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[googlemaster1]

as far I remeber there was a peak of about 50Ghs at the beginning of march...

they should have airdropped some video cards

Hahahahahaah THIS.

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[r0ach]

Was that guy really trying to claim Dogecoin was created as a way to extract wealth from people's pockets?  I mined it on day 1 and literally nobody was interested in mining it, so the difficulty was absolutely nothing.  You'd think a "scam" designed to make as much money as possible would have a lot of hash power on it.

[peterlustig]

Any CPU, GPU or even FPGA coin is insanely vulnerable.

Even with scrypt ASICs the mentality of scrypt miners might be such that no scrypt coin will be secure, since scrypt miners seem mostly to be scammers looking not to secure any blockchains but, rather, to jump around in a kind of bait-and-switch scam, fooling investors into imagining this that or the other scrypt coin is secure (due to its seeming to have hashing power securing it) while really none of that hashing power actually intends to secure the chain at all, rather it is basically eliciting bribes "how much will you pay me to abandon this chain and go mine your latest scam" kind of thing...

Maybe though if litecoin and DOGE adapt so as to be able to be merged together, one or both might manage to retain enough of the scrypt hashing power to eventually become secure?

-MarkM-

Every bigger government agency or bank is able to destroy Bitcoin by building a shitton of ASICs.

[Lloydie]

May BCX's children be born without assholes.

[dewdeded]

I have a question. Some handicaped like this, does he feal embarassed after failing so hard once again or does he not realise this, in his dream world?

I am sorry for his family, who have to deal with him in RL.

[CatalystCoin]

It will need some time for you evangelists to learn that bitcoin is digital gold and not digital money.

Fyrstikken (cryptorush) would call it a commodity: http://www.youtube.com/watch?v=8q9DvydzAsY

Quote: "Bitcoin worshipers will never go to heaven " LOL

Price trending to the cost of mining it.

Use of malicious negative feedback to suppress free speech brings shame on the bitcoin community.

Frystikken is an idiot.

But that doesnt disprove my point. Its simply plain logic, that a hard cap coin can not be a currency. It IS a ponzi and risky investment.
Money works totally different from Bitcoins. As said, it is not wrong to invest in bitcoins, but what's wrong is to confuse gold and money.

So gold is a ponzi scheme? I'm confused. I'm also confused about what happened here. Auroracoin is dead now? Was it actually a scam or did somebody just destroy it for kicks and giggles or for their own personal motives? Also, how was it so easy to kill the coin? Doesn't this mean every other low hashrate scrypt coin is vulnerable? What about scrypt-N and PoS coins? Thanks in advance for helpful replies, I'm just looking for information and trying to understand how things are shaping up in this dark world of cryptocurrencies.

Since when was there a hard cap on gold?

[markm]

Any CPU, GPU or even FPGA coin is insanely vulnerable.

Even with scrypt ASICs the mentality of scrypt miners might be such that no scrypt coin will be secure, since scrypt miners seem mostly to be scammers looking not to secure any blockchains but, rather, to jump around in a kind of bait-and-switch scam, fooling investors into imagining this that or the other scrypt coin is secure (due to its seeming to have hashing power securing it) while really none of that hashing power actually intends to secure the chain at all, rather it is basically eliciting bribes "how much will you pay me to abandon this chain and go mine your latest scam" kind of thing...

Maybe though if litecoin and DOGE adapt so as to be able to be merged together, one or both might manage to retain enough of the scrypt hashing power to eventually become secure?

-MarkM-

Every bigger government agency or bank is able to destroy Bitcoin by building a shitton of ASICs.

Or any other coin, yes, even the purportedly ASIC-proof ones.

That is why it is so important to focus, to get such a massive amount of ASICs deployed that even a government would find it hard to deploy enough to attack it.

-MarkM-

[Zimbabwecoin]

I am not sure about this, "Every bigger government agency or bank is able to destroy Bitcoin by building a shitton of ASICs." but, I would think that the Chinese government could pull it off easily.

[micryon]

How many GPUs do you need to make solo mining of e.g. litecoin or DOGE worthwhile?

Sorry to clarify, when i say solo mining, i mean mining on an independent node.  Not necessarily literally solo mining.

So each pool would count as a separate "solo" node.  And thus the more distributed the pools are, the better protection there is.  And the more choice people have to distribute across these pools, instead of large ASIC farming operations (which we know exists), the better.

[markm]

That is what p2pool is for.

Hence the wondering which coins have the most p2pool nodes running.

-MarkM-

[micryon]

Every bigger government agency or bank is able to destroy Bitcoin by building a shitton of ASICs.

Ultimately we will be constrained and limited by silicon wafer production and manufacturing capacity (TSMC/IBM/That AMD spinoff).  

