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Hydroponica

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Quote from: FiiNALiZE on June 10, 2013, 09:28:47 AM

Please don't say BTC can't get 51%, of course it could.

If the government or some really rich person dropped a few million into ASIC's, Bitcoin would be done.

Government, sure. Some rich guy? Pretty sure, they don't give a fuck about bitcoin...Because they are rich Roll Eyes

Not to mention, you'd need 1000's of high end ASIC's....If you know where to buy 1000's of high end ASICS, please, let me know. I want one.

litejar

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TruCoin's gold bar usb asic's must be shipping?

smoothie

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LEALANA Bitcoin Grim Reaper

Do your research guys. The OP is the same guy who faked LTC attacks in fall of 2012 then got exposed, then doxxed, outted for his bullshit lies, then ran away.

Anyone who was around then can attest to this.

Grin

mebezac

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Quote from: erk on June 10, 2013, 09:34:54 AM

Quote from: FiiNALiZE on June 10, 2013, 09:28:47 AM

Please don't say BTC can't get 51%, of course it could.

If the government or some really rich person dropped a few million into ASIC's, Bitcoin would be done.

And the public would cry that it was an act of terrorism.

And the government would blame it on *Insert Country Name Here* and subsequently declare war on them. Also, they would subpoena the phone and computer records of all Bitcoin users.

erk

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Quote from: FiiNALiZE on June 10, 2013, 09:28:47 AM

Please don't say BTC can't get 51%, of course it could.

If the government or some really rich person dropped a few million into ASIC's, Bitcoin would be done.

And the public would cry that it was an act of terrorism.

I think if any authorities or students looking for a PhD paper idea, are reading this thread they should consider as an exorcise to investigate the attack on FTC, and develop the tools and techniques for tracking down the offender just in case your country decides to adopt a crypto currency down the track.

mebezac

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Quote from: seleme on June 10, 2013, 09:22:41 AM

I doubt there are asics out there but some fpgas are most probably already in action.

I agree, I think fpgas will come before ASICs, and are probably already out there in the wild. Also, if anyone has scrypt ASICs, it would obviously be Trucoin lol https://bitcointalksearch.org/topic/bitbar-asic-project-included-inside-each-bitbar-usb-wallet-drive-222962

FiiNALiZE

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CryptoTalk.Org - Get Paid for every Post!

Please don't say BTC can't get 51%, of course it could.

If the government or some really rich person dropped a few million into ASIC's, Bitcoin would be done.

seleme

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Duelbits.com

I doubt there are asics out there but some fpgas are most probably already in action.

Prelude

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Right now, unknown is Coinotron.

At least that's what I'm thinking.

12gaFacelift

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its always good to have p2pool in backup...never know what happen when you sleep Tongue

Eastwind

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Quote from: Hydroponica on June 10, 2013, 07:27:44 AM

Quote from: mr_random on June 10, 2013, 07:23:59 AM

I've always wondered something about 51% attacks. Take Litecoin as an example - 18gh network hash at present.

Does one need 9gh to 51% attack it or 18gh? The reason being, if an entity attacks with 9gh, that makes the total network hash 27gh and of course 9 is no longer half of 27.

So does an entity need 9gh to attack with success, or is it 18gh?

You need to have 18GH/s, + a little more, to get 51%. Match and beat, current hashrate, control 51% of the total hashing power

If they can take out a few pools, then they need less than 18GH/s. My mining are in several pools just in case some of them are down.

rbdrbd

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Quote from: mullick on June 10, 2013, 03:15:49 AM

Quote from: ?? on ??

Quote from: mullick on June 10, 2013, 03:08:53 AM

Would they not still have to control 51% of the currency?

A 51% attack has zero to do with the amount of currency you hold, it is the hashrate.

~BCX~

I thought so. I had just read someone say that in another thread.

You may be confusing LTC/FTC with other coins that are POW+POS hybrids. Amount of coins held to secure the network with coins that have Proof of Stake minting, such as PPCoin, NovaCoin, BitBar, and YACoin. FC and LTC don't have POS features.

Hydroponica

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Quote from: mr_random on June 10, 2013, 07:23:59 AM

I've always wondered something about 51% attacks. Take Litecoin as an example - 18gh network hash at present.

Does one need 9gh to 51% attack it or 18gh? The reason being, if an entity attacks with 9gh, that makes the total network hash 27gh and of course 9 is no longer half of 27.

So does an entity need 9gh to attack with success, or is it 18gh?

