Post
Topic
Board Altcoin Discussion
Re: Nothing-at-Stake & Long Range Attack on Proof-of-Stake (Consensus Research)
by
ThomasVeil
on 17/01/2015, 12:50:43 UTC
Additionally, convincing people to invest in a ponzi is just one variation of an attack, other variations include convincing 10 % to deposit their stake in your exchange / bank, or taking 10% loans with many profiles , or simply being a large whale that already has 10% or more as is possible with NxT. Why do you act incredulous when these scenario's are commonplace within the crypto ecosystem?

I highlighted the key word for you.
Yes, if you're simply already owning a stake of a size that never existed in NXT - and you additionally simply scam yourself into 41% more - and then simply buy 100% of all that value in shorts, and then simply gain another 30% so you cover your costs. Then you can attack.
Why did no one think of that before?

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The wastefulness of PoW is also a form of security because it incentivizes users to merely profit off of a bear raid and other market manipulation tactics rather than attacking the currency with a 51% attack. The difference with PoS you can attack the currency and profit in doing so and with PoW you have to take a large gamble and spend a lot of resources in order to perform a 51% attack.

Clearly there is zero gambling in your perfect scheme.

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You gotta be kidding me. Nothing of your scenario has anything to do with any of those articles - and yes, I've read them before.
Clearly you didn't because you still don't even know what the term "nothing" means.

Does stupidity really know no limits?


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Secondly ... come on guys: I buy 51% of a POS, then I buy again 51% of the value as shorts (well, more - as I want to make profit).

You understand that one doesn't need to invest in any of the currency , or control 51% stake when performing a N@S right?

Yes, and in not a single word you said you ever talked about N@S. All the links you provided actually conclude specifically that N@S does not exist, or is not realistically executable.