On the growing risk of the 51% attack against BCash • Hacker News Board

Re: On the growing risk of the 51% attack against BCash

#61

Post by clarents » Sat, Dec 23, 2017, 12:28 PM UTC

vongesell wrote: post #59

fizzbuzzbazz3 wrote: post #53

Earlier quoted context omitted.

There are many technical reasons, but I'll respond differently. Bitcoin is not a business-coin. Bitcoin is an idea-coin. It was never about the price, the price is just a side-effect. For many early adopters and developers, Bitcoin is about changing the world. Not in a marketing bullshit-world, but in a real way. We really believe that the world would be a better place if we've put a stop to government and banks mono…

I couldn't agree more. I'll add, if you are interested in making money there are plenty of coin's, including BCash, to spend your time with. Go for it. But if you are interested in something beyond speculation, it's pretty hard to ignore the shady reputations and ecosystem of many of the most valuable blockchains. Dash written and rewritten to centralize everything to Evan. Ripple is basically the first ICO with all…

While I'd agree that Ethereum was not created with an intent of scammyness, I wouldn't single it out as an outlier for good behavior. The dream of Ethereum was "code as law," yet key players have demonstrated the ability and willingness to implement hard forks in order to undo unpopular outcomes of valid Solidity code. So while I don't believe Ethereum was created with a scammy intent, I think it is certainly too premature for public release, and attempts to "fix" issues caused by this immaturity has let to some scammy behavior.

Re: On the growing risk of the 51% attack against BCash

#62

Post by cies » Mon, Jan 01, 2018, 9:56 AM UTC

Sir_Substance wrote: post #50

tree_of_item wrote: post #38

Earlier quoted context omitted.

How could you possibly sue someone for double spending on a blockchain? I don't get it, isn't the point of this blockchain stuff to be the wild west? What is the grounds for a lawsuit? Why would a 51% attack be illegal? "Code is law", right?

>I don't get it, isn't the point of this blockchain stuff to be the wild west? I guarantee you no judge in the world is going to accept that interpretation. >"Code is law", right? From a legal perspective, obviously not, and given how well accepted the etherium hard fork was in the wake of the DOA smart contract being exploited, you can be pretty sure that a large percentage of the crypto-user population doesn't thin…

Cardano is speaking out in favour of "code is law". Not sure what they do when faced with an actual catastrophy. There are others also taking this stance to some extend.

Anyway, Cardano is cool (Haskell, PoS, lots of papers published)

Re: On the growing risk of the 51% attack against BCash

#63

Post by MintPattern » Fri, Jan 05, 2018, 10:43 PM UTC

toomim wrote: post #56

MintPattern wrote: post #33

Earlier quoted context omitted.

It’s called bcash in hopes that too many newbies won’t go deposit bitcoin into a “bitcoin cash” address and sadly lose it all.

Again, this is a myth spread by people trying to tarnish Bitcoin Cash's image. The truth is that the money can't be lost. If you have the Bitcoin Cash private keys for the deposit address, you have the Bitcoin Core private keys on the Core chain. All that happens is that someone accidentally receives Bitcoin Core instead of Cash.

A lot of newbies put everything on an online exchange and don't bother with handling private keys. I haven't found a single exchange yet where you control the private keys. The public keys on exchanges I've seen are different for Bitcoin Cash and Bitcoin. Also, can you imagine the end result of paying for a good or service that accepts Bitcoin with Bcash?