What I would like more people to realize is that the bitcoin network and, by
extension, almost all cryptocurrencies can be easily compromised. Either
through blockchain spam, 51% attacks, or selfish miner exploits. (Details
about these can be found on peercoin's new website and forums) Proof-of-stake
mechanisms patch most of these vulnerabilities, but they do not solve the
centralization problem that ASIC's and other technologies pose.
Yacoin is the first (and only, to my knowledge) problem to more fully ensure
equal opportunity, low-startup-cost mining. It does this by utilizing a
mining algorithm that changes its own memory requirements on a schedule. I
think those of us who are able to understand these issues should take it upon
ourselves to share our knowledge with the ignorant majority of users. Now is
a great chance to reach out to cryptocurrency enthusiasts and help them see
the bigger picture of the ideals of crypto-anarchy.
Thanks again.
