Post
Topic
Board Bitcoin Discussion
Re: It's about time to turn off PoW mining
by
CIYAM
on 08/09/2014, 15:42:31 UTC
It's no more far-fetched than they spending astronomical amount of money to attack a PoS system (and without guaranteed success, like attacking a PoW).

Okay - am coming around to your point of view now - but one point still bothers me which is the *hacking point*.

With PoW you can't *hack the proof* you have to "do the work" (unless a fundamental flaw is found with SHA256 which would probably screw up all cryptos that exist at the moment).

It may be much easier to *attack the wallets* of stake holders (via keyloggers, etc.) in order to gain the stake without having to spend "astronomic amounts" of money (might only require a few million to recruit a team of black hats and exchanges would be a major *weak point* with this vector).