EDITED 3/21
If you would like to contribute to the bounty anonymously, email [email protected].
Donations:
$500 knowledgeable
$500 anonymous5050
$500 lophie
Total raised: $1500 of target $4000 needed for attack. Litecoin value down 33% since this thread started. Litecoin network hash power down 43%.
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To encourage a demonstration of the insecurity of the litecoin network and the ridiculousness of its $10mil market cap, I will send $500 worth of bitcoin to whoever shuts down the litecoin network for 4 hours with a 51% attack. I will escrow. Please add to this bounty if you would benefit, as $500 is not enough.
My time is valuable, and I lose it every time I have to explain to a friend why they should not invest in litecoin. They are buying it because they don't know any better and hoping it will go up because bitcoin did, because it is currently "going up", and because its price per unit is lower.
They don't know that litecoin is accepted at <20 merchants and that this has something to do with the value of a cryptocurrency
They don't realize that the litecoin client hasn't been updated since version .62 and that it hardly has any developers
They don't understand that one of litecoin's (tiny) changes to the bitcoin code is a negative contribution that downgrades the network security by making it vulnerable to control by a single botnet or specialized hardware. Some of them think litecoin is more secure since it didn't have a chain fork. Unfortunately, the last threatened attack on litecoin was not executed by BitcoinEXpress, who later said he loves litecoin and wanted to help it.
https://bitcointalksearch.org/topic/deleted-94912
