Topic: BEWARE! Predatorcoins: A new breed of crypto currency (Read 989 times)

another thread: https://bitcointalksearch.org/topic/predatory-cryptocurrencies-411111

In nature there are peace loving coins that like to climb high rising merkle trees and graze on lush blockchains. And then..there are the other coins, those that lurk in the dark, circle the warm pools of hash and wait for their moment to strike and kill unsuspecting altcoins out of nowhere.

This is a tale of a new breed of chains that could very well take over large parts of todays hash power and feed on the money supply of defenseless coins out there, multiplying, breeding.

Here is where they live and how they hunt:

A predatory chain comes along with the basic equipment to survive in the wild, with hash pools, blockchains and basic transaction types and decentralized, open source code architecture. Now where they are different from others is where it gets interesting: instead of trying to acquire a larger user base, issuance of new coins, hash power or market share, they actively try to interact and dominate other protocols where ever a vulnerability presents itself. Like botnets or viruses they infiltrate a victims computer to install on it's system using it's hash power to secure it's own network. If another instance of crypto currency is detected on the infected machine, the predatory coin gains control of the priv. keys and 'devours' all coins associated with it. Instead of just sending them off to a distant controller, the coins are terminally destroyed by sending them to a terminator address (addresses with provably unspendable outputs). Coins destroyed that way are then replaced by an amount equal in value to the coins destroyed on the infected machine, thus reproducing and spreading to the victims computer, where they are stored in a newly downloaded and installed instance of the Predator Coin client, thus putting the coins in it's possession and command. The transaction hash of the termination transaction serves as proof of burn in order to justify the creation of new coins within the Predator blockchain. As soon as the victim discovers his old coins gone, he will be notified of what has happened and advised on the value and use of his new predatory coins, which he can freely trade on public exchanges or help to spread among his peers, thus raising the value of his own stake, knowing that he is now behind the sharp end of the dagger.
Another way to prey on the activities of the crypto zoo is by hijacking hashing power from pools and solo miners, diverting their power towards the creation of Predator Coins instead of Prey coins, putting them into charge of their corrupted mining efforts and letting them hold on to their carnivorous coins instead.

To maintain its thieving life style predatory coins have to be very adaptive to foreign protocols and to be maintained constantly in order to exploit changing vulnerabilities of their prey. They utilize POW as well as POS to function independently of their hunting success and at the same time provide the option to create new coins by capturing the mining efforts of miners, thus increasing their (unvoluntary) user base and increasing total money supply.

By capturing unguarded systems and preying on the many remaining wallets of long forgotten altchains that have fallen out of favour by their users, replacing them with a new and exciting alternative but also devouring precious coins of active users, they create a huge awareness and marketing effort. Prooving the viability of their concept the value to their share holders will skyrocket and at the same time improve security of the whole crypto currency eco system.

Have you seen one of them in the wild yet!?