feathercoin 51% risk

[stretchtime]

hi guys,

what do you reckon, is there a risk of serious 51 attack for feathercoin due to its different mining method. how was the experience with litecoin?

[MarKusRomanus]

well its happening, FC Simple Pool   now has 60% if the hashing power

[sumantso]

well its happening, FC Simple Pool   now has 60% if the hashing power

Are you sure? Thats terrible.

[MarKusRomanus]

We tell me if this correct.  The client reports on a ;getmininginfo' query  352352375hps

FC mining pool reports 210.6 Mhs = 210600000hps

210600000/ 352352375=.5977

[Davethedestroyer]

Can somebody explain like I'm five what happens when there is a 51% attack? I keep seeing this everywhere...

[MarKusRomanus]

Well its not like a pool would use this < 51% to do attacks on the system.  The pool just will find most of the blocks in mining. 

[sumantso]

Well its not like a pool would use this < 51% to do attacks on the system.  The pool just will find most of the blocks in mining. 

In the stats; it shows they got 7 blocks in a 21 block range. Any ideas why?

[baus]

Can somebody explain like I'm five what happens when there is a 51% attack? I keep seeing this everywhere...

If a single entity contributed the majority of the network’s mining hashrate, they would have full control of the network and would be able to manipulate the public ledger (blockchain) at will.

[MarKusRomanus]

Can somebody explain like I'm five what happens when there is a 51% attack? I keep seeing this everywhere...

If a single entity contributed the majority of the network’s mining hashrate, they would have full control of the network and would be able to manipulate the public ledger (blockchain) at will.

not true ..
They can..
Reverse transactions that he sends while he's in control
Prevent some or all transactions from gaining any confirmations
Prevent some or all other generators from getting any generations

They can't:

Reverse other people's transactions
Prevent transactions from being sent at all (they'll show as 0/unconfirmed)
Change the number of coins generated per block
Create coins out of thin air
Send coins that never belonged to him


The big issue with pools is this one...Prevent some or all other generators from getting any generations

[master.yoda]

Feathercoin is currently worth nothing. Given the alt crypto currency competition no ones going to give feathercoin a serious look for a long time. A 51% attack would be pointless right now.

[MarKusRomanus]

Feathercoin is currently worth nothing. Given the alt crypto currency competition no ones going to give feathercoin a serious look for a long time. A 51% attack would be pointless right now.

Yoda is supposed to be wise, man, wtf!