Quote from: Frink on December 29, 2018, 08:33:33 PM

And I'm saying you have this backward, Proof of Stake has an inherent single party attack vector, Proof of Work only has a 51% attack vector, which is much stronger.

Still, neither are as strong as Frink's upcoming Proof of Person Wink

Hardly PoW 51% attack is happening to multiple PoW coins all of the time.
https://www.coindesk.com/blockchains-feared-51-attack-now-becoming-regular

A College Student released a page showing how little it could cost to 51% attack PoW coins for 1 hour using nothing more than rented hashrate.
https://www.crypto51.app/
Price to 51% attack bitcoin was only $303,029 .

* The only reason BTC has not been 51% so far , is Bitmain that has a hidden combined over 51% of the mining has not been interested in hurting their ASICS sales.*

Proof of Stake requires a party purchase all of the required coins to pull off an attack.
In doing so it drives up the price of the coin and increases the stakers, which causes them to have to buy more coins. Wink

Quote from: Frink on December 29, 2018, 08:33:33 PM

Quote from: Herbert2020 on December 29, 2018, 05:43:20 AM

no i don't think it is "inherently" centralized but it can become centralized a lot easier than PoW because it is a lot easier for a whale to buy a large portion of a specific coin (to have a large stake in it) and control the coin that way and then get out in a very fast way if he chooses to. but you can't get out of PoW because you need to sell equipment which is not as easy as dumping coins!

The other problem is they can dump their coins, then go back in time and start mining from a block previous to when they dumped their coins and good luck proving which fork is legitimate.

You have to purchase alot more than 51% to control a Proof of Stake coin.
Proof of Stake coins go dormant after staking lowering their staking % .
So they can not maintain indefinite control over a blockchain like a PoW miner with only 51% can.
(If you need proof , create your own PoS coin from one of the standard source codes and keep 70% in 1 address and place 30% in another and stake them directly against each other, and you will see for yourself that the 70% can not maintain indefinite control of the blockchain like a PoW miner with only 51% can.)

If a Majority PoW miner or a Majority PoS Staker dumped coins and then restarted from the earlier block.
All Users of either would lose faith and it's price would plumment.
PoW miners can do this on multiple coins that their ASICS can be used for, PoS Stakers can only do this for the coin they purchased.
In other words, if two PoW coins use the same algo , I can destroy one and maintain the other , really losing nothing.
But destroying a PoS coin, is the same as getting money from the bank and then setting it on fire.

As far as legitimate, whichever fork has the majority support, as a simple checkpoint can redirect the destiny of a PoW or PoS chain.

Quote from: franky1 on December 29, 2018, 10:34:13 PM

Quote from: Herbert2020 on December 29, 2018, 05:43:20 AM

it is a lot easier for a whale to buy a large portion of a specific coin (to have a large stake in it) and control the coin

they dont even need to buy coin
they just need to syndicate(pool) funds of many people into stakes of higher amounts combined. and then make blocks the way they want as they will get seen as higher staking authorities to solve more blocks.

syndicating funds is easier than pooling asics. and much easier than buying asics or buying stake.
a stake manager doesnt need a penny to his name and can start convincing people to pool their funds into his addresses

In PoW, If I convince everyone to let me hold control of their coins, I can sell their coins and crash the price and just live off fiat
* Because PoW Flaw of requiring million$ per month to maintain it's network, the miners go broke and the network dies. *

In PoS, If I convince everyone to let me hold control of their coins, I can sell their coins and crash the price and just live off fiat.
* However, since someone else just purchased the coins for cheap , they can keep the network running and potentially allow the price to skyrocket. *
PoS network is under no threat of network death, because the costs to maintains its network is only a few thousand$ verses a PoW needing million$.

FYI:
In both cases the person stealing said coins would be prosecuted.

Cool