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No, there's a big difference between your bribing experiment and the thought-experiment I described. The value 7 * 1.01 is the amount it costs me to conduct the
by wsxcde 12y ago
No, there's a big difference between your bribing experiment and the thought-experiment I described. The value 7 * 1.01 is the amount it costs me to conduct the attack. I don't need anybody to collude with me.
The bribe is an unknown quantity that has to be greater than the revenue the operators of the centralized ledger forgo when they decide to collude with me and attack their other users.
The equivalent to the bribing the centralized ledger would be me trying to bribe the top 5 or so pools to conduct a 51% attack on my behalf. This is obviously going to cost me a lot of money because the pools have little interest in becoming accomplices in my criminal conspiracy.