Re: [ANN][MINT]Mintcoin, Energy Saving Coin *23 Exchanges *34 Merchants

Quote from: thisisit on March 29, 2014, 07:16:38 PM

Quote from: mgburks77 on March 29, 2014, 01:03:54 PM

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so pray that a whale, with bad intentions, does not get 51%

That would cost the attacker about $750,000.

Is it really worth it to attack? I mean they are spending 750K to destroy their own money, who would do that?

double spend? there will be other flaws... but currently double spend is most likely to occur with a stake of 51% or more.

If they control 51% of the wealth and try to double spend all of it or a significant portion of it they would be spending nearly 100% of the market cap- there is no way anywhere near 100% of the market cap is going to be spent in two transactions. Meaning if they want to double spend they will have to double spend significantly less than their 51% of the wealth, meaning they jeopardize the remaining part of their wealth. no? Unless they can effectively double spend more than 25.5% (thereby "spending" more than 51% of the wealth they actually control) they would be better off just spending their 51% of the wealth since whatever value is left over after the double spend will be destroyed.