can someone fill me in, I heard that byte coin might be fairly invulnerable to 51% attacks with the BTC retargeting
is this true, can someone give me the rundown? I just lost alot of faith in alternate coins from seeing my investment in terracoin cut in half with the system froze. it was whacker than whack, but I have heard bte isn't as affected by 51% attacks is this true, can someone explain this to me real quick?
much appreciated
bte is a perfect clone of bitcoin. It has all of bitcoins strengths and weaknesses. Bitcoin can be 51% attacked so can bytecoin.
so... what's stopping asics from doing to bytecoin what they did to terracoin? anything?
we are the bytecoin community, you and me and a hand full of other people. So long as we understand that a 51% attack can only do very limited damage than we wont be shaken out of our position because of it. Its important to understand that a 51% attack doesnt destroy the network, it just puts it on hold for a little while. and all the time that a person is 51% attacking is costing them lots of money, so eventually the attack will end and things will return to normal.
BBQcoin had a 51% attack early in its history. It's now ancient history. BBQcoin is a perfectly viable coin at this point in time.
As you say, a 51% attack does not destroy the network, and can really only do limited damage.
In the future, as alt-coin supporters have more hashing power, this will be much less of an issue.
