Post
Topic
Board Altcoin Discussion
Re: A World of Trust – eMunie Consensus Primer
by
Fuserleer
on 23/08/2015, 22:58:59 UTC
All your sybil attacks are abstract and don't take into account factors of the real world. The attacks may succeed in a spherical vacuum, but what about attacking eMunie if it's used by, say, Starbucks? You walk into a cafe and scan a special QR-code (displayed on an interactive screen) with your smartphone. This code is the root of Merkle tree of the ledger essential part. If your version of eMunie ledger is "hacked" then you will see the difference right away. Whom will you trust, the Starbucks system or unknown random guy with 2 million fake nodes?

Finally, someone that sees sense.

This is the problem, everyone thinks only in theory land and doesn't consider the real world.

Even if you have spent crazy amounts of money, time and effort to have an inflated trust value, you have 10-15 seconds to pull it off...that includes the receiver seeing the payment, handing you the keys to the shiny BMW (because anything less doesn't provide profit), you screeching off, and presenting a double spend transaction while being Mr Getaway driver.

I've had these same arguments face to face with people endless time and it always goes the same

"Well I can create 1 million nodes and take over the network"
"sure, if you had 1 million nodes could you take over Bitcoin too?"
"YES!"
"so why hasn't anybody?"
"erm...."

There has to be a point where you say "Thats enough for 99.999% of all situations" and be happy with what you have