Look at the hashing power and difficulty. If less than half of the hardware in the world that is capable of mining it is mining it then it is way too vulnerable, so basically for each type of non merged mined hashing (SHA, scrypt, prime numbers etc) check out the one that has more than half of the hashing power, for starters.
For example primecoin and protoshares both use CPU mining, so which of them has more than half of the world's CPU power mining them?
Ooops, neither. CPU is a really crappy choice because it is unlikely that as much as half of the world's CPU power is even mining at all, let alone all mining the same coin.
So forget all the ones that are CPU-mined, until they come up with ASICs to do their mining they are trainwrecks waiting to happen.
(Waiting to become valuable enough to be worth wrecking, so I guess if you are only looking for crappy little penny-stock type toys they are fine, but if you are interested in coins worth $300,000 or more per coin forget all the CPU and GPU mining crap, get ASICs deployed as soon as possible or just assume the great chain robbery will happen as soon as it is profitable for the robbers to make it happen.)
So hmm I guess we are down to bitcoin and maybe a few of the coins merged mined with bitcoin (those that have more than half as much hashpower/difficulty as bitcoin)...
Oh proof of stake? Last I heard is still doesn't work without proof of work, plus, the actual proof of stake itself has a man-in-the-middle, much like Solidcoin, it seems. A gang is already sitting there with their hands on the wreck-switch just waiting for the right time to pull a heist...
-MarkM-
To MarkM,
With all due respect:
Would you care to explain to the rest of us exactly how for example: CPU mined Securecoin and Quark are allegedly 'train-wrecks waiting to happen'
And of course Primecoin too since it's not quite as well secured against attack exploits as the first two mentioned CPU mined Crypto (Securecoin and Quark).
I say BULLSHIT to this claim of MarkM's. And I am requesting that you explain yourself here!
I will also PM you if you don't soon respond here in this tread. I for one desire answers and I am quite serious about getting some here, just in case your really in the know about something(s) that no one else is.
MarkM this is serious stuff your claiming here. These FUD Posts like MarkM's have gone way too far, and if you care to witness even more Bit-Shit Shock & Awe well all you have to do now is sit back and watch with horror cause your types are behaving as badly as the Evil Banksters have all along, and fully deserve some real Shock & Awe. Don't fret, there's much more Blow-back coming your way unless you can convince us your not full of bit-shit! Myself and the rest here are sick and tired of this greed gone insane by a few Bitcoin Exclusive Types. If you clowns want a war of words you might want to fast reconsider that notion because the result is going to harm yourselves much more than anyone else. I can assure you of that much, and much more.
Also MarkM, please explain how the GPU mined coins are so apt to have these same problems when other expert developers don't concur with your statements at all. In fact quite the opposite as I recall learning, since now Bit-shit (Bitcoin) is growing ever more Centralized, and of course heading in exactly the opposite direction of what Satoshi intended for.
And after all since Satoshi himself owns a full 8% of all Bit-shit coins in existence and are worth near a Billion dollars already, and it would seem the biggest Insta-Mine in all history is Bit-shit (Bitcoin). And by a very, very wide margin I must add!
And all it takes to crash his very own masterpiece is for Satoshi to dump just a small fraction of his coins to possibly fix what has gone so terribly wrong with what I now refer to as Bit-shit (btc), but only because of your own misdeeds MarkM, (your FUD Post here) and because of many other FUD Posts from these other clowns that suddenly got lucky. And are obviously overcome by greed and fraud in this 2nd Gilded Age of Greed & Fraud. A term I coined long ago btw.
I must add it's past time to again go on the offensive. Brace for sudden impact. Blow-back as they say is a real Bitch! And going forward it's Bit-shit that is directly in the line of fire from the most powerful forces to ever walk this earth. Might want to change your tactics MarkM and collaborators. Your side needs all the friends it can muster. Otherwise no matter what the current King of Crypto wont go anywhere near as far as it possibly could. These are merely sage words to consider and reflect on there.
