Quote from: TierNolan on January 13, 2014, 03:32:07 PM

Quote from: oakpacific on January 13, 2014, 03:02:52 PM

They could certainly send me a fake chain, but it would took them more than millions to convince me if I simply check the difficulty. The whole point of Bitcoin as stated in Satoshi's paper is voting by IP doesn't work, malicious nodes shouldn't win just by numbers.

To send a fake POS chain, they need to control more than half of the stake from before the lock-in.

The point of the POW stage is to make sure that this is well distributed.

Obtaining the POS coins would be made harder, since a lot of the owners of that stake would no longer be on the network and/or would have lost their keys.

The devil is in the details though and PPCoin is the only attempt to do it and that isn't a pure POS coin.

The POW blocks can still be faked, I am able to mine the first 50,000 Bitcoin blocks in a matter of days using my hardware, in fact, one KnC miner equals the total hashpower of the network in the spring of 2011, other than that it's just a problem of faking the signatures.