Will bitcoin prevent this, or is that as much a lie as "free transactions"?

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[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (8 children)

51% attacks can only double spend coins and prevent transactions from being confirmed, they can't take your money.

[–]Tom_Bombadil 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (4 children)

Pirate chain is resistant to 51% attacks.

https://pirate.black/developers-resources/

The developers who created Pirate Chain believe the best use of the Zcash privacy protocol is a chain that enforces private transactions only. Delayed Proof of Work (dPoW) protects Pirate’s blockchain from double spends and 51% attacks by attaching a backup of the ARRR chain to the Litecoin & Komodo Blockchain. In order to 51% attack Pirate, you would have to first 51% attack Litecoin & Komodo. This increases security dramatically to the point that an attack is nearly impossible.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Nifty, too bad I can't buy it on any of my exchanges. It's doing amazing today.

[–]Tom_Bombadil 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Tradeogre.

No KYC (privacy coin).

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Very interesting. But is it fungible and quantum-computing resistant?

[–]Tom_Bombadil 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yup. See other comment.

[–]Canbot[S] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

That doesn't make sense. If a minority is in conflict with the majority the minority loses. Otherwise a minority can perpetrate a fraud and that is an even bigger problem.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

That's what the bitcoin wiki claims: https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power

[–]Canbot[S] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

You can't trust bitcoin salesmen to tell you the truth about bitcoin. A lot of the things they said have turned out to be lies. Like how secure it is, how anonymous it is, how free it is to use, etc.