Bitcoin Price Hits All-Time High of $19,786, Topping 2017 Record

Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by X6S1x6Okd1st on Monday November 30, 2020 @01:08PM (#25256863)

Given that ETH is the second biggest cryptocurrency it will be a great stress test of the security properties of proof of stake.

Honestly if it runs successfully for multiple staking periods I don't think there will be much of an argument for PoW cryptocurrencies that aren't the dominate coin in their respective type of work. Essentially all coins that share a proof of work with a larger coin are constantly at risk of a 51% attack. We've seen it before with bitcoin forks.

Proof of work's security properties are broken for everything that isn't BTC, ETH (although this will change soon) and whatever the dominate CPU coin is (Monero?)

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Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by tromp on Tuesday December 01, 2020 @06:30AM (#25264339)

> Proof of work's security properties are broken for everything that isn't BTC, ETH (although this will change soon) and whatever the dominate CPU coin is

PoW secures any coin that dominates the daily issuance of all coins (efficiently) using the same hardware. So the different hardware classes are

CPUs

GPUs

SHA256 ASICs

scrypt ASICs

Equihash ASICs

X11 ASICs

etc...

and each one can secure one dominant coin.

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