I am not concerned about attacks with significant amounts of coins. Big holders have to spend a lot to purchase these coins. It is unlikely someone will be willing to invest heavily into a coin just to attack it.
This is about right; there could be many possibilities to make it happen though, for example, unintentional staking with big amount because of the "greed", let alone pool staking is happening. More or less this is a security hole.
Joe, I would like to understand how Magi Coin's PoS works, could you tell roughly how many coins will be minted by:
- wallet with 1 Magi Coin
- wallet with 10 Magi Coins
- 100, 1000, 10000, 100000 coins?
Let us presume these wallets are online all the time for a month.
It's a bit difficult to estimate a month staking. In general, reward = coinage * APR / 365. To be simple, coinage is about linearly increasing with staking days (within the first four days). As an example, 100 XMG staking gets reward in the 3rd day, then reward = (100*3) * 2.6% / 365 = 0.021 XMG; 1000 XMG will get reward within half day: (100*0.5) * 2.6% / 365 = 0.036 XMG. For 10000, 100000 coins in staking barely gets reward. I assumed above coins are staked in a transaction. One can split 10000 over 10 transactions, that will lead to 10 times of staking with 1000 coins.