There is probably enough ethash hashing power available to rent, that it wouldn't be hard to run a 51% attack soon, presuming the chain diff drops a bit more.
I suppose it could be done as an Eth pool which, once enough hashrate was active, switched to creating a private chain on ETC. Even with 70-120 ETC confirmations required on existing exchanges, a double spend wouldn't be too difficult.
Just one day of 51% attack blocking their transactions and the coin would lose all credibility and people would sell as soon as they could. making the coin disappear for good.
@blckeagls that's actually fairly smart. Just refuse to include any transactions in the chain, and only mine on your own blocks. Other miners should rapidly give up too, when they aren't making any money and all their blocks are getting orphaned (because, of course, you don't include uncles either).
Combine that with a pool that mines and pays Eth until it has enough hashrate to attack the ETC chain, and I think this might actually work.
@blckeagls that's actually fairly smart. Just refuse to include any transactions in the chain, and only mine on your own blocks. Other miners should rapidly give up too, when they aren't making any money and all their blocks are getting orphaned (because, of course, you don't include uncles either).
Combine that with a pool that mines and pays Eth until it has enough hashrate to attack the ETC chain, and I think this might actually work.
Agreed^ this could definitely work with a decent amount of hashrate power going towards it.
Personally I believe ETH will go back to gaining traction once ETC dies off. Killing off ETC would make ETH mining more profitable.
The way I see it, the die hard ETC supporters have a coin going simply because they lost the vote. A few hurting the majority simply because they didn't get their way.
@adaseb@dlehenky hit the nail on the head. There has been a bunch of supposed ETC supporters popping up saying they'll dev for ETC, when it's pretty clear they are just trying to split the community and have no intention of contributing. Blockstream/Core team is playing at least a decent role in all this.
ETC is the losing chain... by a HUGE margin. Continuing to perpetuate the losing chain is just childish - clearly the majority were for the hardfork, and the minority are refusing to accept that by kicking and screaming. VB and Co are trying to be adult and supportive about the situation, but there's really nothing adult about it at this point.
BTW, I'd be happy to mine on the ETH pool you are discussing above. What would be great is if we could get an establish pool to host it, like say MPH or similar, although I would guess that would be a long shot.
Ever since ETC was released, I made double-triple mining revenue everyday. If both chains stay alive, it will distribute the mining hashpower and keep the difficulties lower and better for miners.
I'm trying to contact Chandler Guo to see if he could help in any way. Especially his hashing power. Plus he has already made the threat to do it so im sure he would get in on it.
I don't really care about any of this chains... Currently ETC is more profitable to mine and i mine it. If ETH becomes more profitable later i will mine that one and thats is the end of it....
@ed1 no... down with the losing chain. Must punish anyone contributing. Any miners mining ETC need to lose a bunch of their mining time so they learn a lesson about supporting losing forks.
@work Not sure if you meant that with /sarcasm/ or not; I can see it both ways. It's as if we had an election, and now the winning candidate, by a wide margin no less, has to duke it out with the loser in order to take office (through no choice of their own).
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Already eddited geth code. Just need to test and build a pool.....
https://github.com/blckeagls/go-ethereum
Combine that with a pool that mines and pays Eth until it has enough hashrate to attack the ETC chain, and I think this might actually work.
The way I see it, the die hard ETC supporters have a coin going simply because they lost the vote. A few hurting the majority simply because they didn't get their way.
ETC is the losing chain... by a HUGE margin. Continuing to perpetuate the losing chain is just childish - clearly the majority were for the hardfork, and the minority are refusing to accept that by kicking and screaming. VB and Co are trying to be adult and supportive about the situation, but there's really nothing adult about it at this point.
Ever since ETC was released, I made double-triple mining revenue everyday. If both chains stay alive, it will distribute the mining hashpower and keep the difficulties lower and better for miners.