Topic: Anyone with a lot of MH/s want to fork the TerraCoin chain? (Read 4162 times)

Assuming the fork simply left addresses alone, Bitcoin would go to the Bitcoin clone of the terra address. In practice, yes, lost coins.

Well,

In the meantime,

Will someone please set up a merged mining pool?

http://poolserverj.org/ supports merged mining.

If I don't see one go up in a week or so I'll pay a pool operator to put one up probably.

Lol @ luke jr and his 51% attack attempts.

I don't particularly have any incentive to respond to the scammers that I foiled, given the significant cost (in time) to do so. Nor do I have any financial loss or care particularly if people want to stop mining on Eligius because they were in on the scam (or any other reason). I will clarify that Eligius miners were not adversely impacted by this, and that the CLC mining involved only adding data that I hashed myself to my own transactions; and I was careful to ensure that nobody lost any confirmed CLC. If any Eligius miner wishes to inquire further, I will take the time to answer specific to-the-point questions which are signmessage'd with an active (ie, has mined in the past week) Eligius payout address that has earned at least 2000 TBC (5.36870912 BTC) over all time.

Eligius is a Bitcoin mining pool and I am, as always, committed to doing my best to contribute to and protect the Bitcoin ecosystem. Pyramid schemes built upon forks of the Bitcoin software ultimately discredit and harm Bitcoin's reputation. I hope CoiledCoin will be the last of such scams now that it is clear there are people (not just myself) willing to stand up to them. Namecoin alone demonstrates a legitimate, innovative use of Bitcoin technology, and while I don't personally agree with their ideals/goals, I see it as a good thing for Bitcoin and worth cooperating with.

cablepair, regarding Devcoin, I don't see any reason to treat it as different from any other scamcoin. I will at least discuss it with you on IRC before doing anything other than mining it with the almost-unmodified (zero txn fee, zero post-maturity delay) Devcoin client.

P.S. While the opposition seem to be very venemous and vocal, I have gotten a lot more positive support from a head-count perspective.

And if I remember correctly, since sending from one chain to another is not possible, the coins can be recovered by doing some hacks on the wallet.

Actually I thought about it and no- the coins are not lost. If you sent Bitcoin to a Terracoin address, then the private key of the owner of the terracoin address you INTENDED to send to, will be the same private key as the Bitcoin address you did send to and vice versa. So basically you may have to ask nice, but the intended recipient on either chain will have the private key for the corresponding address in the other chain. So, no- they aren't lost coins.

+1 I think this was a terrible idea.  What happens if we send bitcoin to terracoin addy?  Lost coins?

Someone will be motivated to come up with a cockroach of a blockchain.

If we don't nuke everything, the poor cockroach will not be identified. Its creator will proclaim "I have made a cockroach."

Outsiders will not be able to tell a cockroach from terracoin. The noble cockroach will be forgotten. 

Really. Come up with a way to prevent 51% attacks of nascent blockchains and preserve all the features of the bitcoin POW scheme. That would be innovation! Checkpointing is only a workaround.

In this regard attacking all nascent chains would provide an evolutionary pressure to create a decent solution...

I think there's nothing wrong with people trying something new.

Starting a crytocurrency is like grounding a new town on a piece of wild and pristine land.  When someone started TRC, they simply plopped down a sign saying "free land", and people who adopted TRC started pitching tents there.  Whether or not this piece of land will develop into a golden city will depend on the people who invested in TRC.  Or it could just turn into a ghostown in a month.

I don't think nuking a tent city is something even warranted unless we feel a great threat, which I don't think we should.

Besides, can't you guys just take it as an education project?

It's not stupid, but here's the thing- it's based on Bitcoin, so already know how to 51% it. There is no difference in the protocol at this point. This sort of 51% has been done before, so nothing would be learned by that.

Second: you make a valid point about testing the robustness- but couldn't you guys wait until maybe we were like, "Hey, we came up with a cool idea to protect the coin- can you try 51% to test it?"

The coin has been out since the 28th of October. Thats like a week. Can we not be allowed enough time to come up with something?

We're mostly novice programers here. I understand the value of testing the robustness of something, but if we can use the analogy of a bank: your robbing the vault when a) nothing of value is inside and b) the vault hasn't even been fully built yet.

+1 I think this was a terrible idea.  What happens if we send bitcoin to terracoin addy?  Lost coins?

It's not so fair if we see them building their own club house and we just go burn it down. :-(

Surely running a 51% is only testing the coins robustness. It is not stupid to test coins in this way but sensible in my opinion.

How stupid one must be to not realise he's dealing with TRC, not BTC, or the oppossite case? Should we really protect such people?

Population average IQ is already lowest ever. For the sake of healthy specie, we should remove any and all safety measures, now! 

Surely running a 51% is only testing the coins robustness. It is not stupid to test coins in this way but sensible in my opinion.

We are here because we are interested in alternative cryptocurrencies. We want them to evolve into something better than what is already available. We are all watching the Darwinian process of cryptocurrencies. Launching tests on coins like 51% helps weed out the weak coins. If a coin can survive a 51% attack then we can all be reassured by that fact. If it cannot then it was not meant to be.

I have 2.4Mh to contribute.