Post
Topic
Board Altcoin Discussion
Re: Pool Ops are now the Alt Currency Police
by
Ahimoth
on 06/01/2012, 18:36:12 UTC

I think there are ways to provide 51% protection but human control isn't something I would ever support.  Human control is fallible.  Humans can be bribed, beaten, extorted, killed, etc.

The block chain protocol could be improved to detect and invalidate a 51% attack (hint: a 51% attack involves a re-org AND doubling of hashpower).  Yeah there may be some side effects but they would be part of the network outside of human control/manipulation.



Hashing power can also be bought and sold, just as easily as humans can be. Either buy the hardware yourself, or consider someone offering the top two pool operators a large sum of money for control of their pools.

A 51% attack does not have to correspond with a doubling in the hashpower. An existing pool or large mining operation can turn, which would not show a change in the total hash power.

A 51% does not necessarily require a re-org beyond 1 block. If I want to double spend, then it requires a large re-org, but if I just want to shut down the network, no re-org is required.