public inbox for bitcoindev@googlegroups.com
 help / color / mirror / Atom feed
From: "Luke-Jr" <luke@dashjr.org>
To: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] Looking for GREAT C++ developer for exciting opportunity in bitcoin space
Date: Tue, 31 Dec 2013 01:14:05 +0000	[thread overview]
Message-ID: <201312310114.05600.luke@dashjr.org> (raw)
In-Reply-To: <20131230232225.GA10594@tilt>

On Monday, December 30, 2013 11:22:25 PM Peter Todd wrote:
> that you are using merge-mining is a red-flag because without majority, or
> at least near-majority, hashing power an attacker can 51% attack your
> altcoin at negligible cost by re-using existing hashing power.

I strongly disagree on this isolated point. Using the same logic, Bitcoin is 
vulnerable to an attacker at negligible cost by re-using existing hashing 
power from mining Namecoin. Any non-scam altcoin is pretty safe using merged 
mining, since any would-be attacker is going to have it in their interests to 
invest in the altcoin instead of attacking it. It's only the scam ones that 
want to pump & dump with no improvements, that are really at risk here.

The rational decision for a non-scam altcoin, is to take advantage of merged 
mining to get as much security as possible. There are also some possible 
tricks to get the full security of the bitcoin miners even when not all 
participate in your altcoin (but this area probably needs some studying to get 
right).

Luke



  reply	other threads:[~2013-12-31  1:14 UTC|newest]

Thread overview: 26+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2013-12-29 18:53 [Bitcoin-development] Looking for GREAT C++ developer for exciting opportunity in bitcoin space Evan Duffield
2013-12-29 19:27 ` Matt Corallo
2013-12-30 23:22 ` Peter Todd
2013-12-31  1:14   ` Luke-Jr [this message]
2013-12-31  7:28     ` [Bitcoin-development] Merge mining Jeremy Spilman
2013-12-31  7:38       ` rob.golding
2014-01-04  8:49         ` David Vorick
2014-01-04 10:05           ` Jorge Timón
2014-01-04 10:08             ` David Vorick
2014-01-04 10:34               ` Jorge Timón
2014-01-01  4:53     ` [Bitcoin-development] The insecurity of merge-mining Peter Todd
2014-01-01  5:09       ` Luke-Jr
2014-01-01  5:25         ` Peter Todd
2014-01-03 19:14       ` Jorge Timón
2014-01-03 21:01         ` Peter Todd
2014-01-04  0:27           ` Jorge Timón
2014-01-06 15:44             ` Peter Todd
2014-01-09 17:19               ` Jorge Timón
2014-01-10 11:11                 ` Peter Todd
2014-01-10 11:25                   ` Peter Todd
2014-01-10 12:37                     ` Jorge Timón
2014-01-10 12:29                   ` Jorge Timón
2014-01-10 17:22                     ` Peter Todd
2014-01-10 18:50                       ` Jorge Timón
2014-01-03  5:11 ` [Bitcoin-development] Looking for GREAT C++ developer for exciting opportunity in bitcoin space Troy Benjegerdes
2013-12-29 19:10 Jérémie Dubois-Lacoste

Reply instructions:

You may reply publicly to this message via plain-text email
using any one of the following methods:

* Save the following mbox file, import it into your mail client,
  and reply-to-all from there: mbox

  Avoid top-posting and favor interleaved quoting:
  https://en.wikipedia.org/wiki/Posting_style#Interleaved_style

* Reply using the --to, --cc, and --in-reply-to
  switches of git-send-email(1):

  git send-email \
    --in-reply-to=201312310114.05600.luke@dashjr.org \
    --to=luke@dashjr.org \
    --cc=bitcoin-development@lists.sourceforge.net \
    /path/to/YOUR_REPLY

  https://kernel.org/pub/software/scm/git/docs/git-send-email.html

* If your mail client supports setting the In-Reply-To header
  via mailto: links, try the mailto: link
Be sure your reply has a Subject: header at the top and a blank line before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox