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0 pointsirq-14y ago0 comments

Everyone gets paid!

> Proof-of-Stake attacks aren't about having 51% of the CPU that overwhelms a Proof-of-Work system, but about having 60-70% of the _value_ in the network.

If a nation buys 2/3 of the coin and destroys the network, investors (as a whole) take a 1/3 loss. Then they can (re)start another PoS coin.

Ironically the nation would be up against the old saying that the market can stay irrational longer than you can remain solvent.

0 comments

yellowapple4y ago

Hell, they might not even take a loss at all. A nation-state-level actor trying to buy a majority of the monetary supply would represent a substantial increase in demand and therefore price.

inter_netuser4y ago

...or gradually alters consensus to pad their pockets at the expense of smaller stakeholders.

congrats, you've reinvented central banking and plutocracy.

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