I'm not so sure that's true. Given the network at all times knows the amount of nodes out there (hence the 50%+1 rule for consensus) it would be trivial for a NSA (Nation State Actor, not TLA) to stand up 50%+1 virtual nodes fast enough to gain consensus and usurp the currencies (tokens) if I understand correctly
On 18 May, 2011, at 01:00 , Peter Thoenen wrote: the
mechanism for determining legitimate tokens from the EconTalk interview. Am I missing something here?
You are. The moment that they stop doing that, the legitimate network overtakes it and restores order. It would have to be a sustained attack until all users of the network had abandoned it. Furthermore, it is really only a minor denial-of-service, because solving 100% of the blocks going forward only allows you to deny confirmation of the transactions of others, and to double-spend your own pre-existing coins. The moment the attack stops, the legitimate network would begin catching up, and would soon overtake it. -jp -- ======================================================== Jeffrey Paul -datavibe- sneak@datavibe.net +1 (800) 403-1126 http://sneak.datavibe.net 5539AD00 DE4C42F3 AFE11575 052443F4 DF2A55C2 "Virtue is its own punishment." ========================================================