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by bouncycastle 2730 days ago
> Also once a majority of stakeholder hit 51% there is no way to take away the 51%

You could do a hard-fork and slash their stake. In PoW, you can't do this.

> With PoW, an entity could theoretically out mine the 51% attacker

Not in the case of "selfish mining attack", where you may never know that an attack is happening until it's too late, you'll have little chance in defending with hashpower since the attackers will have a significant head start...
1 comments
nivexous 2730 days ago
> You could do a hard-fork and slash their stake. In PoW, you can't do this.

So ... theft?

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aey 2730 days ago
Theft of what exactly? Each fork is as valid as any other fork, the challenge is in agreement.
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bouncycastle 2730 days ago
You should really be careful with how you play with definitions, as that will lead down to a slippery slope. Remember that time when someone managed to generate 184 billion bitcoin? With your reasoning, we can now say that the succeeding hard-fork to 'fix' the issue by slashing the bitcoins was theft.
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keymone 2730 days ago
> Remember that time when someone managed to generate 184 billion bitcoin?

you're being intellectually dishonest or even outright manipulative here.

there were never 184 billion coins created on bitcoin chain, there was a bug in validation logic of bitcoin client that made it follow the chain that was invalid.

are you seriously trying to compare that to stealing coins from somebody on a valid chain?

really?

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ChaosEnergy 2730 days ago
> are you seriously trying to compare that to stealing coins from somebody on a valid chain?

They're not stealing coins from someone on a valid chain, they are forking away to another chain and slashing the user's stake. The user will still have all their coins on "their" chain and it's up to everyone else to decide which chain is "the right one". If the 51% user is truly malicious, the majority of network participants will move away to the new chain, rendering the 51% user's tokens (near) worthless.

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keymone 2730 days ago
> If the 51% user is truly malicious, the majority of network participants will move away to the new chain, rendering the 51% user's tokens (near) worthless.

so being successful is punished by destroying all wealth of the richest participant in the network? nice.

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ChaosEnergy 2729 days ago
No, being malicious is.
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bouncycastle 2729 days ago
Now you've really tangled yourself in a big web.
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