However, the difference between SHA2 vs SCRYPT is that per square mm, you can produce WAY more hash power on SHA2 than on scrypt (or scrypt N).  

Which is why in theory it will be MUCH harder to do this with SCRYPT than on SHA2... of course someone would have to do a real back of the envelope calculation on what the wafer capacity is per year to really say for sure..

[marcelus]

It will need some time for you evangelists to learn that bitcoin is digital gold and not digital money.

Fyrstikken (cryptorush) would call it a commodity: http://www.youtube.com/watch?v=8q9DvydzAsY

Quote: "Bitcoin worshipers will never go to heaven " LOL

Price trending to the cost of mining it.

Use of malicious negative feedback to suppress free speech brings shame on the bitcoin community.

Frystikken is an idiot.

But that doesnt disprove my point. Its simply plain logic, that a hard cap coin can not be a currency. It IS a ponzi and risky investment.
Money works totally different from Bitcoins. As said, it is not wrong to invest in bitcoins, but what's wrong is to confuse gold and money.

So gold is a ponzi scheme? I'm confused. I'm also confused about what happened here. Auroracoin is dead now? Was it actually a scam or did somebody just destroy it for kicks and giggles or for their own personal motives? Also, how was it so easy to kill the coin? Doesn't this mean every other low hashrate scrypt coin is vulnerable? What about scrypt-N and PoS coins? Thanks in advance for helpful replies, I'm just looking for information and trying to understand how things are shaping up in this dark world of cryptocurrencies.

Since when was there a hard cap on gold?

A hard cap coin could never be a currency back in the day when we didn't have blockchains and programmable money. But now we do.

[cryptohunter]

I am not sure about this, "Every bigger government agency or bank is able to destroy Bitcoin by building a shitton of ASICs." but, I would think that the Chinese government could pull it off easily.

What about pow/pos coins simply having more hash is not enough to destroy the coin then is it?  Is the old chestnut that you need 51% of the coins also to attack it true?  i read something on another thread by someone who seemed to know what he was talking about saying that you do not need 51% of the coins at all to attack a pow+pos coin?

I know pos coins bring their own set of issues but do they add a layer of protection or not? 

How many ways are there to attack the chain... 51% forcing a fork of the chain,  timewarp ?,  what other weaknesses do these coins have?

[gerdab]

then? it died this bastard? or it still breathing? (i've lost 2 BTC on AUR) 

[Omnivion]

then? it died this bastard? or it still breathing? (i've lost 2 BTC on AUR) 

At the moment, the coin is perfectly fine.  This thread is basically a train wreck.

It's main risk now is that the misinformation spread will lower it's value so that it will be susceptible to a real attack.  The coin simply needs to regain some confidence and it should be fine.  There's no guarantee, but assuming it recovers there is a lot of potential.

[Spoetnik]

then? it died this bastard? or it still breathing? (i've lost 2 BTC on AUR)  

At the moment, the coin is perfectly fine.  This thread is basically a train wreck.

It's main risk now is that the misinformation spread will lower it's value so that it will be susceptible to a real attack.  The coin simply needs to regain some confidence and it should be fine.  There's no guarantee, but assuming it recovers there is a lot of potential.

lol hilarious you are delusional.. your saying a coin that had pretty much the largest premine in all of Altcoin history "will be just fine" ?
in other words a lot of people will see the scam as what it is.. it's going no where. besides why should i care about supporting a premined clone for Iceland ?
coins get posted om exchanges the price starts out high then it tanks and mining profitability dies off and people wander away.

sorry but most of you don't know how this all works and have no clue what patterns repeat endlessly..
a lot of potential my god damn ass lol
gimme a break

dumb little contrarians deserve to lose their money and don't i say i never warned you gullible scammer puppets..

reality is far more profitable then bs propaganda

so you registered 4 days ago and have made 4 comments ? hmmmm
new user scam pumper / ponzi defender ? shell account puppet no. 837465665628478278472874872487 here at Bitcointalk forums lol

[Omnivion]

then? it died this bastard? or it still breathing? (i've lost 2 BTC on AUR)  

At the moment, the coin is perfectly fine.  This thread is basically a train wreck.

It's main risk now is that the misinformation spread will lower it's value so that it will be susceptible to a real attack.  The coin simply needs to regain some confidence and it should be fine.  There's no guarantee, but assuming it recovers there is a lot of potential.

lol hilarious you are delusional.. your saying a coin that had pretty much the largest premine in all of Altcoin history "will be just fine" ?
in other words a lot of people will see the scam as what it is.. it's going no where. besides why should i care about supporting a premined clone for Iceland ?
coins get posted om exchanges the price starts out high then it tanks and mining profitability dies off and people wander away.

sorry but most of you don't know how this all works and have no clue what patterns repeat endlessly..
a lot of potential my god damn ass lol
gimme a break

dumb little contrarians deserve to lose their money and don't i say i never warned you gullible scammer puppets..

reality is far more profitable then bs propaganda

so you registered 4 days ago and have made 4 comments ? hmmmm
new user scam pumper / ponzi defender ? shell account puppet no. 837465665628478278472874872487 here at Bitcointalk forums lol

I'm not sure this is even worth replying to.

