lets say he really is capable of doing so.
What would be the consequences for poloniex?
Topic: Some guy threatens ETC (Ethereum Classic) with a 51% attack - page 4. (Read 3356 times)
Those are antminers in the photo, for mining btc.
I know that, but this is him on the picture. You can check his FB profile and see some big farms with GPU's...
Then post a picture of his GPU farm. This sounds like a bluff to me.
Edit Asking people to provide their personal information to the NSA (among others) via Facebook / PRISM is not going to cut it with many here.
Those are antminers in the photo, for mining btc.
I know that, but this is him on the picture. You can check his FB profile and see some big farms with GPU's...
Those are antminers in the photo, for mining btc. Also, Chandler?
Re: PoS, the problem is nothing-at-stake and stake grinding. You can't get something for nothing. If a large miner wants to try a 51% attack he has to at least expend huge amounts of energy mining a fork, losing income from mining the accepted chain. If a large stake holder wants to attack the network it costs nothing except a few cpu cycles.
Re: PoS, the problem is nothing-at-stake and stake grinding. You can't get something for nothing. If a large miner wants to try a 51% attack he has to at least expend huge amounts of energy mining a fork, losing income from mining the accepted chain. If a large stake holder wants to attack the network it costs nothing except a few cpu cycles.
The nothing-at-stake myth was debunked long ago, do not FUD please. Oh, maybe you like to be screwed by Guo dude? Enjoy the pleasure.
Those are antminers in the photo, for mining btc. Also, Chandler?
Re: PoS, the problem is nothing-at-stake and stake grinding. You can't get something for nothing. If a large miner wants to try a 51% attack he has to at least expend huge amounts of energy mining a fork, losing income from mining the accepted chain. If a large stake holder wants to attack the network it costs nothing except a few cpu cycles.
Re: PoS, the problem is nothing-at-stake and stake grinding. You can't get something for nothing. If a large miner wants to try a 51% attack he has to at least expend huge amounts of energy mining a fork, losing income from mining the accepted chain. If a large stake holder wants to attack the network it costs nothing except a few cpu cycles.
Why does he have to issue a threat? Why not just go and do it? I do not think he will continue on and do it. Won't it be more profitable for him to also mine Ethereum classic side by side with Ethereum fork?
And where is the attacker of Ethereum? Is the Ethereum fork still vulnerable to the attack he did before?
And where is the attacker of Ethereum? Is the Ethereum fork still vulnerable to the attack he did before?
That guys got some serious equipment there. Gud news he's on the ETH side.
Imagine an institutional investor bought a POW coin, like Bitcoin. A dude in China threatens to fuck around with that investment because he can. Many people wonder why Bitcoin doesn't go to moon. That's why. Because now instead of banks some Guo dude in China controls your money. How is it different from banks? No how, that's how. It can get to the point when it's a matter of national security.
Only Proof of stake lets you manage your money, you own, use and control it.
That guys got some serious equipment there. Gud news he's on the ETH side.
This is precisely why Proof-of-work has no future except as a bootstrapping mechanism. Miners can fuck network all they please. Miners have to be currency holders, other wise they don't give two fucks about what they mine and what they do with the mined coins. Miners = currency holders only in Proof of stake = responsibility and control over your stake. In proof of work control is in the hands of some sick weirdo thousands miles away, who had used cheap labor to assemble square miles of ASICs crunching numbers. POS is the future with democratic voting, POW is for those who likes to be screwed and complain that they are screwed. Choices, choices.
Disclaimer: I don't own Eth or Ethc and never did.
Disclaimer: I don't own Eth or Ethc and never did.
Would that not be acceptable to the ETC defenders? He wouldn't be breaking any rules.
The hard fork was already condemned by many people, famous in the cryptocurrency space. I also think that it was mistake, but I am nobody.
Translation: It's just a greedy Chinese guy that bought 5 billion GPUs to mine with. He really doesn't give a flying shit about anything cryptocurrency related and thinks if he can take down Eth Classic then it might increase his mining rewards if there's not 2 Eths.
He can buy them and he did it. I wouldn't judge him.
Translation: It's just a greedy Chinese guy that bought 5 billion GPUs to mine with. He really doesn't give a flying shit about anything cryptocurrency related and thinks if he can take down Eth Classic then it might increase his mining rewards if there's not 2 Eths.
Would that not be acceptable to the ETC defenders? He wouldn't be breaking any rules.
A guy named Chandler Guo (https://www.facebook.com/profile.php?id=100004160466534, https://twitter.com/chandlerguo) threatened Ethereum Classic with a 51% attack:
... and it looks like he got some serious equipment (not sure if it's real or not, feel free to check his profiles):
... and it looks like he got some serious equipment (not sure if it's real or not, feel free to check his profiles):
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