In less than a week, Dero plans on releasing Dero Atlantis. This release will bring a variety of new features, but the one most relevant to this post right now is the bricking of ASICs on the network.
On May 29th, 2018, in response to the fork by Electroneum, a groups of ASIC miners switched all of their hashing power from ETN to DERO. This caused the network's hash to spike from 550MH to 1.95GH in only 2 blocks. According to the Dero team, this could be defined as roughly a 70% attack on their network. Most cryptocurrency networks have problems with what's known as a 51% attack. This is when a single group of miners control more than 50% of a network's mining hashrate (computing power). During the massive attack against Dero's blockchain, a single group of miners controlled 71.79% of all the hashing power on the network.
During the entire time they had all that hashing power, they had 0 success. They weren't able to get away with a single block. After enough time passed, they gave up and moved on.
It's important to note that this is on Dero's infrastructure BEFORE it upgrades to Dero Atlantis. Yesterday, Atlantis had a live testnet for users to check out. The testnet was a success with 0 issues, and has been since taken down to get Dero Atlantis's mainnet ready for launch by June 5th. It will be at this time that the code will be released for private persons with technological knowledge to pick apart for review purposes then released shortly thereafter to the public.
For further information about the features of Dero Atlantis, please read these posts:
If they had 70+ percent of the hashing power, they should have been able to do whatever they wanted.
It sounds like nothing catastrophic happened to dero and the so-called "attackers" merely used their hash power to mine coins. Is that correct?
If so, I wonder if the price will fall.
Imagine: before, some cartel was using superior hashpower to mine coins. They have most of the supply, so they can withhold it until price rises.
If the coming update fucks over asics, then the cartel will be broken, and we may see a price drop.
Ian Sullivan
Also, what is your relationship with the series project? What makes you choose to tell biz about it?
Carter Perez
*Dero project
Fucking autocorrect
Gavin Ramirez
Thank you OP, excellent news from DERO. Once again, it proved to be a solid blockchain with a serious team, even though it is still very small. I'm very impressed to be honest.
Go Dero ! I can't wait for the Atlantis release.
Brody Ward
Do you prefer sagaloo or jalfrezi my brown friend
Dylan Cook
>If they had 70+ percent of the hashing power, they should have been able to do whatever they wanted.
But they didn't.
They weren't able to do ANYTHING.
I've been telling Jow Forums about it for a while now. 99.9% of every crypto thread on this board is either by a current investor or a former investor, and I'm no different. Beyond that, I find the technology behind Dero to be fascinating and the willingness of the dev team to community to be a breath of fresh air compared to most other serious cryptocurrency teams who are seemingly in the dark. For example, it's not like you can regularly chat with the devs of, say, ETH, KIN, Cardano, etc.
Cooper Barnes
Definitely bhoona
Cameron Gutierrez
shahi korma is the best.
Christian Ward
I've got 141 right now and am hoping to up my stack to 300, is that enough to make it or should I try and up it even further to 500?
John Butler
STOP SHILLING I STILL NEED TO GET MY FUNDS IN! STOP MAKING ME POOORRRRR
Isaiah White
I got 600 Right now and I want atleast 1000, Im going to try for 1.5k honestly
Joshua Adams
>STOP SHILLING I STILL NEED TO GET MY FUNDS IN! STOP MAKING ME POOORRRRR Bruh, same put an order in on Thursday for Gemini and I'm still waiting, gonna pull all my hair out soon desu. >I got 600 Right now and I want atleast 1000, Im going to try for 1.5k honestly Holy shit, I don't know if I can go that far I can get MAYBE 500-750, good on you though. Is 1.5 the limit on making it?
Liam Jackson
scam
Christopher Collins
It depends on what you consider making it. I want to atleast make a million out of this project which I think is very reasonable with 1.5k Dero. (It would only have to be 16th on CMC). Overall I plan on holding it for a year to get reduced taxes on gains.
Xavier Allen
Shit that's a bit ambitious honestly, I like to keep my expectations low but the project does have a lot of promise. I have like 9k in the bank but I never go all in on anything ever, only what I can afford to lose so most I can invest right now is like 1.5-2k, I'm also going to be holding for at least a year though for the same reason.
Parker Martin
paid shills. fuck off our board pajeets
Jonathan Garcia
>yell "scam" over and over again >don't refute anything
Dominic Perry
Thanks user your doing gods work I need it to go down to 30K sats That's a good outlook out on it honestly I'm investing more than i should but I don't think this has anywhere to go but up.
Cameron Russell
HAHAHAHAHAHAHAHAHAHAHAHA HA. FUCKING HA. This right here is the most delusional post ever to be posted on this board.
Blake Collins
>A coin that plans on having infinitely better tech than ETC cannot have a greater market cap than ETC. Granted I'm making the assumption they pull through with everything they have promised which honestly isn't a whole lot. Looks like we'll find out who's the fool in time.
Adrian Hill
user there is nothing yet. nada. fucking zilch. zero. When they get smart contracts working i will buy... i will buy after the news (if it ever comes) even though it will be 5x the price now i dont care because IF and a big IF they get smart contracts working along side cryptonote this is a top 20 coin... but the chances of them doing that are miniscule... fucking tiny. and the market is too risky now to be betting on shitcoins and grasping for straws.
Aaron Butler
This is one of their several testnets and this is available to the public 212.8.242.60:8081/
Jaxon Powell
That link was down when I made the thread. I guess they're doing more testing.
It might go down again, so everyone should check it out while it's still testing to see how it's working.
