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Well it is, any copy cat coin sharing the same hashing algorithm as Bitcoin has this risk. So stay away from shitcoins. Edit: I was wrong about BTG sharing the
by fabianfabian 7y ago
Well it is, any copy cat coin sharing the same hashing algorithm as Bitcoin has this risk. So stay away from shitcoins.
Edit: I was wrong about BTG sharing the same algorithm.
- brokensegue 7y agoI don't think Bitcoin gold uses the same hash function as Bitcoin
- latchkey 7y agoCorrect, it uses equihash [1]. [1] https://bitcoingold.org/equihash-btg/ https://bitcoingold.org/equihash-btg/
- abstractbarista 7y agoI think it's more complicated than that. You'd need enough computing resources to "beat" half of the Bitcoin network's current hashrate, which is absolutely massive compared to BTG's. Oops: I see what you mean though. Because there's so many BTC miners, they can easily swap over to BTG to overwhelm the much smaller network.
- martindale 7y agoThis is part of the reason why it's most likely everything will converge on a single money. Currencies will be issued on top, rather than dividing the global effort.
- Tepix 7y agoEquihash is not SHA-256.
- deleted 7y ago[deleted]
- consp 7y agoEvery coin which uses the same proof of work method has this problem. It is independent of the actual hashing algorithm used. This is also not the first time this coin has been targeted.