3 ms·

Here's a couple of reasons why it probably wouldn't go this way: 1) Ethereum already has a market cap of $73B [0]. That's a lot of money. 2) Controlling 51% o

Here's a couple of reasons why it probably wouldn't go this way: 1) Ethereum already has a market cap of $73B [0]. That's a lot of money. 2) Controlling 51% of Ethereum would probably cause the value of it to drop [1]. So you'd spend a lot of money to control Ethereum and then end up with something that's far less valuable than it was before you took control. Not really sure what you'd get out of doing that. [0] https://en.ethereumworldnews.com/ethereums-market-cap-is-bigger-than-spotify-gm-baidu-ferrari-bmw/ https://en.ethereumworldnews.com/ethereums-market-cap-is-big... [1] https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/#proof-of-stake-and-security https://ethereum.org/en/developers/docs/consensus-mechanisms...

gruez 6y ago
>2) Controlling 51% of Ethereum would probably cause the value of it to drop [1]. I think you're misinterpreting the paragraph. It's not that controlling 51% will cause the value to drop (it won't, see bitcoin miner control), it's that controlling 51% and trying to pull off an attack will cause it to drop.
- ZephyrBlu 6y ago
  > To do so, you'd need to control 51% of the staked ETH. Not only is this a lot of money but it would probably cause ETH's value to drop To me "it" is pretty clearly referring to controlling 51% of staked ETH. I don't know about the economics behind whether that would cause the value of ETH to decrease, but Bitcoin seems like a different situation altogether since miners don't control the the cryptocurrency itself.
  - gruez 6y ago
    And how does the ethereum network differentiate two people with different wallets and one person with two wallets? Short of attaching some sort of real world identity to ethereum wallets it's impossible to tell whether someone controls 51% of staked ETH because it's trivial to split that up.

3 ms·

Here's a couple of reasons why it probably wouldn't go this way: 1) Ethereum already has a market cap of $73B [0]. That's a lot of money. 2) Controlling 51% o

by ZephyrBlu 6y ago

gruez 6y ago
>2) Controlling 51% of Ethereum would probably cause the value of it to drop [1]. I think you're misinterpreting the paragraph. It's not that controlling 51% will cause the value to drop (it won't, see bitcoin miner control), it's that controlling 51% and trying to pull off an attack will cause it to drop.
- ZephyrBlu 6y ago
  > To do so, you'd need to control 51% of the staked ETH. Not only is this a lot of money but it would probably cause ETH's value to drop To me "it" is pretty clearly referring to controlling 51% of staked ETH. I don't know about the economics behind whether that would cause the value of ETH to decrease, but Bitcoin seems like a different situation altogether since miners don't control the the cryptocurrency itself.
  - gruez 6y ago
    And how does the ethereum network differentiate two people with different wallets and one person with two wallets? Short of attaching some sort of real world identity to ethereum wallets it's impossible to tell whether someone controls 51% of staked ETH because it's trivial to split that up.