Post
Topic
Board Development & Technical Discussion
Re: On The Longest Chain Rule and Programmed Self-Destruction of Crypto Currencies
by
jonald_fyookball
on 16/07/2014, 10:26:32 UTC
I have such a headache from trying to understand this thread so instead, I am bookmarking it for later.  Cheesy

A lot of Anonymint's ideas (Aliasing) are analogies and technobabble, and really have nothing to do with Bitcoin or blockchain technology.

(He should really stop trying to impress everyone with big words and explain his ideas in plain English.)

Anyway, Anonymint, I don't think more devs need to see the proposal.  You've already got Gmaxwell and DeathandTaxes telling you it won't work, what more do you want?  I think I've also given some fairly clear arguments also.  The creativity is appreciated but there doesn't necessarily have to be a "solution" against a 51% attack, and it doesn't mean Bitcoin is toast.

51% attacks done for financial gain are prohibitively expensive and I doubt you can rent half the network power anyway.  Malicious sustained irrational 51% attacks are an extreme scenario that would need an extreme solution such as a fork to an alternative proof of work.

But you did get me thinking about timestamp block validation and whether we do or can limit unwinding of the block chain by a 51% attacker.