Everyone was told it was 50% premine up front, that's the entire point of the coin.  I don't think you know what the word "scam" means.  It's only a scam if the developer is stealing coins from the premines, and most signs point to that not having happened to this point.  As it is, it's perfectly clear how the coin is set up.

No one is being forced to spend any money buying coins or mining this currency.  No one is forced to speculate, though they may choose to if they would like.  Personally, while it's possible the coin declines in value, as I said, I think the potential is worth it.  If you don't, then don't touch it, simple as that.

But like I said, this thread is one giant FUD-filled derail, so continue to so if you'd like.

So like I said, at this point in time, the coin is fine.

[andyatcrux]

then? it died this bastard? or it still breathing? (i've lost 2 BTC on AUR)  

At the moment, the coin is perfectly fine.  This thread is basically a train wreck.

It's main risk now is that the misinformation spread will lower it's value so that it will be susceptible to a real attack.  The coin simply needs to regain some confidence and it should be fine.  There's no guarantee, but assuming it recovers there is a lot of potential.

lol hilarious you are delusional.. your saying a coin that had pretty much the largest premine in all of Altcoin history "will be just fine" ?
in other words a lot of people will see the scam as what it is.. it's going no where. besides why should i care about supporting a premined clone for Iceland ?
coins get posted om exchanges the price starts out high then it tanks and mining profitability dies off and people wander away.

sorry but most of you don't know how this all works and have no clue what patterns repeat endlessly..
a lot of potential my god damn ass lol
gimme a break

dumb little contrarians deserve to lose their money and don't i say i never warned you gullible scammer puppets..

reality is far more profitable then bs propaganda

so you registered 4 days ago and have made 4 comments ? hmmmm
new user scam pumper / ponzi defender ? shell account puppet no. 837465665628478278472874872487 here at Bitcointalk forums lol

I am not sure that this is the correct thread for you to be debating the merits/lack thereof of AUR. You can go to BCX's other thread for that. This is about whether or not a 51% attack occurred and was successful. Many pools did seem to be reporting various network diffs and the existing blocks but now all seem to be in sync. I am not sure what the hell that all means but it certainly looks better than it did. Is it possible we are looking at a failed attack? Even so is there actual damage done? Given that BCX has not chimed in I am starting to think there is now no news, but I await a post to see what is claimed next. The coin does appear to be fine right now. I wonder if a black hat tried to attack AUR I wonder if they would be too embarrassed to take credit.

[TheFridge]

then? it died this bastard? or it still breathing? (i've lost 2 BTC on AUR)  

At the moment, the coin is perfectly fine.  This thread is basically a train wreck.

It's main risk now is that the misinformation spread will lower it's value so that it will be susceptible to a real attack.  The coin simply needs to regain some confidence and it should be fine.  There's no guarantee, but assuming it recovers there is a lot of potential.

so you registered 4 days ago and have made 4 comments ? hmmmm
new user scam pumper / ponzi defender ? shell account puppet no. 837465665628478278472874872487 here at Bitcointalk forums lol

Not everybody feels the need to spend their life trolling a shitty message board mate.

[CryptoClub]

I am not sure about this, "Every bigger government agency or bank is able to destroy Bitcoin by building a shitton of ASICs." but, I would think that the Chinese government could pull it off easily.

What about pow/pos coins simply having more hash is not enough to destroy the coin then is it?  Is the old chestnut that you need 51% of the coins also to attack it true?  i read something on another thread by someone who seemed to know what he was talking about saying that you do not need 51% of the coins at all to attack a pow+pos coin?

I know pos coins bring their own set of issues but do they add a layer of protection or not? 

How many ways are there to attack the chain... 51% forcing a fork of the chain,  timewarp ?,  what other weaknesses do these coins have?

I would be very curious about a clarification on that as well. My understanding is that you do need 51% of the coins, but I am not a coin coder and more of an enthusiast, so I could be wrong about that. The new coins like Blackcoin/Mintcoin seem really interesting if they are ASIC invincible and immune to 51% attacks, once in POS phase like they are now.. while oddly with Blackcoin, also having vast amounts of hashing power through indirect mining. (Not to protect Blackcoin, but the rumor is the beta tests for the Black Hole forked two coins some time ago, Netcoin and Reddcoin? Just what I heard, not positive if this is true or just made up) ...

 On a side note, the BC indirect mining pool did just come online for real this weekend with a lot of hashing power.