@LiteAsCluck@indigo_nakamoto@lite_hause@mithcoons@BarrySilbert I didnt suggest SHA256 can merge mine scrypt. The algo used is irrelevant to computational power. How much computational power is used is how a PoW blockchain is secured. Hash rates can be compared in how secure a chain is. Higher hash rate is more secure regardless of PoW algo.
@indigo_nakamoto@lite_hause@mithcoons@BarrySilbert Also, it'd take massive hardware to perform a 51% but almost $0 to take part in securing. One doesn't have to earn to secure and thats true of both algorithms. It costs to have a realistic chance of earning... not securing. Even a laptop can take part in securing the network.
@tac_token@lite_hause@mithcoons@BarrySilbert You are ignoring the total cost to attack which includes the cost of the hardware and that hardware would be worth nothing after. Litecoin is secure.
@indigo_nakamoto@lite_hause@mithcoons@BarrySilbert Why would you think that hardware would be worth nothing afterwords?
Honestly bitcoin is at a state where a 51% attack isn't even a threat to bitcoin if it happens.
So the hardware wouldn't suddenly be worthless as it wouldn't mean the end of the network.
@indigo_nakamoto@lite_hause@mithcoons@BarrySilbert You seem to lack understanding on why hashrate matters to securing the network. Its completely irrelevant what the algorithm they use is. The reason for that is because the higher the hash rate the more computational power required to carry out a 51% attack.
@lite_hause@mithcoons@BarrySilbert Dollars dont secure networks hashes do and they can be compared - hence they are compared by countless websites
Yes they are 2 different algos - that changes nothing
You are saying thousands of sites that compare hashrates of different protocols are wrong. Thats laughable to me
@tac_token@mithcoons@BarrySilbert They’re two different algorithms, you can’t compare them against one another. Also, if you compare Bitcoin’s market cap vs Litecoin’s and compare each networks node count to the money invested in each network, Litecoin has more nodes per $
@LiteAsCluck@lite_hause@mithcoons@BarrySilbert You mean like using bitcoin mimblewimble or bitcoin liquid network? Or RGB LN contracts?
This isn't 2016 anymore and bitcoin is not "behind" other chains no matter what people may think.
@lite_hause@mithcoons@BarrySilbert So you can take the train that's 4 times faster and 100 times less secure thus risking your life (finances) or you can be logical and use the one that isn't a risk on your life (finances).
I have yet to find a CPA that knows the answer. Tag your favorite crypto CPA / accountant.
How is it taxed (USA) if I buy BTC with USD. Sell BTC for GBP on a crypto exchange, trade GBP to USD on forex. Do I pay double capital gains? How is that taxed?
#BTC#bitcoin#taxes#cpa
Anyone know of app or service thats free, generates imgs from png layers (I don't use PS so no psd), generates metadata, uploads to ipfs, and launches minting contract that I can set price?
nft-inator creates broken imgs and duplicates
#NFTCommuntiy#nftartists#NFTcollections
@POTUS@JoeBiden wasn't kidding. Democracy was in danger of being overthrown
Every state senate that had slow counts with GOP dominating flipped democrat
EVERY SINGLE ONE
Next up they go after GOP as terrorists
History repeats. Very similar to how NAZIs stole German democracy