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Title: POS for altcoins? Post by: mrnuts on December 18, 2017, 06:07:34 PM Well, one could argue that messing with POW coins it's easier since there are already established mine pools that could easyly achieve 51%... as a matter of fact it has already happened, so from that point of view i'd argue that the economic incentives to not mess up with a coin could be higher in POS...
??? ??? Title: Re: POS for altcoins? Post by: Aura on December 18, 2017, 07:21:56 PM Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners.
Title: Re: POS for altcoins? Post by: staywoke081 on December 18, 2017, 07:41:02 PM Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners. Yeah true but those are the lowest of the lowest coins on the rung. You can't say manipulate a hybrid coin like DeepOnion that easily or a coin like MUE that easily. Sure the smallest caps are easy to manipulate but if you have a decent cap you don't really need to worry about the 51% attack. Title: Re: POS for altcoins? Post by: Aura on December 18, 2017, 08:03:18 PM Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners. Yeah true but those are the lowest of the lowest coins on the rung. You can't say manipulate a hybrid coin like DeepOnion that easily or a coin like MUE that easily. Sure the smallest caps are easy to manipulate but if you have a decent cap you don't really need to worry about the 51% attack. Title: Re: POS for altcoins? Post by: mrnuts on December 19, 2017, 11:52:56 AM Lower popularity coins have a higher risk for 51% attacks then populair coins like Bitcoin. I personally believe that PoW is safer for 51% attacks than PoS as it's requires more to achieve 51% of the hash power compared to owning 51% of all circulating coins, especially for lower popularity coins. For example on coinmarketcap there at least a hundred coins that have a marketcap lower than 38 thousand, that means I can buy 51% of the circulating units for less than 1 bitcoin, if these coins would grow and I still own 51% then I'm capable of doing an 51% attack. While for a 51% attack using PoW I need to power enormous amounts of miners, probably not fitting in just one house. I think an attacker would rather buy 51% of all circulating units than powering multiple houses full with miners. Yeah ,but then you're risking your stake... I mean if you own 51% the best way for you to profit is to support the coin, not to mess up with it... but instead for mining, if you own a mining pool with a lot of hash rate your only cost is the time redirect that hashing power over the coin, and that even if members of the pool realize what is happening... |