As mining power grows as more people learn about the project, they can start performing 51% attacks to further disrupt the network. Eventually that crypto will collapse and they can move up to larger ones till they get to bitcoin. I don't think they would even have to target bitcoin because eventually trust would go down as publicity picks up the story and everything collapses for the better.
Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
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I was thinking about the effects on GPU prices that gamers are pissed off about and all the bad that Bitcoin and Cryptocurrency currency cause with the crime and environmental impact. There are millions of gamers around the world with powerful gaming PC's, if they started a mining pool they could at first start attacking some of the smaller Cryptocurrencies. An encrypted wallet that no one can withdrawal from could be used and the mining rewards could be used to post useless transactions to take up block space.
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#2... because we like Bitcoin? It is the currency that will debase the USD as the global reserve currency so what is there not to like about it?
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#3I don't think "gamers" have been a united group, ever. Much of the gaming community is pretty toxic towards... each other.
Some gamer tells you to install some rando software and follow their instructions... you going to do that?
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#4[deleted]
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#5> till they get to bitcoin
All the GPUs of all gamers in the world can't put a dent in bitcoin's ASIC based hashrate.
Ethereum is the best they can hope for. They better hurry up though, as it won't stay PoW for long.
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#6Most of these GPUs are mining Ethereum and not Bitcoin (ASIC is far more efficient for that). Many of the popular altcoins are not using Proof of Work either, so banding together to 51% attack them using GPUs would be moot. Ethereum will be moving to Proof of Stake later this year (maybe) as well.
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#7That would mean they'd have to... Stop playing video games?
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#8Maybe they don't want to?
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#9Why hasn't everyone banded against cryptocurrency, considering how proof-of-work is heating the world, and most/all cryptocoins have more in common with a pyramid scheme than with anything of any value?
Re: Why haven't gamers united to take down Bitcoin and other Cryptocurrencies?
#10Most of these GPUs are mining Ethereum and not Bitcoin (ASIC is far more efficient for that). Many of the popular altcoins are not using Proof of Work either, so banding together to 51% attack them using GPUs would be moot. Ethereum will be moving to Proof of Stake later this year (maybe) as well.
It would have to be starting with smaller coins with less marketcap that are easier to mine. Since some people would be scared of running a miner the miner used to start the attack would have to be open source and auditable for people to trust running the program.