3 ms·
why does this have to be during the descent? 51% attacks are possible at value point.
by Pristina 8y ago
why does this have to be during the descent? 51% attacks are possible at value point.
- ben_w 8y agoI think mathgeek is talking about descent in use not descent in price.
- andy_ppp 8y agoIf the market were perfect the coin should become valueless if 51% attacks are happening?
- tromp 8y agoIndeed, [1] shows inherent issues with coins that rely purely on transaction fees for eventual security. [1] On the Instability of Bitcoin Without the Block Reward http://randomwalker.info/publications/mining_CCS.pdf http://randomwalker.info/publications/mining_CCS.pdf
- tromp 8y agoAnd more recently, [2], which curiously only considers abandoning PoW in order to deal with issues caused by dwindling block rewards. [2] Beyond the doomsday economics of “proof-ofwork” in cryptocurrencies https://www.bis.org/publ/work765.pdf https://www.bis.org/publ/work765.pdf