Using Litecoin To Protect Bitcoin Versus 51% Attacks - By Casascius - page 2.

CoinHoarder

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Quote from: jonald_fyookball on July 06, 2014, 02:19:58 AM

the original proposal advocates getting rid of the longest chain rule for
bitcoin in favor of some bizarre check against litecoin.

for that reason, it's mostly likely a very bad idea and not
even worthy of a core dev to comment on.

The way I understand, it doesn't effect Bitcoin unless it is under a 51% attack and more than one chain pops up. It would be a back up to the way Bitcoin determines a valid chain, only to be used in extreme circumstances.

Quote from: Bitcoin Magazine on July 06, 2014, 04:05:56 AM

PPcoin is superior to Bitcoin in every shape and form. Why not use that?

PPcoin could be used to do this, and I think alternatives should be looked into if Litecoin wouldn't want to. In fact, they seem downright hostile towards the idea so maybe it should be done on a different chain. It doesn't have to be Litecoin at all. Since Litecoin uses a different algorithm though, it would require building two different types of ASICs to 51% either network. Any coin with a different algorithm, or one secured by PoS like PPcoin would suffice.

Quote from: m3 on July 06, 2014, 04:35:32 AM

yes if one of bitcoin's pools gets close to 51% its best to move to another coin.

If this were implemented, then it pretty much negates 51% attack unless the attacked can also gain a hold of the Litecoin network too.

m3

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yes if one of bitcoin's pools gets close to 51% its best to move to another coin. But I think vertcoin is a better solution then litecoin because the distribution of the mining pool is more even.

Bitcoin Magazine

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PPcoin is superior to Bitcoin in every shape and form. Why not use that?

doo

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What exactly is the point of bringing a dead and buried discussion back up? OP must rate his life very cheaply to waste his precious time going through thousands of archival pages.

ChuckStrawberry

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its only time until a notable coin suffers a 51%. that will probably jump us up in adoption

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

the original proposal advocates getting rid of the longest chain rule for
bitcoin in favor of some bizarre check against litecoin.

for that reason, it's mostly likely a very bad idea and not
even worthy of a core dev to comment on.

smoothie

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LEALANA Bitcoin Grim Reaper

If you read the original thread when Mike penned it I was in support of his original idea presented there.

Not sure what happened and why it was not implemented.

Charlie care to remind us why?

darkota

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Quote from: fryarminer on July 05, 2014, 10:28:21 PM

Quote from: chaoticbrain on July 05, 2014, 03:28:58 PM

Well theoretically if you had the processing power to attack bitcoin, couldn't you just attack litecoin, and change the rules around including bitcoin hashes, or whatetever, before attacking bitcoin ?

No, because SHA256 and scrypt don't use the same asic hardware, so to have 51% power in both would be near illogical, if not impossible.

That makes no sense. To get 51% of the hashrate in Litecoin is relatively Very Cheap to get 51% hashrate in Bitcoin.

Scrypt and SHA256 are very similar, I don't know what world youre living in fryarminer.

fryarminer

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Quote from: chaoticbrain on July 05, 2014, 03:28:58 PM

Well theoretically if you had the processing power to attack bitcoin, couldn't you just attack litecoin, and change the rules around including bitcoin hashes, or whatetever, before attacking bitcoin ?

No, because SHA256 and scrypt don't use the same asic hardware, so to have 51% power in both would be near illogical, if not impossible.

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: CoinHoarder on July 05, 2014, 01:01:30 PM

Quote from: darkota on July 05, 2014, 12:38:02 PM

Quote from: CoinHoarder on July 05, 2014, 12:32:09 PM

The crypto world would be a better place if we worked together. It is odd that both sides here (Bitcoin and Litecoin) are not interested in working together to do this.

I found it pretty disturbing most people in the Litecoin community didn't want to do it. I guess it's gonna take a $0.50 Litecoin before they will do anything. One of their biggest slogans right now is "we help with Bitcoin development", but IMO if they truly wanted to help Bitcoin then they would be more open to implementing this.

Dude, Litecoin is already freaking dead.

It has had no updates/features/anything added by it's developer

It has an extreme lack of community, Dogecoin's puts it to shame

It has no first mover status

It has no adoption by any major organizations/companies at all

Leave that dead coin alone please. No one wants to affiliate a shit alt-coin like Litecoin, with Bitcoin.

