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Consensus coins are not "unhackable". All it takes is a majority of the miners to agree, and poof, the whole coin can be changed. The moment it is no longer possible for the Chinese miners to make a profit you will see exactly this happen. They will simply come up with a new code that increases the coin award and then all follow that fork. Call it a "hack" or whatever you want, these coins are far from breing actually secure.
Also: Rage downvoting is the currency of people who have lost a debate. Enjoy your faggotry, loser faggots.
Consensus coins are not "unhackable". All it takes is a majority of the miners to agree, and poof, the whole coin can be changed.
Right. And the chances of the majority of miners all agreeing to give some guy in venezuela free bitcoin is pretty low. Hence the requirement for "jacking off."
Edit: I just realised you're talking about forking, which is even less valid as an argument. By that metric gold is insecure because I could start a competing currency made from tinfoil.
Or you know, green paper rectangles.
Bit different given that the people behind those ordered everyone's gold be confiscated.
The majority of miners are ALL IN CHINA you literal retard. That means that they can be ordered by the CCP to do whatever the hell they say. Holy shit, quit drinking the kool aid the Bitcoin shills are selling.
The majority of miners are ALL IN CHINA you literal retard. That means that they can be ordered by the CCP to do whatever the hell they say. Holy shit, quit drinking the kool aid the Bitcoin shills are selling.
Which would cause a lot of disruption for around a week before the network decided to start ignoring chinese nodes and all of those miners saw their investments go up in smoke.
A fork is not a hack, bitcoin cash tried that shit and it's dead'r than hell. But more to the point, FB, Google, Twitter, Apple, ad infinitum individually use more resources than the mining of bitcoin. Bitcoin set us free and ethereum is the rock btc will be it's church on.
Semantics
Call it whatever you want, the coin code CAN be changed and is therefore NOT SECURE at all. Thus far there has not been a 51% attack on any coin of note, but that will change when the economics or political, etc impetus to do so arrives.
Ok, that's what's great about bringing the free market to money. EasyDNS just , they just recently picked up litecoin. If a coin gets "hacked" we can change it out. The alternative is centralized fiat, which was hacked in 1911. We've been living with that hack for over 100 years and we don't have too anymore. Don't let the perfect be the enemy of the good.
Call it whatever you want, the coin code CAN be changed and is therefore NOT SECURE at all.
It can be forked, which doesn't affect the original blockchain in any way.
Thus far there has not been a 51% attack on any coin of note, but that will change when the economics or political, etc impetus to do so arrives.
As coins get bigger and more popular it gets harder to do a 51% attack, not easier.
Is rage upvoting the currency of people who have won a debate?
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