Post
Topic
Board Bitcoin Discussion
Merits 4 from 1 user
Re: Economical mammoths versus PoW and PoS
by
squatter
on 30/06/2019, 22:55:13 UTC
⭐ Merited by Foxpup (4)
* Funny , how no one worries that only 4 BTC Mining Pools can dominate all of Bitcoin. *

Take us through a hypothetical attack scenario. What will miners who are pointing their hash power at these pools do, if the pool operators collude to 51% attack the network? Stay with those pools, or point their hash power elsewhere? Any rational miner will leave the pool.

Maybe the attacking pools could "steal" their users hash power for some hours. What would be gained? Some censored transactions, maybe a small rollback? I would be curious to see the incentives that would even justify pool operators doing that. They'd be nailing their own coffin shut.

* But with PoS it scares the hell out of them if 30 or more stakers could collude to dominate. *  Tongue

Between hardware, electricity and overhead costs, a sustained attack on Bitcoin requires billions of dollars.

None of these costs exist in a pure POS network. Existing stakeholders can simply collude together at no cost. This is a permanent condition. This isn't like mining pools in Bitcoin who can only temporarily leverage other peoples' hash power.