Topic: Operation Newcoins Protection - Join the Resistance - page 2. (Read 2199 times)

I agree with you that most coins offer nothing new, and a lot are nothing more than scams. But the point of my post, is that the solution to this problem is not using draconian scare tactics and intimidation. The only objective judge of this is the free market, so the thugs who want to do 51% attacks should not be allowed to, since it is in violation of the decentralised nature of cryptos. And of course since it is decentralised, there is no police to make them stop, so its up to the community who disagree with their practice to nullify their attacks.

But like lamontweaver said, maybe I give them too much importance and they don't have as much power as they claim

What.... like 350 of them? The "options" has gone out of control with the copy paste shitcoins with no new developments. Imagine this.... a cloning machine makes 100 Brad Pitts flock into Hollywood, each with a different hair do and costume, but Brad Pitts none the less. Do you think the "value" of the original Brad Pitt goes down or not? It does.... and I wouldn't necessarily call them "options"... they are copies with different looks, thats all. On the other hand if there comes a Denzel Washington, Will Smith, Leo decaff and J Depp into the scene, then you have real value there. Each actor will be giving it their best and bringing their own uniqueness to the movies they compete and fight for, and as an audience you are "investing" in these actors to do better by paying to watch their movies. Now those are options.

So what Im trying to say is that we need options to strengthen the system.... of course, but clones disguised as options.... I don't think so. They drive the entire market down, reduce quality, stifles innovation and just plain makes it inconvenient for investors. How many crazy trigger happy flappy coins and rabbit coins and rainbow coins does it take to bring down this boat we're all in? These guys who are against shitcoins, I applaud them for taking an initiative to do whatever is in their power in getting rid of these parasites!

I think it is best to ignore Operation Shitcoin cleanup. They won't accomplish anything.
It is just a bunch of failed developers trying to kill off competition. And they've attracted the people scared by the recent plummet of bitcoin and wanting to blame something like shitcoins and also control freaks and those who need authority and rules to follow.

Shitcoins are not killing the altcoin market. The market will sort itself out.
New exchanges are popping up like daffodils in the spring and more people are trading everyday. Money continues to pour in.
There is no problem.

Doge is dying? Last week it amassed enough money to sponsor a Doge car for a Nascar driver. Since this morning, they gave a million Doge to fund a free sci-fi show on youtube. It's the most alive crypto right now, not far beyond Bitcoin.

I don't understand your point, about how scrypt Asics are going to kill Dogecoin and Litecoin. The asics are equally available to everyone, so no more chance of 51% attacks than there are now. Plus, Bitcoin survived this quite well.

DOGE is not a successful cryptocurrency, it is a still-dying scam.

The value it did bring though was that it showed how pathetically vulnerable litecoin was, and thus how vulnerable any coin is that lacks specialised hardware to secure it thus can be out-hashed by commodity hardware thus can be trashed by whatever stupid meme happens along enticing people to use their commodity hardware for hashing.

It might not only be a garbage failure itself but also have proven that litecoin is too.

We will see though when scrypt ASICs become the vast majority of scrypt hashing power.

Will litecoin plus its merged mined friends prevail or will DOGE and its merged mined friends prevail, or will litecoin and DOGE adapt to be merged mined together so that they both, along with their friends, can all be secured by all that scrypt hashing power?

Or will they continue to fragment the scrypt space, continuing to make both of them constantly in danger of having less than half of the world's scrypt hashing power?

-MarkM-

You would be right if altcoin's only value was speculation. But for me and probably many others, its attractive to have other options to use as store of value rather than Bitcoin and Litecoin. Each coin has a potential to attract a community, and its not the role of some dudes with a lot of mining power to decide which of them have no potential.

Please protect solarcoin and digitcoin

Well.... that's where the logic fails. You see, unlike tangible stuff like food, movies, that provide satisfactions, that in turn leads to recommendations, which needs time to play out, Crypto Mining on the other hand is not a "fun" activity as such. The only fun part is in speculation and earning a profit by selling it to people who think they can sell it to other for higher. So obviously the people who get in early will be able to sell it to people who want to sell it higher, etc. Imagine a hundred of these, and the search for the greater fool is taken on to new heights, and the value of the original cryptos gets diluted, because the BTC is all pulled out these long holding coins and sold got the quickest deal they can get, to catch the shitcoin train going up.

I really have no clue why someone would want to mine a shitcoin in the future if they did not in the present. Unless there is something inherently unique in the coin, the value will only go downhill. It has to serve a purpose... be a means to an end sorts. If its just a clone with a new logo and name, and you expect it to rise in value without affecting the original coin, there must be something wrong with your understanding of economics.

Edited out the donation adress from the OP, since it lowered credibility in this project.

