ATTENTION MINERS OF COINOTRON 5-20-14, 51% Attack Nearing Possibility

TheMage

hero member

Activity: 812

Merit: 1000

Litecoin Association Director

Quote from: SecureErase on May 21, 2014, 11:41:32 PM

I see on Reddit that some LTC people are moving to Peercoin because of the 51% risk and ASIC mining issues.

I haven't looked into Peercoin much, but they claim security against 51% because of their proof of work / proof of stake approach whereby you would have to hold 51% of the coins not mining power to threaten the currency.

Anyone experienced in Peercoin?

I'd like to see which "people" are claiming this......I havent seen one post about it and if it is, they are peercoin folks spreading FUD.

FYI coinotron shed a ton of GH from the network today.

SecureErase

member

Activity: 83

Merit: 10

I see on Reddit that some LTC people are moving to Peercoin because of the 51% risk and ASIC mining issues.

I haven't looked into Peercoin much, but they claim security against 51% because of their proof of work / proof of stake approach whereby you would have to hold 51% of the coins not mining power to threaten the currency.

Anyone experienced in Peercoin?

lyth0s

legendary

Activity: 1260

Merit: 1000

World Class Cryptonaire

Looks like enough miners moved to lower the hashrate at coinotron to 43% currently: https://www.litecoinpool.org/pools

TheCoinFinder

legendary

Activity: 938

Merit: 1001

In response to the current coinotron situation, I have set up a "ASIC" friendly pool. at http://www.hashharder.com/scrypt/litecoin-asic

The share difficultiies are set to handle much higher amounts, so please do not mine here unless you have a high hashrate.

If I can get people to use this service, I will reduce the fees on the page.

Also, the site doesn't require registration - and it doesn't keep the coins. It pays out on block maturity direct to the miner's address.

Mining is as simple as pointing your miner at

Code:

stratum+tcp://www.hashharder.com:9910 -u  -p Anything

The stats and payouts are available on the website.

grosminer

hero member

Activity: 718

Merit: 500

For those who (still) mine LTC @ coinotron.. switch your miners to other pools

+ get 0% fees!

OhMyCoin

member

Activity: 117

Merit: 10

Long live Bitcoin.

CEX and Ghash announce
"Due to the Litecoin hashrate increase on the Coinotron mining pool, the cryptocurrency silver is now under the 51% threat.
Ghash.IO mining pool welcomes all the Litecoin miners to join our pool with the 0% pool fee and enjoy unique advantage of shared credentials with CEX.IO Bitcoin Crypto Exchange.

We encourage media resources and Litecoin adherents to help us in spreading the following message and save Litecoin together.”

x8008

full member

Activity: 154

Merit: 100

bump

TheMage

hero member

Activity: 812

Merit: 1000

Litecoin Association Director

I fully support this thread and urge people to join other pools!

lyth0s

legendary

Activity: 1260

Merit: 1000

World Class Cryptonaire

Coinotron is approaching 51% of the total LTC network hashrate. I ask that you all kindly LEAVE coinotron for the time being as the pool operator seems to be incompetent to solve this issue. As most of you are probably holding on to at least some LTC, it is for your own sake that you should leave coinotron, avoid the possibility of a 51% attack and the devaluation of your Litecoins.

See here: https://www.litecoinpool.org/pools

Other pools that you can use:

http://give-me-coins.com/ 0% Fees!!
https://www.wemineltc.com/ 0% Fees!!
https://www.litecoinpool.org/
http://clevermining.com
http://multipool.us

Topic: ATTENTION MINERS OF COINOTRON 5-20-14, 51% Attack Nearing Possibility (Read 756 times)