The early days of Litecoin followed a very similar path as YACoin is doing right now. A CPU only coin is a very good idea because it makes mining for most of the world with a computer a no brainer. The designer's intentions are genuine but we also have to take into account the realities of the world we live in. Early Litecoin adoption by botnet operators made them all rich. And truth be told, they are once again glad a CPU only coin is back in play.
Next up for YAC will be a discussion of how decentralized the network is when large groups own the majority of hashing power. Resistance to 51% attacks is limited if non existent. Will the community step up? Do the majority of new "crypto-bugs" even know what any of this means?
The LTC Community fought at least 2 such attacks and won (1st by Luke-Jr & 2nd by BCX) No other coin has survived even one (including Bitcoin - there have been worries with pools getting too big, but no planned attacks to take the currency down). Litecoin also owes a little bit of gratitude to Solid:facepalm:Coin for building the Reaper protocol. While their intention was yet again to take down Litecoin by turning it into a GPU coin, they actually strengthened the base and helped to make it a stronger DE-centralized network. Botnets using CPU power lost their strong advantage over miners armed with GPUs.
While we all love the idea of a CPU only coin at what cost do we see if it is worth trying AGAIN.
One thing is for sure... The Botnets aren't complaining.
you make valid and solid points, but therz always a catch, m speciality is networks, but the little i know about crypto coins shows that with current implementations, its either you go the cpu way and deal with botnets or you go gpu and hash it out with 100000 people who have this.
http://www.btcpedia.com/list-of-bitcoin-mining-pools/i think the community will watch this coin beacuse it had a fair launch and it is still not too late to jump on the train, and looking at the difficulty figures i think someone will compile cgminer for this within a month.
I have to agree with you on this one. I've been hearing quite a chatter about YAC. more than usual. If this trend continues, it might well be the 3rd coin in line (or 4th probably). People should also get used to the idea that, no matter the implementation, there are very rich people with a lot of hardware, compared to you, they mine like they breath. anyways.... there's always the trading
to trade, you don't need much hardware
most phones today will do the job. And if you trade well, you might just get more than the miners.... just saying...... lots of options