4 ms·
This is exactly how it was predicted to work in the whitepaper. I've always been skeptical about it holding longterm, but this paper seems to be confirming that
by tylersmith 4y ago
This is exactly how it was predicted to work in the whitepaper. I've always been skeptical about it holding longterm, but this paper seems to be confirming that's held for now.
> If a greedy attacker is able to
assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth
- timmg 4y agoWhat if he does it without being detected? There are probably a bunch of wallets from back in the day whose owner lost their key. Take some coin out of those. Then no one knows. Sell it. Move on.
- wmf 4y agoA 51% attack cannot take other people's coins. It can only double-spend coins owned by the attacker and there's no way to do a 51% attack without people noticing.
- pcthrowaway 4y agoA double spend would sort of be taking other people's coins though. Once you revert the first spend, the recipient loses their coins.
- vincnetas 4y agoyes, but you cant take random coins from random walets, you can only take what you transacted recently.