Isaac Harris
Well they do have everything they promised in this update working already on the testnet. forum.dero.io/t/dero-monthly-update/446 DERO-Atlantis few features:
Block time of ~3 seconds. ~500 TPS(Transactions Per Second). No orphan blocks. Faster settlements and confirmation times of less than 60 seconds. Change spending will be allowed after ~60 seconds. Optional Extremely light weight, mobile and offline wallets. New Dero address specifications to allocate wallets to everyone. Wallets will be lightweight, private, secure, with support of shadow addresses(infinite). Family-members, Cars, IOTs etc. can have shadow addresses. Shadow addresses are linked to primary wallet and can be used independently just like primary wallet. Example: Refrigerator can have shadow address for independent transactions and records. Primary address can view/control shadow address balances etc. but not vice-versa. Native blockchain without any lightning networks, validators or off-blockchain solutions.
Based on those updates alone I think it's worth more than what it is now.
Lucas Hill
STOP FUCKING BUYING MY BTC WONT BE HERE UNTILL ANOTHER 2 DAYS
Dominic Watson
When they implement smart contracts in Q3 2018, it will be too late for you.
Cameron Walker
Good luck man, the FOMO for this thing is already starting.
Henry Barnes
>Q3 2018 Do you know how many fucking projects are promising shit in Q3 and Q2? Do you know how many wont deliver. No thanks bro. im not risking it
So what you're saying is that even if Dero delivers 100% on their Q2 roadmap like they did with their Q1 roadmap, it means nothing?
Okay.
Elijah Sanchez
Checked and kek'd
Nathan Thompson
>that screenshot HAHAHAHAHA what fucking year is it? what a shitcoin
Samuel Ross
Yes... because increasing tps and rewriting an already built protocol is nothing compared to designing a completely new virtual machine from scratch... only two other projects in the space have done this successfully so far - Ethereum and Neo; 4 if you include eos and cardano but neither of those have launched yet
Brayden Taylor
So, according to you, because the testnet basic explorer doesn't have yet a fancy shiny design makes it a shitcoin? You know you will never make it, right? Anyway, I recommend Electroneum and Verge for you. Both have nice looking blockchain explorers. Go check it, and buy a lot of them.
Anthony Bailey
Yeah it was pretty weak FUD
Julian Price
>But they didn't. >They weren't able to do ANYTHING.
How are you sure they didn't just mine the coin?
Maybe they had no intention to damage the network and just wanted to mine as much as they could and sell for a profit. How would you know if they didn't do that?
It seems that the price spiked really high a while back, from sub $1 all the way to the current price of $2-$3.
It's almost like some asic-backed miner started getting most of the new coins and selling them for a higher price, since they had most of the supply of new coins and little competition. What do you think of this possibility?
It makes me want to wait until after Atlantis, desu. Every time I've fomo'd into a coin like this, it's gone badly.
Dylan Gonzalez
This is exactly what im saying. no fucking way im fomoing into shit again. i will wait until they release their golang VM, if ever.
Matthew Sanders
Yeah. Plus, if the recent spike is due to Asics having most of the hashing power, then I wonder if we might actually see a discount after the coming update if the shills are right about it causing problems for Asics, since there may be more competition among miners to sell their mined coins.
Grayson Cooper
The arguments I've seen made say that the price of Dero will drop after Atlantis releases due to ASIC miners being mad they can't mine anymore. After it finds its floor and the marketing begins, the price will rise.
It's really hard to say. I honestly thought this thing would still be sitting at 29k sats right now, but for absolutely no reason, it's now at 42k sats. I have no idea what's going to happen to its price in the short-term, but in the long-term, as long as the dero team keep following through with their promises, it will rise.
Juan Myers
it's not going below 30k sats again, it very well might go below 40k but that depends on how well people respond to the update.
Austin Allen
is it worth to mine with laptop i5 cpu? don't have any other hardware, never mined anything since everyone tells any mobile hardware will be toasted in few weeks of work, especially during summer
Jaxson Clark
no
Parker Watson
>the marketing begins Every project says this though user
Jose Clark
Don't mine with a laptop bro it'll kill your pc
Ryder Johnson
>If so, I wonder if the price will fall. Yes, most likely it will fall a lot after algo switch to CPU-only
Gavin Howard
If they had 70% of the hashing power how weren't they able to mine any blocks? Don't quite understand that part
Ayden Cox
brainlet detected
Joshua Bailey
bump
Nathaniel Jackson
Dero has the most friendly, skilled and well spoken mods I have ever met in crypto - thats for sure. Try talking to them on discord/slack/telegram and you will see..
Brandon Gomez
And lol @ you pajeets speculating price will drop after atlantis drops. If they actually deliver as promised this project is bound for a much higher marketcap than its current pathetic 6.5 mil...
Carter Price
>If they actually deliver as promised this project is bound for a much higher marketcap than its current pathetic 6.5 mil.. What do you think the max marketcap on this thing is realistically?
Ryder Watson
IMO if they truly succeed with their plans, a one billion dollar marketcap would definitely not be far off. Verge, which offers nothing new compared to this project was above that, and monero is at 2.5 bill. So there could be a huge multiplier (100-200x) at play here, if they deliver in a few days..
Jacob Rogers
But in shorter term, I would expect maybe 100m, which is still like 15-20x the current.
Dero REALLY needs to get on more exchanges for that to work, though. There isn't a single coin in the top 10 that only has stocks and tradeogre as its exchanges.
Brandon Cruz
Indeed, but I dont think the team is putting a lot of effort into exchanges until their product is out (which to me is a sign of a serious team)
