Topic: delete (Read 4922 times)

Hang on, someone pulled an attack and destroyed part of the networks litecoins ?
This is even possible with litecoin ?

exactly how much did people lose thanks to this "experiment" ?
I like litecoin but if this indeed is the case I cannot support an alt currency.
I have a friend who lost 2k LTC , he sent them to BTC-ex during these shenanigans and they never showed (0 conf), looking at his address in block explorer it shows  the correct balance.

The check point is not the problem.
BitcoinEXpress already told coblee that he wont attack.
He also said any coin he attacked so far is dead.
So, if some one in future attacks then Litecoin also will die.

Bitcoin gaining trust.
Litecoin loosing trust.

According to http://www.litecoinpool.org/charts#market
The BTC/LTC market moved down substantially on 7/25.
There were two spikes of LTC/USD upwards, but there has been less than $50 worth of trades in that market for the past 2 days. So it was probably due to buying into a lack of liquidity.

I wish I could get transaction volume numbers. /sigh

So after I came out and told BCX that I've lost all respect for her(?) if she attacks Litecoin, I got this PM:


So I was not sure what to think of this. I'm not sure what she meant by "not going to hit it hard enough to hurt it."
Either BCX is really just faking this attack to help Litecoin against an attack by someone else (because pools were indeed getting DDoS'd and there definitely was a possibility that someone is trying to 51% the network) OR BCX is lying to me in PM to hope that I do nothing to try to stop her. Since I didn't know BCX well enough, I couldn't just take her word for it. So I decided to treat BCX's threat as real. So that's how I've acted initially towards this attack. And if the attack indeed turns out to be a bluff, it would be a learning experience to see how our community handles such an attack. I believe we will get attacked for real eventually if this was not real.

Since BCX announced when she was going to fork the network, I decided that the best defense was to just put a checkpoint in 12-24 hours after she forked it. This way if enough people upgraded, she would have wasted all the time and money and had to refork after the checkpoint if she was going to continue the attack. So that's what I did. In the meantime, I got a few more PM's from BCX:



At this point in time (Thursday), I've decided that BCX's threat was indeed a bluff. Maybe she was just trying to help Litecoin in a weird twisted way. I told people that I thought the attack was a bluff and even if it was not, I believed our network hashrate was large enough to make it prohibitively expensive to attack us. And I decided there was no reason to do another checkpoint and told BTC-e that I think it's safe to open up deposit/withdrawal.

So that's my side of the story.

Geez, don't sweat it, I'm not going to hit it hard enough to hurt it.

Have you noticed the hash rate in LTC has jumped 200K in the past hour. These guys needed a public face to rally against and defeat the DDoS going on.

Just keep this to yourself.

Have you noticed how the DDoS has stopped on the pools since I started all of this.

Well you kinda put me in a position to have to carry through now by telling them you didn't think I could

Honestly I don't care if they don't like me. In a matter of two days I have galvanized this community, the DDos have stopped, and LTC is at 0.0063.

On Monday I noticed that most of the LTC pools were getting DDos'd to hell and all the signs of pending 51% attack were evolving. I decided to try and do something about. So BEFORE I did anything I ran this by Coblee, he's known from the start that I was going to give you guys a focal point to rally against since all of you just moped around and stayed in the pools like morons. I didn't care if you guys hated me or not.

I have the PM's prior to the attack to and from Coblee that Theymos can verify if needed. Coblee has said he will admit if necessary.


To try and convince you guys a real attack was happening, I paid for $400.00 worth of EC2 to spike the unknown hashrate up to 70% to alarm you guys and you all let morons like Bitlane tell you "oh, don't worry"....

It's was a lot faster and easier to set up the paid verses my freebie EC2's from work.

IDIOTS, why would I ever attack Litecoin, I protected Litecoin in the early days, I helped build it and many times proped it up the coin just to bump it past SC. Some good has come of this, the DDoS stopped because for a while a lot of you did jump on solo.

Bottom line is, Coblee knew I wasn't really going to attack Litecoin. He knew ahead of time. Just to be clear it was entirely my idea, but he knew.

As bad as I hate to admit Coinhunter was right, some form of 51% attack protection is needed as a hard coded feature. Hashrate alone isn't enough because the nature of humans just suck.
~BCX~

1. When we look at the common psychology of con men and scam artists, what do we learn?

First and foremost, most career con men are sociopaths. They are self-absorbed and believe that anything they say and do justifies a positive outcome for themselves. They can’t imagine or don’t care about the consequences their actions have for the people they may hurt. They rationalize away any concern that they are harming other people with any number of self-delusional discussions, if they consider the ethical side of their scams at all. What’s good for them is, by definition, what’s good…period....