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kelsey

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Activity: 1876

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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?

+1 wow I agree with hydro on something.

erk

hero member

Activity: 826

Merit: 500

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.

zackclark70

legendary

Activity: 868

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ADT developer

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

zackclark70

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Activity: 868

Merit: 1000

ADT developer

Quote from: Ludicrous on June 10, 2013, 04:48:41 AM

One of the largest pool, give-me-ltc, has some very strange miners (e.g hedon, hendo420, besultc, etc...) that have been finding multiple blocks despite the odds and their 'unknown' hash rates vs the top users.

Could it be just a bug in the pool software? If not, there are some good theories Wink

a bug i would think it says i found 10 blocks with 2000kh in a week

Hydroponica

full member

Activity: 182

Merit: 100

fml

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?

erk

hero member

Activity: 826

Merit: 500

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.

Hydroponica

full member

Activity: 182

Merit: 100

fml

YipYip

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digitalindustry

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Activity: 798

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‘Try to be nice’

Quote from: erk on June 10, 2013, 05:20:41 AM

Quote from: kelsey on June 10, 2013, 05:10:04 AM

Not at all, they'd not need a warmup and would have gone for LTC first. LTC legitimised iteslef somewhat by surviving earlier attacks, and not having been premined etc. and I'm no fan of LTC.
FTC is just a pretend coin trying living off LTC success.

You could say LTC was a pretend coin trying to live off the BTC success. That's how inheritance works, each spinoff makes little changes.
LTC and BTC would die if they suddenly lost a substantial part of their net hash rate. Imagine what would happen to BTC if ASICMINER went bust and shut their mining operation. FTC and several other coins have proved this, FTC made changes to compensate, which LTC and BTC have not done so, they are the high risk coins, only increasing mining activity keeps them from failure.

+1

i have a large pile of popcorn for that one - although sCRypt is much more durable - and power intensive with relation to the RAM bandwidth -

BladeRunner

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Cheif Oompa Loompa.

Quote from: ondratra on June 10, 2013, 04:32:37 AM

ASIC's are surely possible for scrypt mining - because ASIC means that you build circuit for specific think - and when you have specific needs there is no problem to put memory scrypt needs. Memory these days is very cheap so ASIC could be designed + build for reasonable price

I might further add, that the first ones you see will not be ASIC, they will be FPGA's with some external ram to hash the 128K block. The theory is that cgminer is being ported to VHDL to burn into some FPGA's. Once thats done it becomes quite easy to contract a chip designer to make it in stone (asics). In fact. there is NO encryption hash that cannot be done in an ASIC.

FPGA's might be the wave of future miners. they may take a bit more power and might be a little more expensive than ASIC's, but they are reconfigurable and can be changed to hash anything at a later date.

erk

hero member

Activity: 826

Merit: 500

Quote from: kelsey on June 10, 2013, 05:32:05 AM

Yeah but LTC was done honestly and fairly and to work side by side with BTC....and its time out there legitimised it. FTC is equal to so many other alt coins out there just the dev try and pretend to the public its designed to work under LTC...which is bs.

FTC made changes to compensate lol.....mmm yeah sure dude it'll be lucky to survive the week.

Honestly and fairly, what cloy patriotic nonsense. It is open source, all is fair as long as you stick within the copyright.

kelsey

legendary

Activity: 1876

Merit: 1000

Quote from: erk on June 10, 2013, 05:20:41 AM

Quote from: kelsey on June 10, 2013, 05:10:04 AM

Not at all, they'd not need a warmup and would have gone for LTC first. LTC legitimised iteslef somewhat by surviving earlier attacks, and not having been premined etc. and I'm no fan of LTC.
FTC is just a pretend coin trying living off LTC success.

You could say LTC was a pretend coin trying to live off the BTC success. That's how inheritance works, each spinoff makes little changes.
LTC and BTC would die if they suddenly lost a substantial part of their net hash rate. Imagine what would happen to BTC if ASICMINER went bust and shut their mining operation. FTC and several other coins have proved this, FTC made changes to compensate, which LTC and BTC have not done so, they are the high risk coins, only increasing mining activity keeps them from failure.

Yeah but LTC was done honestly and fairly and to work side by side with BTC....and its time out there legitimised it. FTC is equal to so many other alt coins out there just the dev try and pretend to the public its designed to work under LTC...which is bs.

