6 ms·
Given enough time he is saying a single bad actor could amass 51% and attack the chain. It would also be a very expensive attack as they would risk the value of
by uberswe 5y ago
Given enough time he is saying a single bad actor could amass 51% and attack the chain. It would also be a very expensive attack as they would risk the value of their stake. A PoW attack doesn’t require the same amount of investment.
- DennisP 5y agoNot only would it risk the market value of the stake, but in Ethereum's version a double-spend attempt would result in near-immediate destruction of the stake.
- codyb 5y agoIf a coin is worth a trillion dollars, could a nation state just start buying up huge amounts, essentially indicating a 51% attack will occur soon, causing a rush for the door, causing prices to drop, despite the clear demand? Or would prices go up because there'd be a guaranteed buyer and a group buying at the moment.
- uberswe 5y agoDogecoin, which was made as a joke, has the 6th largest market cap of cryptocurrencies. It’s incredibly hard to predict how it would affect the market.
- IshKebab 5y ago> A PoW attack doesn’t require the same amount of investment. Right, so PoS is better? He seems to be arguing against that.