51% attack pool against ETC

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Comments

  • rawmeenrawmeen Member Posts: 79
    @dlehenky Sorry to hear that you're taking a break as I always enjoyed your input. All the best and thanks again for everything.
  • heandog69heandog69 Member Posts: 283 ✭✭
    Made about 90 dollars on etc over night i thank you sirs
  • malefactormalefactor Member Posts: 12
    work said:


    Attacking the weaker chain serves a very specific purpose - to prove one chain dominant, once and for all. ETC is seriously weak by comparison to Eth, and proving that ETC offers nothing in the way of immutability would be a grand lesson for many.

    This attitude is unacceptable, and you have driven me from supporting ETH+fork to support ETC by having it.

    I could just as easily say "ETH's greater capabilities are threatening the strength of BTC" [and they are], "so the BTC hashpower should 51% attack ETH".

    This internicene war attitude is what must be crushed. The other chain must live or die on its own merits. This is a failure of leadership.

  • wirelessnet2wirelessnet2 Member Posts: 385 ✭✭✭
    that 51pool shit aint gonna work
  • HashingTurtleHashingTurtle Member Posts: 107
    Emotions are running high with some of the miners. "Who did what" is done, get past it. All the "what if, what if, what if", is not worth the time and energy. Anyone proposing to attack 'any' coin, I personally will not support.

    Pick your coin. Go mine, make smart contracts, speculate, maybe learn the language and program.

    Hate is a wasted emotion.
  • snowcap420snowcap420 Member Posts: 19
    Hey losers how you like our reverse attack on your pool?Or the fact that F2Pool is now involved in securing the ETC blockchain?I told you guys you aint shit and now Im showing you.LMAO
  • snowcap420snowcap420 Member Posts: 19
    edited August 2016
    Our ETC counter attack made the news

    http://www.livebitcoinnews.com/ethereum-classic-attack-pool-under-ddos-attacks/


    Hey at least we got a good laugh at your expense and now were going to transfer away more and more ETH wealth day by the day.Grab some popcorn its gonna be good.LOL

    Dump your ETH while is still worth something..................
  • wirelessnet2wirelessnet2 Member Posts: 385 ✭✭✭
    ETC at 700 Gh/s. 51pool at 300 MH. Good luck
  • fuchs_itfuchs_it Member Posts: 36

    Our ETC counter attack made the news

    http://www.livebitcoinnews.com/ethereum-classic-attack-pool-under-ddos-attacks/


    Hey at least we got a good laugh at your expense and now were going to transfer away more and more ETH wealth day by the day.Grab some popcorn its gonna be good.LOL

    Dump your ETH while is still worth something..................

    "code is law unless it is something that hurts us, then it's unfair... so we're going to retaliate by violating internet security laws of most of the people posting here."

    this is basically how a newbie is reading and interpreting this whole situation and your response.
  • cepnicepni Member Posts: 27
    Do the ETC supporters know that miners mine ETC only because its profitable?
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016
    cepni said:

    Do the ETC supporters know that miners mine ETC only because its profitable?

    Everyone is different, so reasons may vary, but profit does help
  • garrett92895garrett92895 Member Posts: 39
    There were people who mined it from the beginning with block 1920000 because they didn't believe in the HF. I respect those people for sticking to their principles, whether or not I agree with their decision. It seems that most of the ETC GH/s is coming either from a profitability standpoint, from the uncertainty surround ETH right now, or from people jumping on the bandwagon. We'll see how much support ETC gets once the hacker dumps his 7.2 million ETC and makes a killing thanks to everyone supporting the chain.
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016
    did I miss the open letter saying he is going to dump? Please provide the 'credible' link where he says he's going to dump.
  • garrett92895garrett92895 Member Posts: 39
    If he dumped right now he would earn ~$16 mil. Can I cite an obvious incentive?
  • HashingTurtleHashingTurtle Member Posts: 107
    I believe it would be called "Investment into the future" for the potenetial to make a lot more. And you didn't answer my question, "Where's the 'credible' link where he says he's going to dump?
  • garrett92895garrett92895 Member Posts: 39
    Do you think he hacked the DAO because he believed in the future of an alternate form of ETH? He did it for profit, and he would be an idiot to not try and maximize his earnings. At some point he will capitalize, or at least that seems to me like the pretty obvious course of action.

    In order to provide you with a 'credible' link, he would have to announce that he is going to dump and then somehow provide proof that he has the private key to 0xb136707642a4ea12fb4bae820f03d2562ebff487. Announcing that you're going to dump 7.2 million ETC and then proving that you have the capability to do so is not exactly the best way to increase the price and make the market feel good about the coin.

    I'm sorry you didn't realize all of this is speculation.
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016
    I just see everyone claiming it as fact. I would expect any accountant or tax advisor to suggest to him that cashing out quickly (all in the same year) would be the biggest tax mistake possible.
  • ImAMiner?ImAMiner? Member Posts: 208 ✭✭
    taxes? ha. He won't cash out quickly because he would crash the market. There will be a crash though, this has the makings of a huge pump and dump. Hopefully the price will be so low he'll only get a dozen or so btc. In the meantime ride the wave.
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016
    What credible information are you referring to that claim "there will be a crash"? I'm not being sarcastic, I'm trying to learn.
  • ImAMiner?ImAMiner? Member Posts: 208 ✭✭
    Credible? In the crypto world? That's just bonkers.

    If you don't think there will be a crash days before the attacker gets his hands on 7.2M ETC then keep buying into it.

