!?

Or 780 LTC!

When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

Albert Einstein
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March 16, 2013, 12:27:01 AM
 #24

Com'on guys...
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March 16, 2013, 12:30:48 AM
 #25



Probably some of both.  Grin

When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

Albert Einstein
Garr255
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March 16, 2013, 12:42:19 AM
 #26

I will pledge negative $500 to this noble cause. So now the total bounty is $0. Any takers?

*silence, occasional cricket chirping*



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hope2907
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March 16, 2013, 01:18:33 AM
 #27

2,755,067kH/s
it's 3649 7970 card
with speed 755kH/s
ny2cafuse
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March 16, 2013, 01:36:04 AM
 #28

I will pledge negative $500 to this noble cause. So now the total bounty is $0. Any takers?

I pledge another negative $500, so when anyone does this they will owe me money.

Community > Devs
CryptoJunky
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March 16, 2013, 02:00:07 AM
 #29

This has to be a troll account.

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March 16, 2013, 02:04:51 AM
 #30

Mods can you ban this douchehat do you guys not have an anti-fucktard clause? xD
ErnestoJuarell
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¿Sabe lo que quiero decir?


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March 16, 2013, 02:15:05 AM
 #31

This has to be a troll account.
It's Satoshi

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March 16, 2013, 02:28:41 AM
 #32

This has to be a troll account.
It's Satoshi

Makes sense. My bad Mr. Nakamoto!

Simran
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March 16, 2013, 02:29:17 AM
 #33

I'll do it, but you have to pay me ahead of time so I can my shit ready :trlf:

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lophie
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March 16, 2013, 03:15:47 PM
 #34

You do realize the joke is whoever got 51% of the hashing power would probably shit 500$ in his sleep right?

Will take me a while to climb up again, But where is a will, there is a way...
lophie
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March 16, 2013, 03:18:03 PM
 #35

Send it to the address below, after 6 confirms, you will see havoc.

My favourite kind. The invisible kind  Cheesy

Will take me a while to climb up again, But where is a will, there is a way...
DarkHyudrA
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March 16, 2013, 04:01:08 PM
 #36

To encourage a demonstration of the insecurity of the litecoin network and the ridiculousness of its $10mil market cap, I will send $500 worth of bitcoin to whoever shuts down the litecoin network for 4 hours with a 51% attack.  I will escrow.  Please add to this bounty if you would benefit, as $500 is not enough.

...

They don't know that litecoin is accepted at <20 merchants and that this has something to do with the value of a cryptocurrency

They don't realize that the litecoin client hasn't been updated since version .62 and that it hardly has any developers

...

First of all, Litecoin is less secure than Bitcoin, but stills secure.

Second: And when Bitcoin was launched it started with a bank, a pizzaria and maybe 3 sex shops accepting Bitcoin yeah?
First needs to existe the currency, then the market will come.

Coblee is a active member, and Litecoin has no complaints actually, so no need to update.

English <-> Brazilian Portuguese translations
efx
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March 16, 2013, 04:12:05 PM
Last edit: March 16, 2013, 04:32:43 PM by efx
 #37

^ That's highly debatable. You assume the perceived *mathematical difficulty* of the algorithm dictates the security. There's much to be said for the 'security through obscurity' argument with cryptology.  Not only that, what hardware the algorithm utilizes to produce the result is also equally important.
Disregard the pure difficulty as we think of it. Scrypt is perfectly 'difficult' enough and no government currently controls millions of dollars of Scrypt ASICs like they do for sha.  

 
OP (whatever the hell your name is...not important):

I must seriously question your ability to comprehend how a blockchain functions. Also, you seem to have just found cryptocurrency in general...

At this moment, LTC is by far the hardest to destructively fork. Unfortunately, your gullibility and highly limited capacity for logical analysis has led you to believe that the current btc sha256 hashrate is even all that secure against 51%...Luckily, the US gov. doesn't really give a shit. They love sha though...That's for damn sure.

Also, LTC has several active devs. Just because no one tells you what's going on does not mean it is not happening. Bitcoin just forked, mainly due to the attempted increase in blocksize. I guess you haven't asked yourself what the point of .8 was....Looks like LTC should stay several months behind integrating the 'official' client updates just for safety. Of course, since LTC can handle more transactions in a given period of time, .8 isn't nearly as important for LTC as it is for BTC.

BCX helped with LTC dev. a bit afaik and then started the '51% attack' noise to scare people.

I'm not going to bother addressing every single point, because you made them up or pulled them from similarly uninformed sources.



So...No, I'm afraid your USD dust isn't going to get LTC forked, kid. Also, I suggest educating yourself before you make so many ignorant statements in such a short period of time.



*WAIT*

Did this kid actually say 'shut down the ltc network for at least 4 hours with a 51%'?

Damn, he really doesn't have a clue, does he?  "knowledgeable" + "My time is valuable"....... Cheesy
bitcool
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March 16, 2013, 04:34:40 PM
 #38

hmmm..... it looks like what OP was trying to say was:
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March 16, 2013, 04:36:29 PM
 #39

I highly doubt this money is going to be raised.

Chris Acheson
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March 16, 2013, 04:38:39 PM
 #40

Right now it'd cost somewhere around $20,000 to buy a botnet capable of performing 51% attacks against the Litecoin network.

However, you could make $200,000 from ripping off BTC-E's LTC/BTC buy orders alone.
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