https://www.cryptocoinsnews.com/miners-attack-ethereum-classic-polonixs-listing/
Chandler Guo, a well-known and respected figure in the Chinese digital currency community stated that he, assisted by other miners, will 51% attack Ethereum Classic as soon as possible.
Speaking to CCN, Chandler stated that they would isolate any block so that transactions cannot be confirmed which was necessary because of Polonix’s addition of Ethereum Classic as Ethc.Polonix, one of the biggest altcoin exchanges, shocked the community this morning by listing a conceptually insecure and flawed coin, Ethereum Classic, a deprecated chain that has barely any miners and thus lacks any security.The chain was fully ignored and Ethereum’s community had already moved on before Polonix made a surprising announcement while Europe and America was asleep. Ethc’s price instantly crashed to pennies, before slightly recovering while Ethereum’s price, although somewhat volatile, continues to trade above $13, down $1 dollar since the news.
Many consider Polonix’s action to be utterly reckless as Ethc’s chain can be easily double spent and due to its almost non-existent hashpower the chain can easily be made unoperational. Uninformed users or traders of that chain, perhaps perceiving the coin to have some legitimacy due to Polonix’s action, may therefore lose all of their money as the coin is fully insecure.Moreover, the development team of Ethc has clearly shown a lack of basic understanding of public blockchains and their incentives by choosing to retain the vastly discarded chain without changing proof of work, making an attack, therefore, inevitable.This wouldn’t be the first time an altcoin has been 51% attacked. Luke Jr, a Bitcoin Core contributor and Blockstream contractor, attacked and destroyed Coiledcoin back in 2012 by using Eligus, a mining pool that he owned at the time. Considering the clear incentives, an attack on Ethc, therefore, should have been expected by both Polonix and Ethc developers.
https://www.cryptocoinsnews.com/miners-attack-ethereum-classic-polonixs-listing/
Hi! I am a content-detection robot. This post is to help manual curators; I have NOT flagged you.
Here is similar content:
https://www.cryptocoinsnews.com/miners-attack-ethereum-classic-polonixs-listing/
NOTE: I cannot tell if you are the author, so ensure you have proper verification in your post (or in a reply to me), for humans to check!
I do not claim authorship.
I share news and information
it is forbidden?
Put blockquotes around it and the bot won't target you.
News written up like this won't get targeted.
Hi! I am a content-detection robot. This post is to help manual curators; I have NOT flagged you.
Here is similar content:
https://www.cryptocoinsnews.com/miners-attack-ethereum-classic-polonixs-listing/
NOTE: I cannot tell if you are the author, so ensure you have proper verification in your post (or in a reply to me), for humans to check!
this is a copy paste from CCN.
Yup stolen, and also full of unsubstantiated hatred. Calling ETC insecure and flawed is hilarious (it is simply the orignal Ethereum chain after all). To claim that the original chain was completely abandoned in the hard fork is also illogical, because if it was completely abandoned, then how come it is still working?
reposted on polo troll box...