Shut up already bro. Anyone that cares knows your opinion after you repeated it the first 500 times. This thread is about securing Bitcoin and saving Litecoin.

Well if the only viable use for LTC is to secure BTC then it's value would likely be near zero. If it's value is near zero then it's miners would have little incentive to continue to mine for the network.

chaoticbrain

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Well theoretically if you had the processing power to attack bitcoin, couldn't you just attack litecoin, and change the rules around including bitcoin hashes, or whatetever, before attacking bitcoin ?

CoinHoarder

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Quote from: darkota on July 05, 2014, 02:06:33 PM

Exactly, they don't want help. Litecoin is dead, leave it alone.

Well... I guess I agree with you here, it appears like that is true. I am hoping that the developers can see the value of the idea and convince the Litecoin sheep to follow them.

I would leave it alone, but I still have some family and friends tied up in Litecoin.. don't think they want to sell at such a loss. My friend has 5 figures tied up.

darkota

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Quote from: CoinHoarder on July 05, 2014, 02:01:59 PM

Quote from: EcuaMobi on July 05, 2014, 01:41:18 PM

Quote from: darkota on July 04, 2014, 07:10:41 PM

This is a very stupid idea to be completely honest.

Litecoin is even more vulnerable to 51% attacks than Bitcoin. It's difficulty is Way lower, and if you guys haven't noticed, there are Scrypt ASIC. Meaning that the same issues 51% problem for Bitcoin, is also there for Litecoin and it's much easier to successfully 51% attack Litecoin than Bitcoin .

Litecoin is not the silver to anyone's gold, it's simply just another shit alt-coin...with not much of a community(Yes i have an account at litecointalk and there is Hardly any activity there), and absolutely no new features or innovation. Nothing, Nada, zip. Litecoin can be compared to Dogecoin in the lack of innovation and any new features and the constant downfall in price, but even Dogecoin has a robust, outstanding community, while Litecoin's community is more empty than the Saharan Desert.

What you need, is a coin that won't suffer as much from the same 51% attacks that threaten Bitcoin.

Litecoin is definitely not the answer, there's nothing special about it, it's on a decline to 1 satoshi, has no community, and it's 10000000x easier to 51% attack than Bitcoin....

Even if both coins can be 51% attacked, it'd be more difficult to attack both coins at the same time.
If somebody successfully attack Bitcoin, he would need to perform the same attack to Litecoin too, so it's verified. Quite difficult.

Be it Litecoin or another alt coin, I think it's a great idea.

Yes, good explanation. If you go to the thread on the Litecoin forums, the posters are acting like they don't need this or Bitcoin. I am hoping the Litecoin developers can take a step back and look at the big picture more rationally than the posters there.

Exactly, they don't want help. Litecoin is dead, leave it alone.

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Quote from: EcuaMobi on July 05, 2014, 01:41:18 PM

Quote from: darkota on July 04, 2014, 07:10:41 PM

This is a very stupid idea to be completely honest.

Litecoin is even more vulnerable to 51% attacks than Bitcoin. It's difficulty is Way lower, and if you guys haven't noticed, there are Scrypt ASIC. Meaning that the same issues 51% problem for Bitcoin, is also there for Litecoin and it's much easier to successfully 51% attack Litecoin than Bitcoin .

Litecoin is not the silver to anyone's gold, it's simply just another shit alt-coin...with not much of a community(Yes i have an account at litecointalk and there is Hardly any activity there), and absolutely no new features or innovation. Nothing, Nada, zip. Litecoin can be compared to Dogecoin in the lack of innovation and any new features and the constant downfall in price, but even Dogecoin has a robust, outstanding community, while Litecoin's community is more empty than the Saharan Desert.

What you need, is a coin that won't suffer as much from the same 51% attacks that threaten Bitcoin.

Litecoin is definitely not the answer, there's nothing special about it, it's on a decline to 1 satoshi, has no community, and it's 10000000x easier to 51% attack than Bitcoin....

Even if both coins can be 51% attacked, it'd be more difficult to attack both coins at the same time.
If somebody successfully attack Bitcoin, he would need to perform the same attack to Litecoin too, so it's verified. Quite difficult.