BTW MarkM it's Bitcoin that is most vulnerable of all to a 51% attack, and by an extremely wide margin since these ASIC warehouse mining centers came on line, and all it takes now is the coordination of a few of them with just a couple of giant and vastly over-centralized mining collectives (mega sized pools) to fully and completely attack and crush Bitcoin. But then why would any of them care to do that? Or is that not all precisely correct MarkM? Of course MarkM must know all about that though? And MarkM? You claim others, or maybe yourself are just laying in wait for it to be 'profitable enough' to attack these other cryptos. Well that's great! Now the Fed's, Interpol and the Russian FSB, and other global Intel and law enforcement agencies know exactly maybe to whom to home in on should that ever happen. Gee, it must be terrifying to think one can be disappeared and never as much as be allowed an attorney, much less see the light of any courtroom all for being so very stupid enough to babble pure bullshit and nonsense, and then threaten to attack others assets in the light of a chat-room being constantly monitored by all those just mentioned and more!
MarkM: Quote: "Look at the hashing power and difficulty. If less than half of the hardware in the world that is capable of mining it is mining it then it is way too vulnerable"
What does that even mean? What are you implying? Even Bitcoin was first only mined by CPU only. Then after further development along came GPU mining. And finally ASIC.
As of now both Securecoin and Quark are mighty resistant to any and all ASIC attacks today and for the foreseeable future. Period. And much more resistant than any other Crypto, bar NONE. Period. And by enormous real world margins I must add.
Much the same but to lesser degree are all Scrypt type coins. Their all extremely ASIC Resistant to attacks. Thus vastly superior to Bit-shit (Bitcoin, lol) and all other mere PoW type Crypto-coins that each passing day grow ever more prone to ever more centralization and 51% attacks.
And all we have to do is look around and see that there are zero ASIC Scrypt mining rigs anywhere to know that's a fact about Scrypt Type coins. And that is extremely likely to stay that way for more than plenty long enough time to mine plenty enough to make at least the attacks themselves impossible in the real world since mining Scrypt just keeps growing and growing ever more DECENTRALIZED as time passes. But you didn't touch that thought either MarkM.
Much less the overwhelmingly superior Scrypt Pow/PoS hybrid crypto's already on scene, which are of course vastly more secure against any and all attacks than any mere PoW Only SHA-256 type crypto can ever be, plus even more secure than mere PoW Scrypt coins too. But you didn't mention any of that either did you MarkM?
MarkM: Your belief appears on the surface to be entirely self serving FUD, and without merit.[/b] Yet I see here you are indeed an early adopter? And have been around these parts far longer than almost anyone else? So I have to give credit there that maybe your on to something that others would really like to much better understand? Is that true? Your on to something no one else yet understands? Am I completely mistaken and wrong? And your correct?
As for 51% attacks your statements appear as complete FUD, unless you know something we don't, and all the other developers don't.
Hybrid PoW/PoS crypto types are vastly superior to the PoW only types. With PoS tossed in suddenly any 51% attacks requires the attacker to first acquire 51% of the coins themselves.[/b] But you didn't care to attack that notion either. Instead just vague statements without any elaboration. Seems like FEAR is getting the best of MarkM ? Or is this merely pure FUD in the face of shameless greed gone wild?
Or does MarkM really know something that no one else seemingly does and doesn't care to explain in detail to us mere mortals?
So MarkM, do you care to share your vastly superior intellect with the rest of us as to why you stated what you did? Or are you merely full of FUD?
And by all means share all the reasoning behind your claims?
Or is this exactly what my instincts tell me it is (FUD)?
Plus likely your extreme fears that the founding PoW Crypto types ares going to face a tough future against vastly superior Crypto Types that have already arrived on scene? After all they took everything good about Bitcoin and made themselves even better. But then that's the exact way technology works isn't it MarkM?
Caveat emptor - let the buyer beware!
