Topic: 2013-06-11 The 51% Attack – What Bitcoin Can Learn From Alt-coin Experiments (Read 1174 times)
June 12, 2013, 07:10:53 AM
Interesting article. The thing I find most surprising about this attack is that far from killing the coin, it seems to have helped it. Both price and hashrate are way up. So perhaps a 51% attack isn't always as destructive as people think.
June 12, 2013, 06:29:23 AM
This is why I'll tell anyone who will listen that keeping funds (any funds, Bitcoin, Litecoin, etc.) on an exchange that also deals with a currency other than Bitcoin is taking a big risk.
Your Bitcoins Are Not Safe At Alt-coin Exchanges
- http://www.bitcoinmoney.com/post/6231627
Thats a really good point. Thanks for that article. Your Bitcoins Are Not Safe At Alt-coin Exchanges
- http://www.bitcoinmoney.com/post/6231627
June 12, 2013, 03:03:28 AM
2013-06-11, not 2013-6-11
June 11, 2013, 10:54:41 PM
June 11, 2013, 06:59:54 PM
DATE NEED FIXING!
June 11, 2013, 03:45:19 PM
Quote
Btc-e, one of the largest BTC/FTC exchanges, increased the confirmation requirement to 100 blocks (over 4 hours) completely countering Feathercoin’s quick confirmation advantage.
This is why I'll tell anyone who will listen that keeping funds (any funds, Bitcoin, Litecoin, etc.) on an exchange that also deals with a currency other than Bitcoin is taking a big risk.
Your Bitcoins Are Not Safe At Alt-coin Exchanges
- http://www.bitcoinmoney.com/post/6231627
Yep, and I'd generalize that insightful article and your statement even further: BTC are not safe anywhere whose private keys you don't control. Ultimately, the "altcoin attack" is just one risk among a potentially infinite list of catastrophes involving exchanges and hosted wallets, be they BTC-only or multicoin. Mirroring goldbug wisdom: if you don't hold your BTC, you don't own your BTC.
June 11, 2013, 03:28:15 PM
Quote
Btc-e, one of the largest BTC/FTC exchanges, increased the confirmation requirement to 100 blocks (over 4 hours) completely countering Feathercoin’s quick confirmation advantage.
This is why I'll tell anyone who will listen that keeping funds (any funds, Bitcoin, Litecoin, etc.) on an exchange that also deals with a currency other than Bitcoin is taking a big risk.
Your Bitcoins Are Not Safe At Alt-coin Exchanges
- http://www.bitcoinmoney.com/post/6231627
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