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Author Topic: Trust - reward for loyalty  (Read 646 times)
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April 10, 2013, 12:09:50 AM

How prevent attack 51% with no economy changes?
For instance bubble breaks, price fall down to $5 (temporarily) and majority of miners discourages.
Can be attack, - proof depends on quantity of money, but it change economy.
My proposal:
Miners ears money with Proof of Work, but after finding block, block and miner is checked by trusted user.
If block will be false, (for example double spending, denial of service or other) this user will be banned and block stay not finding.
It will be good exists trust accounts not related to money. Owners of this accounts must have good,correct bitcoin clients.
This accounts initially have developers, but
- this accounts not give money
- trust accounts must expand to other accounts to users, which long time (maybe one year) not cheat.
After expanding will thousands of users who have trust accounts,
new users (for example botnet attack with malicious client) will not trust, but can earn money with Proof of Work.
User can have more accounts, therefore instead of binary trusted/untrusted more "trust credit" gets accounts with
more money or accounts where was more money by long time. And year of loyality.
"trust credit" as auxiliary money can be simpler - because can be not checked double spending - only expand.
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You're fat, because you dont have any pics on FB

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April 10, 2013, 12:43:47 AM

Trusted user...?

You missed the point of bitcoin..


You trust the math.. Not the people..
Trust is broken by greed

For Canadians by Canadians: Canada's Bitcoin Community -
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April 10, 2013, 01:08:35 AM

Most users has good bitcoin client, but some users can have malicious client, this users can big computing power.
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