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🇵🇸 whoever loves Digit
2w ago
Doggie coin and Monero have both had 0 successful 51% attacks in their times, just like Bitcoin
Bitcoin is the biggest target and gets its security from the strongest defense
Doggie coin and Monero are smaller targets and get their security from proportional defense
Being profitable to mine with a cpu or gpu (instead of an asic) also helps ensure an unknown number of miners can be waiting to join the network at any time
Bitcoin is the biggest target and gets its security from the strongest defense
Doggie coin and Monero are smaller targets and get their security from proportional defense
Being profitable to mine with a cpu or gpu (instead of an asic) also helps ensure an unknown number of miners can be waiting to join the network at any time
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YODL
@YODL
2w ago
That's a pretty good answer.
I wonder what the cost actually would be. Arguably it's easier to mount a surprise attack on networks not using asics. For example, when doge went wild a few years ago, I have to imagine the mining took some time to catch up, and there might have been a window where a large actor on sideline might find it profitable to surprise attack while shorting it...
I wonder what the cost actually would be. Arguably it's easier to mount a surprise attack on networks not using asics. For example, when doge went wild a few years ago, I have to imagine the mining took some time to catch up, and there might have been a window where a large actor on sideline might find it profitable to surprise attack while shorting it...
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🇵🇸 whoever loves Digit
@whoeverlovesDigit
2w ago
Doge network is pretty huge. The market cap of the coin was in the millions of grams of gold that whole time. I don't know what that means for how many mining rigs are running it at a given time, but it's also been one of the most popular coins to mine over the time it's existed
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YODL
@YODL
♥︎ by author
2w ago
Rough numbers, BTC about 67x market cap of doge. According to Google BTC network 580,000x more hash than lite coin (as of may 2024). I might be wrong to use litecoin hashrate, but my understanding is its merge mined and so litecoin mining is what secures it.
That feels like a juicy target to me, and I'm sure it's been discussed before, I just don't know the argument(s).
Not expecting you to research and answer for me or anything, just thinking aloud
That feels like a juicy target to me, and I'm sure it's been discussed before, I just don't know the argument(s).
Not expecting you to research and answer for me or anything, just thinking aloud
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🇵🇸 whoever loves Digit
@whoeverlovesDigit
2w ago
You sent me down a bit of a rabbit hole.
I read a bit about merge mining and I still have no idea what it means.
However,
I read a bit about merge mining and I still have no idea what it means.
However,
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YODL
@YODL
♥︎ by author
2w ago
Sorry about that haha
Close hash rates but not enough to be considered identical, so perhaps there's more to it.
However, either one, or even the combined amount is waaay less than bitcoin even though market cap is relatively speaking a lot closer.
Maybe monero a better example to look, even though the profit by shorting mechanism is probably less available since it's not traded on places like RH.
Anyway, prob enough talking out of my ass for one day 😶🌫️
Close hash rates but not enough to be considered identical, so perhaps there's more to it.
However, either one, or even the combined amount is waaay less than bitcoin even though market cap is relatively speaking a lot closer.
Maybe monero a better example to look, even though the profit by shorting mechanism is probably less available since it's not traded on places like RH.
Anyway, prob enough talking out of my ass for one day 😶🌫️
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