Be it Litecoin or another alt coin, I think it's a great idea.

Yes, good explanation. If you go to the thread on the Litecoin forums, the posters are acting like they don't need this or Bitcoin. I am hoping the Litecoin developers can take a step back and look at the big picture more rationally than the posters there.

EcuaMobi

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Quote from: darkota on July 04, 2014, 07:10:41 PM

This is a very stupid idea to be completely honest.

Litecoin is even more vulnerable to 51% attacks than Bitcoin. It's difficulty is Way lower, and if you guys haven't noticed, there are Scrypt ASIC. Meaning that the same issues 51% problem for Bitcoin, is also there for Litecoin and it's much easier to successfully 51% attack Litecoin than Bitcoin .

Litecoin is not the silver to anyone's gold, it's simply just another shit alt-coin...with not much of a community(Yes i have an account at litecointalk and there is Hardly any activity there), and absolutely no new features or innovation. Nothing, Nada, zip. Litecoin can be compared to Dogecoin in the lack of innovation and any new features and the constant downfall in price, but even Dogecoin has a robust, outstanding community, while Litecoin's community is more empty than the Saharan Desert.

What you need, is a coin that won't suffer as much from the same 51% attacks that threaten Bitcoin.

Litecoin is definitely not the answer, there's nothing special about it, it's on a decline to 1 satoshi, has no community, and it's 10000000x easier to 51% attack than Bitcoin....

Even if both coins can be 51% attacked, it'd be more difficult to attack both coins at the same time.
If somebody successfully attack Bitcoin, he would need to perform the same attack to Litecoin too, so it's verified. Quite difficult.

Be it Litecoin or another alt coin, I think it's a great idea.

CoinHoarder

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Quote from: fryarminer on July 05, 2014, 01:22:46 PM

I think Casascius' idea is a great one! How can it be implemented? Who do we need to convince?

The Bitcoin and Litecoin development teams would need to work together.

Ron~Popeil

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I actually think litecoin is a good compliment to bit coin. The complete lack of activity around it is somewhat mysterious to me. It will probably fall to third in market cap before the end of the year.

I think the idea could work and benefit both coins but we kind of need a peep or two from their developers to even consider it.

fryarminer

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I think Casascius' idea is a great one! How can it be implemented? Who do we need to convince?

CoinHoarder

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Quote from: darkota on July 05, 2014, 12:38:02 PM

Quote from: CoinHoarder on July 05, 2014, 12:32:09 PM

The crypto world would be a better place if we worked together. It is odd that both sides here (Bitcoin and Litecoin) are not interested in working together to do this.

I found it pretty disturbing most people in the Litecoin community didn't want to do it. I guess it's gonna take a $0.50 Litecoin before they will do anything. One of their biggest slogans right now is "we help with Bitcoin development", but IMO if they truly wanted to help Bitcoin then they would be more open to implementing this.

Dude, Litecoin is already freaking dead.

It has had no updates/features/anything added by it's developer

It has an extreme lack of community, Dogecoin's puts it to shame

It has no first mover status

It has no adoption by any major organizations/companies at all

Leave that dead coin alone please. No one wants to affiliate a shit alt-coin like Litecoin, with Bitcoin.

Shut up already bro. Anyone that cares knows your opinion after you repeated it the first 500 times. This thread is about securing Bitcoin and saving Litecoin.

darkota

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Quote from: CoinHoarder on July 05, 2014, 12:32:09 PM

The crypto world would be a better place if we worked together. It is odd that both sides here (Bitcoin and Litecoin) are not interested in working together to do this.

I found it pretty disturbing most people in the Litecoin community didn't want to do it. I guess it's gonna take a $0.50 Litecoin before they will do anything. One of their biggest slogans right now is "we help with Bitcoin development", but IMO if they truly wanted to help Bitcoin then they would be more open to implementing this.

Dude, Litecoin is already freaking dead.

It has had no updates/features/anything added by it's developer

It has an extreme lack of community, Dogecoin's puts it to shame

It has no first mover status

It has no adoption by any major organizations/companies at all

Leave that dead coin alone please. No one wants to affiliate a shit alt-coin like Litecoin, with Bitcoin.

Topic: Using Litecoin To Protect Bitcoin Versus 51% Attacks - By Casascius - page 2. (Read 3030 times)