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Technical Discussion / Re: How viable is PoW for new coin?
« on: May 13, 2024, 04:53:12 PM »Just change the hashing algorithm for the new coin so that it is different from that of established coins. In other words you wouldn't want to do a sha256d and then someone who has racks upon racks of ASIC miners connects to your network and mines with all of them until the difficulty is so high that nobody can participate in it.
It will still be susceptible to an attack from GPU/CPU farm unless you already have yourself a huge farm to counter a 51%.
And I don't think there will be anyone who will build a coin in secret , develop an ASIC for it, have those ASICs mine from the strat to secure it and risk millions on such a scheme, it's way too costly and with less and less hype in mining quite the money pit, you could use all that for a PoS coin and prop up the price till you dump it.
I think most new coins don't get attacked because what is left of miners is desperate to keep them alive, but in reality, their protection against someone willing to do harm is minimal.