Post
Topic
Board Altcoin Discussion
Re: Fundamental flaw in consensus algorithms?
by
TPTB_need_war
on 25/08/2015, 15:46:59 UTC
So now discussion of consensus
algos other than PoW are consigned to altcoin discussion?

Actually the discussion was applicable to Bitcoin's PoW also, because the selfish mining attack means any party that controls 33% of the network hash power can in theory accumulate wealth disproportionately faster than the rest of the network thus the fundamental flaw I described in the opening post. With certain control over the network propagation the required percentage drops as low as 25%. This can be happening now, indicators might be the orphan rate and statistics of how often two block solutions broadcast within the network propagation delay.

Perhaps Maxwell doesn't like the fact that I have a solution to that problem and am going to destroy Bitcoin and his bloated $24 million dollar vulture capital morass.

Maxwell is a smart guy, but selfish, closed source assholes (censoring technical discussion is closing source) can't win against the entire community of humanity. Does he really think the community can't pool enough resources to hire mathematicians and cryptographers as smart or smarter than him  Huh He has a personality disorder (or vested interest but he didn't decide to acquire his position of overlord without the personality disorder in the first place) that I think Eric S. Raymond described well:

http://esr.ibiblio.org/?p=4901

National styles in hacking
Posted on 2013-04-11 by Eric Raymond

The German: Methodical, good at details, prone to over-engineering things, careful about tests. Territorial: as a project lead, can get mightily offended if you propose to mess with his orderly orderliness. Good at planned architecture too, but doesn’t deal with novelty well and is easily disoriented by rapidly changing requirements. Rude when cornered. Often wants to run things; just as often it’s unwise to let him.