Bitcoin Forum
April 20, 2024, 04:24:56 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Can Bitcoin be displaced by another mined coin?  (Read 2060 times)
foggyb
Legendary
*
Offline Offline

Activity: 1652
Merit: 1006


View Profile
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.
1713587096
Hero Member
*
Offline Offline

Posts: 1713587096

View Profile Personal Message (Offline)

Ignore
1713587096
Reply with quote  #2

1713587096
Report to moderator
"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1713587096
Hero Member
*
Offline Offline

Posts: 1713587096

View Profile Personal Message (Offline)

Ignore
1713587096
Reply with quote  #2

1713587096
Report to moderator
datz
Sr. Member
****
Offline Offline

Activity: 295
Merit: 250


"to survive, we must live and fly"


View Profile
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.
datz
Sr. Member
****
Offline Offline

Activity: 295
Merit: 250


"to survive, we must live and fly"


View Profile
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
Legendary
*
Offline Offline

Activity: 1652
Merit: 1006


View Profile
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.
nameface (OP)
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
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
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
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.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!