Re: [Bitcoin-development] Merge mining

2014-01-04 Thread David Vorick
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.gold...@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


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Re: [Bitcoin-development] Merge mining

2014-01-04 Thread Jorge Timón
On 1/4/14, David Vorick david.vor...@gmail.com wrote:
 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.

The launch thread says it clear: very scrypt, such random, much
profit, wow, many coin.
So it seems that Dogecoin doesn't use SHA256 like Bitcoin, but scrypt
like most of the other scamcoins.
Anyway, I don't see anything in your comment in favor or against
merged mining...

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Re: [Bitcoin-development] Merge mining

2013-12-31 Thread rob . golding
 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

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