David Vorick [ARCHIVE] on Nostr: 📅 Original date posted:2014-01-04 📝 Original message:It's meant to be in favor ...
📅 Original date posted:2014-01-04
📝 Original message:It's meant to be in favor of merge mining.
Dogecoin uses scrypt, which is a very popular algorithm. If any large
currency were to be attacked through merge mining, it would probably be
litecoin miners attacking dogecoin. But if you control enough of the
litecoin network to do attack mining against dogecoin, you almost certainly
have a huge vested interest in cryptocurrencies doing well. By attacking
dogecoin successfully, you'll cast doubt on the entire cryptocurrency
ecosystem and hurt yourself in the process.
On Sat, Jan 4, 2014 at 5:05 AM, Jorge Timón <jtimon at monetize.io> wrote:
> On 1/4/14, David Vorick <david.vorick at 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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📝 Original message:It's meant to be in favor of merge mining.
Dogecoin uses scrypt, which is a very popular algorithm. If any large
currency were to be attacked through merge mining, it would probably be
litecoin miners attacking dogecoin. But if you control enough of the
litecoin network to do attack mining against dogecoin, you almost certainly
have a huge vested interest in cryptocurrencies doing well. By attacking
dogecoin successfully, you'll cast doubt on the entire cryptocurrency
ecosystem and hurt yourself in the process.
On Sat, Jan 4, 2014 at 5:05 AM, Jorge Timón <jtimon at monetize.io> wrote:
> On 1/4/14, David Vorick <david.vorick at 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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