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Author Topic: Can Bitcoin be displaced by another mined coin?  (Read 2060 times)
foggyb
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May 15, 2013, 03:31:00 AM
 #21

we will transfer the value of mined BTC to another non-mined currency. mining is inefficient, wasteful, and produces vulnerabilities. great marketing scheme and traction-generator - but we need to move on.

Dream On.

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datz
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May 15, 2013, 03:37:05 AM
 #22

we will transfer the value of mined BTC to another non-mined currency. mining is inefficient, wasteful, and produces vulnerabilities. great marketing scheme and traction-generator - but we need to move on.

Dream On.

I am not a dreamer. I am a doer.
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May 15, 2013, 03:38:26 AM
 #23

we will transfer the value of mined BTC to another non-mined currency. mining is inefficient, wasteful, and produces vulnerabilities. great marketing scheme and traction-generator - but we need to move on.

Dream On.

If you wish to survive - follow me. Else, perish.
foggyb
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May 15, 2013, 03:50:04 AM
 #24

we will transfer the value of mined BTC to another non-mined currency. mining is inefficient, wasteful, and produces vulnerabilities. great marketing scheme and traction-generator - but we need to move on.

Dream On.

If you wish to survive - follow me. Else, perish.

Whatever you say, kid.

I just registered for the $PLOTS presale! Thank you @plotsfinance for allowing me to purchase tokens at the discounted valuation of only $0.015 per token, a special offer for anyone who participated in the airdrop. Tier II round is for the public at $0.025 per token. Allocation is very limited and you need to register first using the official Part III link found on their twitter. Register using my referral code CPB5 to receive 2,500 points.
nameface (OP)
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May 15, 2013, 03:59:46 AM
 #25

we're moving on - we planned this from 0.1
LOL
Who's we? You and Satoshi back at the lab? Cheesy
oakpacific
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May 15, 2013, 10:25:05 AM
 #26

I'd say the vulnerability of all other mined coins to a 51% attack (or some other type of attack) by Bitcoin miners makes this impossible.
Are you saying that launching a 51% attack on a currency is a perfectly legitimate tactic for advocates of a competing currency to employ?
I would say that it does not matter whether it is 'legitimate'.  The salient point is that it happens.
It's not likely to happen on an organized, large scale through pools and the like if the community considers it an illegitimate tactic. Hence my question. Some might argue that it's theft, fraud, criminal abuse, or the like.

I would say it's in no way illegal, at least in its primitive form. You can't accuse me of mining with more than 50% of the network's hashpower, and you can't accuse me of refusing to process other's transactions because I don't want to use my own hardware to do that.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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