Post
Topic
Board Announcements (Altcoins)
Re: [ANN][DASH] Dash | First Anonymous Coin | Inventor of X11, DGW, Darksend and InstantX
by
TanteStefana2
on 21/10/2015, 22:57:11 UTC
You would have to own a majority of masternodes in order to attack instant transaction locks. The cost of acquiring this many nodes (currently about 1.7 million DASH) would be prohibitive, as there is obviously not that much available for sale and even if there was, the price would skyrocket if anyone tried to obtain this much.

AnonyMint wants a system that is NSA/state-resistant (well who wouldn't?), and a system where the state with its limitless resources can buy/bribe most of the masternodes does not pass the criteria. Current holders could become filthy rich in the process but the end result would be a government controlled coin.

Agreed--who wouldn't?

I doubt that it's possible to build a system that can never be subverted by anyone for any reason. It's probably more constructive to measure existing systems against existing systems (or at most, against systems that are likely to be invented).

If the State wants to destroy Citi or Chase, they have countless powers with which to do so. Information can be subpoenaed, executives can be arrested or sued into oblivion, laws can be changed, antitrust cases can be brought, etc. If the State wanted to break Bitcoin, they could buy the entire world's production of ASIC miners, as well as buying ASICs from existing miners, or they could just hack into the top 2-3 mining pools and redirect their hash. If the State wanted to break Dash, they could buy up 51% of the coin supply.

All these things would be expensive, but certainly within the power of a State with nearly infinite resources.

They may have almost infinite resources (not really) but they all, even the most totalitarian regime has to deal with public opinion.  And if they can win there without spending any money, that's the way they'll do it.  And that is the course they've taken.  But it isn't working, is it?  LOL  It would be more likely to work if they actually did a good job governing, but they're horrible.  Also, there actually are some intelligent people in government who actually care about their countries, and they can see that this technology may end up being the only thing that saves us all.  Being that they're trying to position themselves, they'll allow the "stupid" politicians to cause trouble until they figure out how to deal, then one day, woe, we're acceptable!  But on that day, they'll at least almost have a way to enforce taxation.  And their own centralized crypto undoubtedly.