If this is true, then does the pre-existing size of BTC and other widely mined crypto-currencies create a moat? How can a new up-start coin ever hope to gain significant traction with the possibility of a 51% attack?
The parent’s scenario was predicated on using the same hashing algorithm for the mining/proof of work as the dominant coin. So you can avoid that by using a different hashing algorithm.
Monero plans to do that indefinitely, by constantly changing to a new hashing algorithm that doesn’t have dedicated ASIC chips for it.
Monero plans to do that indefinitely, by constantly changing to a new hashing algorithm that doesn’t have dedicated ASIC chips for it.