implications of merged mining / shared blockchain

[JohnDoe]

What about this ArtForz NTP fix that was implemented on Geist Geld? Shouldn't that be enough to prevent the history rewrite or was that an unrelated exploit unique to that blockchain?

[phelix]

Maybe making the change to merged mining earlier can solve the problem too?
I don't really know how these checkpoints work.

If you run a client with a checkpoint at block 18932 (example) it will not recognise any attempt to rewrite blocks prior to 18932. This will avoid confusion, but it won't ensure the ability to function beyond block 19100.

To ensure that, we have to find out who controls more mining power: people who want Namecoin to die or people who want to merge-mine it. We must therefore court the universe of BTC miners. Many do want Namecoin to die, perhaps because they fear the effect of a superior competitor on the BTC price. I hope we can assuage such fears and avoid generating spite as befell SolidCoin.

BTC and NMC are natural allies against fiat. But like brothers, they will fight from time to time. Let's keep this wrestling match friendly and not gouge out any eyes.

Are these really the only options? I am afraid merged mining will kill Namecoin but I want Namecoin to prosper. Merged mining will pretty sure devalue current Namecoins (what else does it have in common with a 51% attack?) and thus kill Namecoin in the long run, too.

With the current events at hand there might be no other option, though. Maybe only one non-merged block chain can exist.

[jtimon]

Merged mining will pretty sure devalue current Namecoins (what else does it have in common with a 51% attack?) and thus kill Namecoin in the long run, too.

Even if merged mining makes the nmc price drop to half, it would not destroy it. It is true that more miners will sell their namecoins, but the security would also be greater. And since the price doesn't affect the usefulness of nmc, I don't see how a drop in price can make it drop to zero. Merged mining is only good for namecoin in the long run, even if it's "bad" in the short term. If nmc prices drop after merged mining, I will accept the losses, because I think that it makes nmc more "intrinsically valuable".

Seriously, why don't we make merged mining happen before the attack? It's just changing a number and distribute a new client.
A checkpoint with that new version would be necessary too. They can still revert the chain to a block previous to merged mining.
Maybe the condition should be

Code: Select all

if (nHeight > 19050 || doIEverSeenAValidBlockAfter19050()){
 mergedMiningAlgorithm();
} else {
 ordinaryAlgorithm();
}

[joulesbeef]

Not going to steal anything, The NMC creators have about 10 days time so shame on them if I am able to do this.

YES please take the word of the arrogant hacker, who caused all the coins values to plummet and the exchanges and pools to close down, screwing a shit load of people out of a ton of money. And dont forget that no one will follow in his footsteps cause he is a hacker god and no one else can do it but him.


Seriously if yall listen to bitcoinexpress and trust a damn word he says, namecoin deserves to die. The guy is totally ruining the community. He isnt helping, if he wanted to help there was testnet. He is simply screwing with peoples investments. I dont know why yall let him on the forums.

[Iyeman]

Are these really the only options? I am afraid merged mining will kill Namecoin but I want Namecoin to prosper. Merged mining will pretty sure devalue current Namecoins (what else does it have in common with a 51% attack?) and thus kill Namecoin in the long run, too.

With the current events at hand there might be no other option, though. Maybe only one non-merged block chain can exist.

Not sure why everyone thinks because of merged mining there will be massive amounts of NMC out there...you all do realize that after a week or 2 of merged mining, the difficulty will be the same as bitcoin, thus only 6 blocks an hour (roughly) will be generated. during the time it takes to get to that difficulty yes a lot of blocks will be found, but how is that any different than when folks come here for 5-6 days mining the crap out of it because it is more profitable...oh yeah we wont have a 8 month difficulty change...

current btc difficulty is 1'755
Currently 94000
will be 376000 after 1st difficulty jump
1504000 after 2nd
will equal btc difficulty after 3rd

so that is roughly 6000 x50(30k coins) btc that will be created quickly before difficulty normalizes with btc... a quick 30k coins is not going to hurt nmc long run, it "may" drop the price a bit while people sell them off, which would be good for investors to buy and hold on to.