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A New Trustless Way to Calculate the Bitcoin Price

• mouse_ 3y ago
  Cool, but if it becomes popular enough to drive liquidity, wouldn't it be vulnerable to a 15% attack? 15% is still a lot for such a large network, of course.
  • throwawayqqq11 3y ago
    If you hadnt typed "15" twice, i would have thought you typoed "51% attack". To the ones like me, who dont know. Here is an explanation. https://engineering.cmu.edu/thailand/_files/documents/tendrilstaller-block-delay-attack-in-bitcoin.pdf https://engineering.cmu.edu/thailand/_files/documents/tendri... Edit: I am not sure if the PDF really describes the attack you mean. Could you uncrypto please?
    • deleted 3y ago
      [deleted]
    • mouse_ 3y ago
      So the article says this new method of calculating price is based on ~15% of crypto transactions correlating to a round number in some kind of fiat You can use educated guessing to find that round number, as you have so much data pointing to it But that's only 15% of all transactions; if there was money on the line, you could submit your own transactions to game this system for your own benefit. You only need to beat that 15% or so of transactions the article quoted.