Topic: *** TittieCoin - Naughty But Classy - Official Currency of Tittie Island *** - page 74. (Read 250892 times)

so do u think we should change algo? for which one? if amount will stay and algo will be scrypt multipools will mine and dump, for long long time, like mooncoin:)

The best 51% protection is provided by a GPU coin, so only full blown computers can compute it, and one doesn't have to buy special purpose hardware. The hardware will be useless otherwise and after all coins have been mined (unless the incentive to mine is still up and maintained in some way like unlimited coins or high transaction fee), the miner will actually throw it away or sell it to someone else (who may be a cracker who's accumulating firepower for bad mining). This is not true for GPU hardware, cause they have a gaming and general computation purpose apart from mining, and probably the miners will themselves use it in gaming, so even after the mining incentive is lost, the hardware wont be sold cheap, and an attacker cannot buy them cheap.
      
      With new ASIC hardware, mining efficiency will increase; the new miners of the new hardware will start accepting transactions of lower transaction fees making the old hardware redundant cause they take more electricity. They will be sold cheap cause of this reason (lower profit margins or even losses).

      For an attacker, electricity cost is not of a concern, cause the attack time will be limited; he's going to earn money by making false transactions in blocks he mined.
      
      Yes -- the old hardware is old generation, but that doesn't mean it'll be slower.
      
      New hardware will not focus on higher hash rate, but power consumed per hash rate, thus, hash rate of new hardware may not increase exponentially making the network more vulnerable to attacks with older hardware.
      
      I'm not sure about the architecture of ASIC miners to comment on that. It's not an ARM processor which can be made faster by simply by increasing the clock speed. Modern AMD and Intel processors are not 4xPentium/athlon 64 @6GHZ. So an improvement in architecture does not necessarily mean faster speeds, it may have been done to reduce electricity consumption by half. Look at mobile processors for instance; they are more efficient than their Desktop (per Whetstone and dhrystone score) counterpart but slower.

      We just may have a similar trend for ASIC miners. Same consumption in electricity@little less hashing power.
      
      This's still worst for small alternative cryptocurrency using the same hashing algorithm. They're easy to exploit cause of low difficulty.
      
      If the algorithm is complex and unique, it'll need a LOT of R&D, the hardware will be expensive and insanely hard to make. It'll require a well funded team which only large organizations can afford and that too cost recovery will be from mining + selling of hardware not just by mining or attacks (where the price of cryptocurrency will drop resulting in a loss of the cracker cause he has to exchange a lot of coins in a small amount of time in order for it to be profitable). It'll take years to make such special purpose hardware; buying GPUs is cheaper. In contrast sha256 is way too simple and that's why making special hardware for was comparatively easy.
      
      CPU mining has a major disadvantage -- there's a lot of CPU power (not GPU power or control over special purpose hardware) in the hands of Botnets; under control of a cracker, he may have 51% hashing power for a small amount of time. But people are moving away from their virus-infested Microsoft Windows Desktop/Laptops to Android tablets and phones. So feasibility of such an attack is questionable, but still as of the current time botnets are big. Another disadvantage is that if an attacker uses CPU power of a system all the time, the owner will grow suspicious and reformat his Windows computer, but that wont be a problem for a short term to do a 51% attack; but one thing's for sure, the power of botnets to mine on a regular basis will be very limited cause most people own and work on laptops. Apart from this, if someone is wanting to do a 51% attack on a CPU only crypto, his best shot is to buy a lot of VPS for a short period of time; and then it's to be noticed that CPU is something owned by everyone, graphics card and ASICs are not. So expect the difficult to be high cause a lot of people will be mining it. People easily buy a more expensive CPU cause it's generally useful, not only for mining which's the case with ASIC and partially with Graphics chips (in case the miner is not a gamer or not using GPGPU for other purposes). So the crypto mining power will be more in the hands of the common people. It's also to be seen that the cost of VPS is mostly for the bandwidth available, not the CPU. The CPU model is not give in the most of the cases, giving a high risk factor. Also VPS cannot be sold off. So the attackers profitability relies completely by selling the coin who's price may decrease rapidly after the attack. Then check pointing makes things more difficult for him. But compared to GPU -- as of the current time, there's no one who lends GPUs. So the only way to attack a GPU coin is to buy GPUs which's the most expensive.

Bytecoin,  ReddCoin,  Karmacoin, Infinitecoin,  Devcoin,  Mintcoin, and many more. They come and go.

Actually I got none. I couldn't. No one sold them cheap.

I bought some millions off the doge exchange apart from mined.

I thought this coin already dead. Until i saw dildocoin. I hope there's a good future plan for this coin. Goodluck dev.

so why should there be so massive amount? did u see any coins with big amounts accepted by ppl(dont say doge) if coins have no features like anon etc?
i hope u bought alot after ur adverts:)
do u think there is more then 200mil coins in existance after ppl deleted wallets after coin seemed be dead? i know guy who deleted wallet with 50mil+

I know a guy who didn't 

so why should there be so massive amount? did u see any coins with big amounts accepted by ppl(dont say doge) if coins have no features like anon etc?
i hope u bought alot after ur adverts:)
do u think there is more then 200mil coins in existance after ppl deleted wallets after coin seemed be dead? i know guy who deleted wallet with 50mil+

While reducing coin volume has some real reasons, but it's to be realized that it's obvious people are going to vote for it so their holdings have move value.

This's a small thing -- it's irrelevant.

It's time to change to another algo.