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500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

coindesk.com

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Re: 500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

#11

Post by VMG »

lmm wrote: post #5

Given that the doge community has tended to be relatively "nice" rather than every-man-for-himself-libertarian, is there any chance of organizing a blacklist for these coins or some such?

I'd love to see that experiment and I'm excited to see the how the process of blacklisting would work.

What would be next? A list of "unshibeful" businesses that are blacklisted? Guns? Drugs? Alcohol?

This is the perfect experiment to see how an un-libertarian, every-man-for-every-other-man interpretation of commerce works out.

Re: 500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

#14

Post by jacquesm »

VMG wrote: post #11
lmm wrote: post #5

Given that the doge community has tended to be relatively "nice" rather than every-man-for-himself-libertarian, is there any chance of organizing a blacklist for these coins or some such?

I'd love to see that experiment and I'm excited to see the how the process of blacklisting would work. What would be next? A list of "unshibeful" businesses that are blacklisted? Guns? Drugs? Alcohol? This is the perfect experiment to see how an un-libertarian, every-man-for-every-other-man interpretation of commerce works out.

If 51% of the mining capacity of the bitcoin network decides that your coins are invalid they cease to exist until the ban is lifted.

Re: 500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

#18

Post by tinkerrr »

lmm wrote: post #5

Given that the doge community has tended to be relatively "nice" rather than every-man-for-himself-libertarian, is there any chance of organizing a blacklist for these coins or some such?

The "community" cannot blacklist anything, it's the miners. And it is very unlikely that miners with >50% of the network hashrate would agree to this, since most heavy miners don't really belong to the "community" but are just in it to mine enough to be able to sell to cover their hardware and electricity costs.

Re: 500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

#19

Post by pistle »

Any cryptocurrency of value seems to have to fall back to undesirable bureaucratic policies or be devalued by having its own ideology turned back upon itself.

The human cycles spent in monitoring and securing value will put a major drag on the ability of the currency to stabilize its value. Stable value gives currency utility. Utility gives a currency adoption. Adoption gives a currency value.

Re: 500 Million Dogecoins Mined by Unknown Hacker in Malware Attack

#20

Post by tel »

jacquesm wrote: post #14
VMG wrote: post #11

Earlier quoted context omitted.

I'd love to see that experiment and I'm excited to see the how the process of blacklisting would work. What would be next? A list of "unshibeful" businesses that are blacklisted? Guns? Drugs? Alcohol? This is the perfect experiment to see how an un-libertarian, every-man-for-every-other-man interpretation of commerce works out.

If 51% of the mining capacity of the bitcoin network decides that your coins are invalid they cease to exist until the ban is lifted.

Correct me if I'm wrong, but it's a bit heavier than that if technically identical: the coins cease to exist until 51% of miners come together again to declare that they should exist again. At which time they also might agree to pay themselves any amount of Dogecoin or flood the market.

I bring this up purely because "ban is lifted" sounds like a much more achievable thing than I believed was possible. While 51% of people might agree to blacklist some obviously illegitimate coins that harm the value of the market... it doesn't implicitly mean that they would come together again even if irrefutable evidence proved their original belief wrong.

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