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Author Topic: GHASH.IO + DISCUS FISH >>>51% Possible to death bitcoin?  (Read 2195 times)
ThomasCrowne
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July 02, 2014, 05:52:25 AM
 #21

Jesus man, the ghash panic was all ready over the top. Why are we looking for things to scare ourselves with? Just stop all ready.
Hey man...gotta keep the FUDsicles fresh dude!  :p

cenixentor (OP)
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July 02, 2014, 08:40:05 AM
 #22

Jesus man, the ghash panic was all ready over the top. Why are we looking for things to scare ourselves with? Just stop all ready.
Hey man...gotta keep the FUDsicles fresh dude!  :p

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July 02, 2014, 08:49:25 AM
 #23

I think it would be very easy to kill bitcoin and lose all our money as the currency... Cry Cry

https://i.imgur.com/LwVr4Tg.png

http://www.theguardian.com/technology/2014/jun/16/bitcoin-currency-destroyed-51-attack-ghash-io

welcome noob  Smiley

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July 02, 2014, 08:51:10 AM
 #24

Doing a 51% attack is like shooting yourself in the face. You get absolutely nothing out of it. If you control enough hashing power to perform that, why destroy the very thing that's making you money?

By denying every other miner any profits you can almost double the bitcoin income. This will make other miners give up, and then you can gradually turn off some of the miners and save cost. The risk for this is already very high but it doesn't seem to influenced the price. It's hard to tell if this is because the majority is in denial about it or just doesn't care. If it's the latter it means it would be very profitable.
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July 02, 2014, 08:51:29 AM
 #25

Yet Theymos decided to remove restrictions.  Cheesy

Doing a 51% attack is like shooting yourself in the face. You get absolutely nothing out of it. If you control enough hashing power to perform that, why destroy the very thing that's making you money?

By denying every other miner any profits you can almost double the bitcoin income. This will make other miners give up, and then you can gradually turn off some of the miners and save cost. The risk for this is already very high but it doesn't seem to influenced the price. It's hard to tell if this is because the majority is in denial about it or just doesn't care. If it's the latter it means it would be very profitable.
In other words, you would collapse the market and earn $00.  Wink

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haploid23
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July 02, 2014, 09:06:41 AM
 #26

OP, welcome to last month. You missed the drama about this, is that why you bring it up again?

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July 02, 2014, 09:30:30 AM
 #27

In other words, you would collapse the market and earn $00.  Wink

I agree that those are completely different words, with a completely different meaning from what I said.
DannyElfman
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July 03, 2014, 04:38:30 AM
 #28

-snip-
Doing a 51% attack is like shooting yourself in the face. You get absolutely nothing out of it. If you control enough hashing power to perform that, why destroy the very thing that's making you money?

By denying every other miner any profits you can almost double the bitcoin income. This will make other miners give up, and then you can gradually turn off some of the miners and save cost. The risk for this is already very high but it doesn't seem to influenced the price. It's hard to tell if this is because the majority is in denial about it or just doesn't care. If it's the latter it means it would be very profitable.
In other words, you would collapse the market and earn $00.  Wink
What people are afraid of is that an attacker would have something other then a financial motivation to launch an attack. 

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CoolBliss
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July 07, 2014, 09:01:17 AM
 #29

Very few facts in the Guardian article
cenixentor (OP)
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July 08, 2014, 10:39:05 AM
 #30

UPPPP
DannyElfman
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July 09, 2014, 02:52:55 AM
 #31

Very few facts in the Guardian article
I don't think the reporters at the guardian truly understand bitcoin at this level to be able to accurately report it in a way that the average person could understand

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