FTC made changes to compensate lol.....mmm yeah sure dude it'll be lucky to survive the week.

erk

hero member

Activity: 826

Merit: 500

Quote from: kelsey on June 10, 2013, 05:10:04 AM

Not at all, they'd not need a warmup and would have gone for LTC first. LTC legitimised iteslef somewhat by surviving earlier attacks, and not having been premined etc. and I'm no fan of LTC.
FTC is just a pretend coin trying living off LTC success.

You could say LTC was a pretend coin trying to live off the BTC success. That's how inheritance works, each spinoff makes little changes.
LTC and BTC would die if they suddenly lost a substantial part of their net hash rate. Imagine what would happen to BTC if ASICMINER went bust and shut their mining operation. FTC and several other coins have proved this, FTC made changes to compensate, which LTC and BTC have not done so, they are the high risk coins, only increasing mining activity keeps them from failure.

kelsey

legendary

Activity: 1876

Merit: 1000

Quote from: BitcoinEXpress on June 10, 2013, 02:39:55 AM

How does all of this relate to FTC and LTC in 2013?

The very same people that truly despised everything LTC back then that created the Scrypt GPU Miner to kill LTC are still around.

Well yes they are, but most have warmed to LTC especially compared to the current swarm of alt coin.

Quote from: BitcoinEXpress on June 10, 2013, 02:39:55 AM

This attack on FTC is a simple warm up for LTC.

~BCX~

Not at all, they'd not need a warmup and would have gone for LTC first. LTC legitimised iteslef somewhat by surviving earlier attacks, and not having been premined etc. and I'm no fan of LTC.
FTC is just a pretend coin trying living off LTC success.

erk

hero member

Activity: 826

Merit: 500

There is a new version of the FTC client released today with checkpoints added.

Version 0.6.4.1 make sure you grab it especially if you are a pool operator.

Ludicrous

newbie

Activity: 7

Merit: 0

One of the largest pool, give-me-ltc, has some very strange miners (e.g hedon, hendo420, besultc, etc...) that have been finding multiple blocks despite the odds and their 'unknown' hash rates vs the top users.

Could it be just a bug in the pool software? If not, there are some good theories Wink

ondratra

sr. member

Activity: 350

Merit: 250

ASIC's are surely possible for scrypt mining - because ASIC means that you build circuit for specific think - and when you have specific needs there is no problem to put memory scrypt needs. Memory these days is very cheap so ASIC could be designed + build for reasonable price

Starlightbreaker

legendary

Activity: 1764

Merit: 1006

i'm getting my popcorn ready.

next week will be an interesting week.

more coins will join the altcoin graveyard.

digitalindustry

hero member

Activity: 798

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‘Try to be nice’

Quote from: erk on June 10, 2013, 03:43:54 AM

The FTC attack was probably conducted by one of the big LTC pools, as that's the only way to suddenly redirect hundreds of MH/s of scrypt miners. Now that FTC net hash is over 2GH/s it's much harder to do than when it was down at a few hundred MH/s earlier on.

They could easily smash CNC, Nibble, GLD and a number of direct LTC clones with low net hash rates.

By the way i 100% know this -

but by doing that all they will do is drive all the currencies out of thier control -

That is to say their information control vector -

They will end up hunting for currencies here and there - for example the official LTC forum is considering right now opening an "Alternative Currency" section that has the two simple sub boards [ANN] and [Trading] - that would not be implemented here, it was my advice to them .

Do they really want the entry point of all Cryptocurrency to be the hub of the place that has many of the people frequenting it that want to destroy Cryptocurrency {as futile as that is, for a goal} - hey guys I supported you against communism , now you are the communists obviously.

you guys have had a taste of my innovative ideas, an that is it , i'll save the rest for when we are out of your reach.

manywelps

newbie

Activity: 48

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Quote from: erk on June 10, 2013, 03:43:54 AM

The FTC attack was probably conducted by one of the big LTC pools, as that's the only way to suddenly redirect hundreds of MH/s of scrypt miners.

I doubt it, you could probably detect it by looking at which LTC pool had bad luck that was outside of several standard deviations during the attack.

Topic: delete - page 3. (Read 9158 times)