Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
sumantso
on 31/12/2014, 21:41:38 UTC
It's even more vulnerable because Bitshares is trying to attract "businesses and developers" as delegates.  All someone would have to do to get voted in as a delegate is to post a convincing but fake business plan or resume and the stakeholders would eagerly pull in the Trojan horse.

You make it sound so easy. Its interesting how preference sways our judgement. For instance, I can easily say the same for PoW coins:

All someone has to do is operate a pool which rewards block finders generously and has 0 fees, and the miners would eagerly pull in the Trojan horse

If anything, the Ghash incident showed that miners are not pro-active in protecting the network and it leaves PoW coins vulnerable. Will shareholders be more careful when it becomes larger and the voting is more distributed? Well, only time will tell.