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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Merge mining
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If you have the resources to attack one of the bigger altcoins, you
probably have a significant investment in the cryptocurrency space, and a
significant interest in protecting it. Compromising even something like
dogecoin would cause a lot of questions to be raised and likely drop the
value of bitcoin as well as all the cryptocurrencies using the same work
function as dogecoin.
Right now, there's very little benefit to attacking a significant currency,
because it would be very expensive and likely traumatize the whole system.
Unless it's some power like the NSA, I don't think there's much to worry
about.
On Tue, Dec 31, 2013 at 2:38 AM, <rob.golding@astutium.com> wrote:
> > But there's so much 'dry powder' out there (GPUs), I wonder if *not*
> > supporting merge-mining is any better? At least the attacker has to do
> > some unique PoW, so you hope it's costing them something.
>
> With lots of people having access to 100TH+ there's not really much
> 'cost' to doing a 51% attack on an alt-coin beyond a short-term
> diversion away from 'profitable' mining.
>
> At least by supporting merged mining, more miners are likely to
> 'support' multiple coin types, thus making a 51% attack from an
> individual/group less straightforward.
>
> >> The rational decision for a non-scam altcoin, is to take advantage of
> >> merged mining to get as much security as possible.
>
> Exactly.
>
> Rob
>
>
> ------------------------------------------------------------------------------
> Rapidly troubleshoot problems before they affect your business. Most IT
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Content-Type: text/html; charset=ISO-8859-1
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<div dir=3D"ltr"><div>If you have the resources to attack one of the bigger=
altcoins, you probably have a significant investment in the cryptocurrency=
space, and a significant interest in protecting it. Compromising even some=
thing like dogecoin would cause a lot of questions to be raised and likely =
drop the value of bitcoin as well as all the cryptocurrencies using the sam=
e work function as dogecoin.<br>
<br></div>Right now, there's very little benefit to attacking a signifi=
cant currency, because it would be very expensive and likely traumatize the=
whole system. Unless it's some power like the NSA, I don't think t=
here's much to worry about.<br>
</div><div class=3D"gmail_extra"><br><br><div class=3D"gmail_quote">On Tue,=
Dec 31, 2013 at 2:38 AM, <span dir=3D"ltr"><<a href=3D"mailto:rob.gold=
ing@astutium.com" target=3D"_blank">rob.golding@astutium.com</a>></span>=
wrote:<br>
<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1p=
x #ccc solid;padding-left:1ex"><div class=3D"im">> But there's so mu=
ch 'dry powder' out there (GPUs), I wonder if *not*<br>
> supporting merge-mining is any better? At least the attacker has to do=
<br>
> some unique PoW, so you hope it's costing them something.<br>
<br>
</div>With lots of people having access to 100TH+ there's not really mu=
ch<br>
'cost' to doing a 51% attack on an alt-coin beyond a short-term<br>
diversion away from 'profitable' mining.<br>
<br>
At least by supporting merged mining, more miners are likely to<br>
'support' multiple coin types, thus making a 51% attack from an<br>
individual/group less straightforward.<br>
<div class=3D"im"><br>
>> The rational decision for a non-scam altcoin, is to take advantage=
of<br>
>> merged mining to get as much security as possible.<br>
<br>
</div>Exactly.<br>
<br>
Rob<br>
<div class=3D"HOEnZb"><div class=3D"h5"><br>
---------------------------------------------------------------------------=
---<br>
Rapidly troubleshoot problems before they affect your business. Most IT<br>
organizations don't have a clear picture of how application performance=
<br>
affects their revenue. With AppDynamics, you get 100% visibility into your<=
br>
Java,.NET, & PHP application. Start your 15-day FREE TRIAL of AppDynami=
cs Pro!<br>
<a href=3D"http://pubads.g.doubleclick.net/gampad/clk?id=3D84349831&iu=
=3D/4140/ostg.clktrk" target=3D"_blank">http://pubads.g.doubleclick.net/gam=
pad/clk?id=3D84349831&iu=3D/4140/ostg.clktrk</a><br>
_______________________________________________<br>
Bitcoin-development mailing list<br>
<a href=3D"mailto:Bitcoin-development@lists.sourceforge.net">Bitcoin-develo=
pment@lists.sourceforge.net</a><br>
<a href=3D"https://lists.sourceforge.net/lists/listinfo/bitcoin-development=
" target=3D"_blank">https://lists.sourceforge.net/lists/listinfo/bitcoin-de=
velopment</a><br>
</div></div></blockquote></div><br></div>
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