    Polo should have never added this coin. They never would've if it had any other name. 700 gh/s just is not secure enough, too easy to 51 it. But they are in it for the money and it was a quick buck. (The attacker may even have contact with them for all we know) You probably think the hashrate is growing everyday because people actually believe in it. Nope, miners go where the money is, I'm mining it and I don't like it. As soon as the price drops, miners will move back to eth, the network hashrate for etc will drop and then someone will attack it.

    If you want to make money at crypto, don't get emotionally attached. Don't get caught holding etc or at least too much of it if you really like it. When the attacker gets his etc, suddenly there will be a huge supply. You may be right that he might burn it but I wouldn't do that if I were him and I don't want to take that chance.
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016
    @I'mAMiner?
    You still made the claim and didn't answer the question,
    What credible information are you referring to that claim "there will be a crash"?
    What any exchange did or didn't do, for any reason, does not support your claim "there will be a crash".
    Where the miners go, does not support your claim "there will be a crash".
    "As soon as the price drops", can be claimed by every coin every day.
    Hashrates for coins go up and down every day for pretty much any coin of value.
    Emotionally attached to a coin could be considered anyone mining ETH right now instead of ETC (discounting the miners that don't want to take the time to edit umpteen rigs to change coins).

    Dont get caught holding...I've got some ETC right now, yesterday...double digit increase, I sold X%, today double digit increase I sold X%.

    I'm just a miner, wanting more than the electric cost. Don't care about coin emotion.

    Back to the unanswered question.... What credible information are you referring to your claim "there will be a crash"?
  • garrett92895garrett92895 Member Posts: 39
    @HashingTurtle when someone sells a sizeable chunk of a coin's market cap, it crashes. If the market knows that a major dump is about to take place, people will start to cash out. Nobody invests in a coin that is about to crash.

    @ImAMiner? doesn't the hacker already have access to his ETC? I thought that it had all been pulled from TheDarkDAO into ETC
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016

    @HashingTurtle when someone sells a sizeable chunk of a coin's market cap, it crashes. If the market knows that a major dump is about to take place, people will start to cash out. Nobody invests in a coin that is about to crash.

    @ImAMiner? @garrett92895 doesn't the hacker already have access to his ETC? I thought that it had all been pulled from TheDarkDAO into ETC

    @ImAMiner? You made the statement "there will be a crash". Still looking for information to justify your statement. Please provide credible links. You have not provided them for your statement.
  • ImAMiner?ImAMiner? Member Posts: 208 ✭✭
    @HashingTurtle What exactly are you expecting? A link to some economics expert saying "there is going to be an ETC crash on August 8, beware" It's just not there and you know that. I answered your question in my first line, there is no credibility in crypto. So your reply is going to be something like, see I told you, you don't have credible information. Well guess what I never said I had credible information. Did I say hey turtle, I've got credible info there will be a crash but I'm not going to show it to you? Nope. I can only relay my experiences with the market over the past few years, which I did. Just like @garrett92895 said, there's going to be a huge influx of ETC into the market, the price will drop.

    @garrett92895 I read on these forums somewhere that the attacker does not have his ETC yet because he had to create a new dark dao on the ETC chain and wait for that timeline to end so he can retrieve the ETC. There's a little about it here. https://www.reddit.com/r/ethereum/comments/4ukefq/attacker_has_withdrawn_all_etc_from_darkdao_on/
  • HashingTurtleHashingTurtle Member Posts: 107
    edited August 2016
    Nope!... Not looking for experts, just looking for documentation to backup your claims I think could only be found in a crystal ball. You made the claims, so back them up! If not, please state that this is your opinoin.
  • ImAMiner?ImAMiner? Member Posts: 208 ✭✭
  • HashingTurtleHashingTurtle Member Posts: 107
    ImAMiner? said:

    Here's a link

    I could only suffer through < 1 min. I took ECON 101. ETC is up 37% for the day, 20 some odd % yesterday.
    Still looking for someone to justify the "crash" claim. No one seems to be willing to do that. they try to change the subject.
    All this talk and my Polo account value keeps rising.
  • newmznewmz AustraliaMember Posts: 299 ✭✭✭
    I think the "crash" claim is based on what everyone knows and can guess or assume about the future of ETC. Right now traders (many of whom probably don't know much of the back story - they just see the numbers) are buying because they see a commodity that has a rapid upwards trend in price. It's "new" (sorta) and like most "new" coins there is initial interest and speculative investment so the price is driven up. Also miners are seeing that they can make a short term profit so it looks like the infrastructure is growing. BUT it has no real community, no credible developers, no equivalent foundation and no one who sees it as having long term potential. It's really just a protest from the minority who didn't like the hard fork, and also it was given some credibility when Poloniex cynically listed it so they could milk it.
    The main reason we see a crash coming is because there is the elephant in the room - the DOA hacker/s who have a massive amount of ETC which they do doubt want to turn into real money, otherwise what was the point of the hack right? So obviously they wont dump it all at once, they will try to trickle it out, but there is just so much of it. At some point they will try bigger sells which will effect the price downwards pretty dramatically. Anyone who knows what is going on will know what this is and also know that the end is near, so they will panic sell, the price will drop more, more people panic sell and it'll spiral down very quickly until (hopefully) ETC is pretty much worthless and dead.
    Maybe this is really obvious or maybe I'm totally wrong - I don't have any training in economics at all. It's just what I think will happen. Am I wrong?
  • ImAMiner?ImAMiner? Member Posts: 208 ✭✭
    @newmz I don't think you're wrong. Good explanation.
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    ImAMiner? said:

    @newmz I don't think you're wrong. Good explanation.

    Agreed. He's 100% right.

    Ironically, ETC people are being played for pawns / useful idiots, all while subsidizing TheDAO exploiter who will see to their inevitable end, as ETC is relegated to clonecoin/altcoin status @ $0 where it belongs.

    Such is the circle of life.
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