You Should Know This About Gen 1 Proof of Work Coins, Are They Still Viable?





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In this video, Kunal talks about Gen 1 PoW and if they are still viable or not.
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References:

https://news.bitcoin.com/proof-of-work-coins-on-high-alert-following-spate-of-51-attacks/

https://www.zpool.ca/

https://compare.digitalcoinprice.com/compare/bitcoin-vs-litecoin-vs-vertcoin
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32 replies
  1. C C
    C C says:

    At this point, proof of work coins very likely have a future. Bitcoin has not been 51% attacked for 10 years. Even with 51% of Bitcoin Hashpower, double spend attacks are super hard and there is no economic incentive for these mining pools. Also, centralization will only go down as more people get their hands on ASICs and the playing field is leveled, and MOORES law comes to an end. Also, with things like merged mining, more people with less powerful equipment will be incentivied to mine BTC without pools because even if they do not get a lot of BTC rewards, they still get the less difficulty coin that is being merged mined.

    Reply
  2. Peter Petrov
    Peter Petrov says:

    Simple is better. I'm sticking with Bitcoin. When is the last time BTC suffered a 51% attack? Not ever because it would be a waste of resources for the attacker. Weird "investors" should stop chasing the next generation Bitcoin killer because it doesn't exist. BTC has been increasing exponentially every year for 10 years and it's not gonna stop just for you. Still plenty of money to be made even if you missed the train in 2010-2013 like most of us. $100B market cap is still very small and it will continue marching forward even with the burden of all these failing s*itcoins around it. Get onboard!

    Reply
  3. ItsFlashtime
    ItsFlashtime says:

    Many people overlook this coin but Komodo is by far one of the most 51% resistance coin out there. Komodo uses delayed proof of work where the database is published to the actual bitcoin network making it virtually impossible to attack. In order to attack Komodo, the attacker would have to first successfully compromise bitcoin's network in order to attack Komodo's making it even more resistance than other coins that uses multiple algorithms. In addition Komodo is tested to be able to achieve above 20000 tps with about more than 70000 payments per second using multi-chain syncing technology. In addition Komodo also have optional Zk-snark, atomic swaps, DEX and many more.

    Reply
  4. Brandon Conwells
    Brandon Conwells says:

    I told everyone I could not invest in BTC at its current price – not that I was a hater just that I was tired of loosing, I bought at 13k at a high price and it kept on dropping, it had me regretting until someone on Altcoin Buzz channel, Recommended us to reach out to a man named Robert Wells who has made a great impact in teaching young crypto investors an Almighty Strategy to trade their Bitcoins, Its just 5months since I reached out to Him, I can Proudly boast of increasing my Portfolio from 8Btc to 43Btc . Y'all can reach out to him through His TELEGRAM +1(631)620-6929*, *HANGOUTS and Skype/Mail * *(Robertwells005@gmail.com)

    Reply
  5. Craig Candor
    Craig Candor says:

    Not only is DigiByte super fast, but it's designed to get faster over time, thus its super scalable. It has more nodes than almost all other currencies, not to mention (5) mining algorithms, protected by DigiShield and Multi-Shield, so it's way more secure. Transaction fees are microscopically cheap. DAPPs can be built on the DigiByte blockchain. Also, it already has massive market penetration because it's on a ton of exchanges, plus several wallets (Ledger, Exodus and Jaxx support it).

    Reason for DigiByte's five mining algorithms is because it makes the 51% attack virtually impossible. You could take all the Bitcoin miners in the world and make them try and attack DigiByte, and it would make no difference since they'd only get the majority of 1 of 5 algorithms. To make a successful attack on DigiByte, you'd need 93% of the hashing power on (1) algorithm and 51% of ALL (4) of the others at the same time. Long story short, attacking the DigiByte blockchain is futile.

    Reply
  6. Devang Patel
    Devang Patel says:

    I think tokenisation is bullshit controlled by some individual or group of individuals.Its just hype as of now it will fade away just like copying btc code never gave altcoins superiority in 2014.POW is not just energy consuming mechanism it ensures energy is burnt to produce something valuable.Enery is only resource which can't be retrieved back.I think in long run tokenisation of every aspect of life doesn't work as it's expensive for conversion between tokens.Secondly,all altcoins have some central point of failure which makes Bitcoin unique as it doesn't have any central point of failure.Till now all altcoins have tried to capture Bitcoin tag but of no use.Bitcoin isn't just technological marvel but it's also economically sustainable sound money because of decentralisation lacking any central point of failure.This economic importance of Bitcoin is what many computer geeks find hard to understand and all these cpu geeks comes up with new improvements in Bitcoin protocol but are completely ignorant to economics of Bitcoin and just focus on technical aspect of Bitcoin.This is very sad for all software engineers.Satoshi Nakamoto is/was not just good coder but also great economist as well.

    Reply

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