You need to have 18GH/s, + a little more, to get 51%. Match and beat, current hashrate, control 51% of the total hashing power

worldinacoin

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Bitcoinexpress, do you mind me asking, what is your hashing power? Seen you battling Solidcoin etc. Without a substantial hashing power there is no way.

mr_random

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I've always wondered something about 51% attacks. Take Litecoin as an example - 18gh network hash at present.

Does one need 9gh to 51% attack it or 18gh? The reason being, if an entity attacks with 9gh, that makes the total network hash 27gh and of course 9 is no longer half of 27.

So does an entity need 9gh to attack with success, or is it 18gh?

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Hydroponica

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Quote from: zackclark70 on June 10, 2013, 06:33:13 AM

Quote from: Hydroponica on June 10, 2013, 06:28:59 AM

Quote from: erk on June 10, 2013, 06:25:06 AM

Quote from: Hydroponica on June 10, 2013, 06:18:00 AM

+1 As well, if needed, there are many more GH/sec, pointed at other Alt coins right now, that, I'm sure, most miners would divert in a heart beat, to protect LTC. Afterall, LTC falls, they all fall...

I don't understand what you mean, LTC is not THE important coin, BTC is. If LTC failed the other coins would go on.

BTC, is pretty much impossible to 51% attack. Would take too much $$, to attack it in the first place, and to keep 51% up for any length of time, would cost even more $$
LTC, is the strongest Alt coin, with the most support. It is THE alt coin. If LTC fell, it wouldn't effect BTC at all, but it would kill every Alt coin below it. If LTC could be taken down so easily, with such a large global hashrate, what hope do the smaller coins have? Who would trust them?

with bitcoin thay would be beter off hijacking some of the big mining farms im sure you will find that 50% of te bitcoin network is less than 250 farms it dosent take to much to hack a bunch of unprotected computers

Yeah, I'm not sure you fully understand the hashing power of BTC...It's like 85 TH/s...With a "T", with more and more being added each day...An attacker would have to match that, and beat it by an extra 1%...And then, he'd have to increase his hashing power, each day, to maintain the attack...We are talking millions of dollars here...

josiasrdz

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Quote from: erk on June 10, 2013, 06:53:25 AM

Quote from: Hydroponica on June 10, 2013, 06:28:59 AM

BTC, is pretty much impossible to 51% attack. Would take too much $$, to attack it in the first place, and to keep 51% up for any length of time, would cost even more $$
LTC, is the strongest Alt coin, with the most support. It is THE alt coin. If LTC fell, it wouldn't effect BTC at all, but it would kill every Alt coin below it. If LTC could be taken down so easily, with such a large global hashrate, what hope do the smaller coins have? Who would trust them?

There are no alt coins below LTC, they are all beside LTC, one does not depend on the others existence, it's not merge mining.

If somebody is able to do a 51% attack in ltc all the others scrypt coins are going to get a 51% attack as well

Hydroponica

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Quote from: erk on June 10, 2013, 06:53:25 AM

Quote from: Hydroponica on June 10, 2013, 06:28:59 AM

BTC, is pretty much impossible to 51% attack. Would take too much $$, to attack it in the first place, and to keep 51% up for any length of time, would cost even more $$
LTC, is the strongest Alt coin, with the most support. It is THE alt coin. If LTC fell, it wouldn't effect BTC at all, but it would kill every Alt coin below it. If LTC could be taken down so easily, with such a large global hashrate, what hope do the smaller coins have? Who would trust them?

There are no alt coins below LTC, they are all beside LTC, one does not depend on the others existence, it's not merge mining.

I'm talking in terms of hashpower, and acceptance. LTC is the ruler of the Alt world. Crypto in general, is dependant on reliability, trust.

kelsey

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Quote from: erk on June 10, 2013, 06:53:25 AM

Quote from: Hydroponica on June 10, 2013, 06:28:59 AM

BTC, is pretty much impossible to 51% attack. Would take too much $$, to attack it in the first place, and to keep 51% up for any length of time, would cost even more $$
LTC, is the strongest Alt coin, with the most support. It is THE alt coin. If LTC fell, it wouldn't effect BTC at all, but it would kill every Alt coin below it. If LTC could be taken down so easily, with such a large global hashrate, what hope do the smaller coins have? Who would trust them?

There are no alt coins below LTC, they are all beside LTC, one does not depend on the others existence, it's not merge mining.

seriously they're all below LTC....if LTC fell the rest would be easy picking for whoever was bored enough.

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