Why would you want that? Because they make people put less money in Litecoin?

Thank god Scrypt asics are coming out I can't wait to see all these shitty copy paste coins get 51% and die.

Why? Reasons and proofs must be used when deciding which coin is being racketted.

They attack new coins which have not gathered enough interest from miners, but who might in the future. I understand it might seem counter-intuitive to say we fight for protecting the free market, but the goal here is only to counterbalance their negative effect. If a coin fail to gather sufficient interest from miners after we protected it, then it's alright for it to dissapear.




I meant being able to control my money, and being able to put it in places that are not regulated in any way, especially not by crypto-thugs.





I believe the beginning of this post answers this

Protect mister PENG please!!!

That's were we come in. To make their criminal activities attempt unsuccessful, until they give up.

Well... technically crypto universe is a free market and they are free to do as they please with their rigs. You cannot use the 51% attack as any sort of "fairness" judgement. The reason they could do 51% is not because of the otherworldly hashpower they posses. Its because the shitcoin was not convincing enough for a miner to switch his current coin to yours. It brought nothing to the table and there was no inventive to mine the shit.


The fuck does that even mean? What is a "my economy"?




Why "protect"? Isn't it in the nature of free market to eradicate the useless unproductive ones? Don't you think you are being a bit hypocritical by playing the role of a "government" by subsidizing value to these shitcoins (like welfare for the shitcoin devs), thereby multiplying them? Its a well documented fact.... that which you subsidize, multiplies.

You are looking to cure the symptom, while they are trying to cure the disease.



LOL.... I too need hash power. Send money money money to 18quigms214LHmEq8s2XuCSAWHKRbhq8n2 as well.... you know... for the good fight  

The problem here, is that Operation Shitcoin Cleanup is targeting new coins who did not have the time to gather enough interest from miners to be secure, but who might in the future. Imagine if they had attacked Dogecoin at its beginning, when there was only a handful of miners. It might never have recovered and become the sucessful crypto it is now.

What I propose as a solution, is to defend the new coins unjustly attacked, until BitcoinExpress and other thugs abandon. Then we'll move to another coin. If the once protected coin fail to gather enough interest from independant miners, we won't protect it again and it will be left to die by the law of the free market, in a fair way.

BCX and the rest of the bitcoin fascists are wasting their time. For every coin they attack 5 more are springing up in their place, and they have demonstrated abject stupidity so far in terms of developing a strategy to fight them. They can do a little damage here and there, but ultimately they are about a relevant as DDOS attacks.

The profusion of altcoins is out of hand, but the free market will sort it all out. No one is forcing you to mine or buy a coin you don't like. To listen to the bitcoin fascists, the New York Stock Exchange should consist of 1 stock with 90% of the market cap, and a mere handful of other stocks that are firmly kept in their place.

Even if they have not been committing extortion, the damage they are doing to coin values (and thus having a real-world financial impact that is hurting people) makes them criminals in my book, and I wouldn't mind seeing them arrested in real life. Or if anyone can expose their identity, other forms of pressure might reasonably be applied.

The most idiotic thing is they presumably think they are protecting bitcoin. All they are doing is turning people away from all cryptocurrency, their own included. If they succeed they'll wind up holding all the bitcoins, with no value, wondering what happened.

Just pick the coin or coins to mine and mine them.

But take care not to waste your hash power on coins you do not have enough hash power to actually secure/defend.

Thus either design a specialised chip that will hash in a way that a few thousands or tens of thousands of people with a few hundreds or thousands of GPUs or CPUs or FPGAs each will not be able to out-hash your specialised chip or direct all your hashing to whichever coin has the most hash power and stick with it instead of changing your mind based on bribes.

That is, if some other coin tries to bribe you into abandoning your coin to go mine some other coin, by making it "more profitable" on some website or calculation, stick to your coin, because if you let yourself get bribed away from defending your coin you might as well never go back, since if you won't defend it don't bother expecting anyone else to defend it.

All you GPU and CPU miners are basically screwing yourselves by making all the GPU and CPU coins more and more worthless by constantly abandoning them.

As more and more potential investors realise that more and more GPU and CPU miners are committed to abandoning coins and coming up with more and more scams to abandon them for, the whole field of CPU and GPU coins will become worth less and less and less.

Every time you switch coin, you make it yet more obvious that both the coin you switched from and the coin you switched to are useless garbage, bait-and-switch scams, you bait people into one by mining it, then switch to another, and just keep doing that bait-and-switch over and over and over, even developing specialised pools that exist solely for the purpose of facilitating that whole bait-and-switch scam cycle.

-MarkM-

I use the enemy's definition of it
But you're right, that might be a bad choice. Will change the thread's title right now.