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Knee jerk reaction: Good. However since it is a 'Bitcoin cash' type coin this will ultimately hurt bitcoin and the community as a whole. I can already see the

Knee jerk reaction: Good. However since it is a 'Bitcoin cash' type coin this will ultimately hurt bitcoin and the community as a whole. I can already see the buzz "Bitcoin double spending attack!" articles

mr_spothawk 8y ago
seems more ammo for the argument by Bitcoin Maximalists - cant easily own/manipulate a larger network
- jadedhacker 8y ago
  Also minimalists.
  - mr_spothawk 8y ago
    ah, yes. never forget the devil you know.
- cm2187 8y ago
  Particularly when the mining is concentrated in a handful of big players in the same jurisdiction with an authoritarian state...
XR0CSWV3h3kZWg 8y ago
As someone that follows the space partially because it's a really cool story, I am amped about all of the attacks these days! It looks like there weren't any protocol failures or anything that made the attack easier. It's a simple case of 51% attack. The hashrate for BTG is well below most other coins, a modest miner on another coin could easily switch and execute the attack, then switch back to their main coin and not have to pay large transaction costs for hardware acq or rental costs.
jmeyer2k 8y ago
I don't have an opinion on BTC vs. BCH, but I think network innovation through competition of these coins is ultimately a good thing. The free market will dictate what each of them is worth for different use cases. In any case, increased competition will increase the quality of Bitcoin and cryptocurrency as a whole.
m-p-3 8y ago
To be fair I had to reread the title, as I initially read Bitcoin without focusing on the word Gold.
rwcarlsen 8y ago
Bitcoin gold uses a different hashing algorithm than bitcoin and bitcoin cash. Because of this, this fork was not able to take advantage of the enormous resources invested in the original bitcoin mining community like bitcoin cash was able to. There is still orders of magnitude more cost involved in attacking bitcoin cash (and bitcoin) than it was to attack bitcoin gold. [edit] Also - bitcoin gold uses GPU mining - so one does not need to acquire specialized hardware to mine/attack it - and the hardware involved can be resold for other uses recovering a significant part of the capital cost. Or you could just rent it from the cloud.

mr_spothawk 8y ago

seems more ammo for the argument by Bitcoin Maximalists - cant easily own/manipulate a larger network

jadedhacker 8y ago
Also minimalists.
- mr_spothawk 8y ago
  ah, yes. never forget the devil you know.
cm2187 8y ago
Particularly when the mining is concentrated in a handful of big players in the same jurisdiction with an authoritarian state...

XR0CSWV3h3kZWg 8y ago

As someone that follows the space partially because it's a really cool story, I am amped about all of the attacks these days! It looks like there weren't any protocol failures or anything that made the attack easier. It's a simple case of 51% attack. The hashrate for BTG is well below most other coins, a modest miner on another coin could easily switch and execute the attack, then switch back to their main coin and not have to pay large transaction costs for hardware acq or rental costs.

jmeyer2k 8y ago

I don't have an opinion on BTC vs. BCH, but I think network innovation through competition of these coins is ultimately a good thing. The free market will dictate what each of them is worth for different use cases. In any case, increased competition will increase the quality of Bitcoin and cryptocurrency as a whole.

m-p-3 8y ago

To be fair I had to reread the title, as I initially read Bitcoin without focusing on the word Gold.

rwcarlsen 8y ago

Bitcoin gold uses a different hashing algorithm than bitcoin and bitcoin cash. Because of this, this fork was not able to take advantage of the enormous resources invested in the original bitcoin mining community like bitcoin cash was able to. There is still orders of magnitude more cost involved in attacking bitcoin cash (and bitcoin) than it was to attack bitcoin gold. [edit] Also - bitcoin gold uses GPU mining - so one does not need to acquire specialized hardware to mine/attack it - and the hardware involved can be resold for other uses recovering a significant part of the capital cost. Or you could just rent it from the cloud.