Bitcoin Forum
December 09, 2016, 07:38:00 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Poll
Question: What do you think Litecoin price will be five years from now?
0 - 20 (19.2%)
<= 0.003 BTC - 18 (17.3%)
~ 0.01 BTC - 13 (12.5%)
>= 0.03 BTC - 15 (14.4%)
>= 0.25 BTC - 38 (36.5%)
Total Voters: 104

Pages: « 1 [2]  All
  Print  
Author Topic: [POLL] - What is the ultimate price of Litecoin?  (Read 4308 times)
jjiimm_64
Legendary
*
Offline Offline

Activity: 1680


View Profile
November 10, 2011, 05:04:16 AM
 #21


because of the faster confirmations of litecoin, it may be adopted easier for purchases

1jimbitm6hAKTjKX4qurCNQubbnk2YsFw
1481312280
Hero Member
*
Offline Offline

Posts: 1481312280

View Profile Personal Message (Offline)

Ignore
1481312280
Reply with quote  #2

1481312280
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481312280
Hero Member
*
Offline Offline

Posts: 1481312280

View Profile Personal Message (Offline)

Ignore
1481312280
Reply with quote  #2

1481312280
Report to moderator
1481312280
Hero Member
*
Offline Offline

Posts: 1481312280

View Profile Personal Message (Offline)

Ignore
1481312280
Reply with quote  #2

1481312280
Report to moderator
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
November 10, 2011, 05:23:56 AM
 #22

Doubtful.  I thought the point of Litecoin was for small purchases.  No need for confirmation is small purchases.  A non-finney double spend is essentially impossible to pull off if the seller simply waits 60 seconds or so.

A seller accepting 0-confirm sales is vulnerable to a Finney attack but given the staggering amount of hashing power required to even attempt that nobody is going to spend $80,000 to build a hashing farm to double spend a 1BTC copy of angry birds.
Spacy
Full Member
***
Offline Offline

Activity: 168


View Profile
November 10, 2011, 10:25:41 PM
 #23

A seller accepting 0-confirm sales is vulnerable to a Finney attack but given the staggering amount of hashing power required to even attempt that nobody is going to spend $80,000 to build a hashing farm to double spend a 1BTC copy of angry birds.

No, but they will transfer hundreds of thousands of LTC into exchanges, sell it and withdraw, then rewrite the chain. But true, it's not worth for small business amounts to wait hours for lot of confirmations.
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218


Gerald Davis


View Profile
November 10, 2011, 10:34:06 PM
 #24

A seller accepting 0-confirm sales is vulnerable to a Finney attack but given the staggering amount of hashing power required to even attempt that nobody is going to spend $80,000 to build a hashing farm to double spend a 1BTC copy of angry birds.

No, but they will transfer hundreds of thousands of LTC into exchanges, sell it and withdraw, then rewrite the chain. But true, it's not worth for small business amounts to wait hours for lot of confirmations.

Right which is why no exchange allows you to withdraw until you have 1 (possibly more) confirmations.

Really the only transactions which are vulnerable to Finney attack are
a) very large in value
b) irrevocable and instantaneous.
c) doesn't require 1 confirmation.

I don't know of any transaction like that which exists.  A business just need to evaluate their risks.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!