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Would they really want an easily tradable currency to replace giftcards? I don't know what the redemption rate of gift cards is, but I imagine it's much less th

Would they really want an easily tradable currency to replace giftcards? I don't know what the redemption rate of gift cards is, but I imagine it's much less than 100%, which is pure profit. Also, people have an incentive to concentrate on the strongest currency. The one with the most mining is most secure against 51% attacks, and the one with the most users is most useful.

penguindev 13y ago
> The one with the most mining is most secure against 51% attacks Do you mean: A. an attack by the rest of the earth's computing power (e.g. you try to have miners control 51% of the earth's computing power - highly doubtful) or B. an attack by colluding mining pools? It seems like the B (collusion) attack is simply a matter of the number of pools which have to collude, and not actually related to the absolute value of CPU power. And for A, I'm struggling to see how much [non-colluded] miner power you'd need to fight off an external attack.