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    Author Topic: -- Miner's Official Coin LAUNCH - NUGGETS (NUGS) --  (Read 121594 times)
    jackjack
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    July 16, 2013, 07:11:04 AM
     #321

    I'm not agreeing with Vlad's wild conspiracy theories, I'm just pointing out that such an attack is technically indeed not as infeasible as some seemed to imply.

    See: https://bt.irlbtc.com/view/248645.msg2640864#msg2640864

    Also as was pointed out earlier there are several comparatively efficient potential strategies to gain >50%, invest a few $M in ASICs, run major mining pools then subvert them, subvert and/or DDoS existing pools..
    I disagree with him calling that an attack to "manipulate the source code", but I can see how that sort of attack would be very damaging. I can't imagine anyone spending the money to do it though.

    Well effectively it would dictate code/protocol changes the minority of the network has to follow if they don't want to lose their coins, that's basically what "manipulate the source code" means, as jl2012 points out

    Winklevoss uses the word "manipulate", which means "to influence or manage shrewdly or deviously".

    And yeah I agree the effect would be very damaging, can't really imagine anybody doing it either though, given the still enormous resource requirements.
    "If they don't want to lose their coins"?
    If a gov gets 51% of the hash power and changes the protocol, my client will tell its blocks to fuck off and yet I'd still be able to spend my coins on the old network... The blocks my client would accept are the ones created with the non-gov client

    And if nobody switch to the gov client, the gov would hash a blockchain that is used by no one except itself

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