Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency - page 5048. (Read 9723858 times)

Slight issue. With POS (at least in an implementation such as NXT), by the time you bought up enough of the coin supply to "attack" the network catastrophically, the only holder affected significantly by such an attack would be yourself  

Put another way, it would be like buying somebody's house off them so you could burgle it

So how did he 'acquire' the coins? Sure, PoS security includes distribution, but to say thats no risk, no cost attack is just false?

I guess the point is that theoretically PoW could be attacked, but it would be vastly less expensive to attack PoS. In fact, the greater the attacker's credibility, the cheaper the attack would be.

No I didn't mean it like that. In POW you can buy half of the hash network and have the same argument of "no cost" 51% attack if you don't count money as cost. And thats absurd.

hi - my pool (https://www2.coinmine.pl/drk/) has updated wallet and paid few blocks for masternodes but last 3 blocks were not paid - anyone knows why is that?

So to summarize, if a credible attacker announces his/her intention to destroy a POS currency, holders of that currency are likely to sell to the attacker very cheaply due to their belief that the attack will be successful and thus their coins will be worth nothing if they sell them. Very interesting point. In fact, it presents a "prisoner's dilemma" of sorts, where an attacker can be thwarted if the majority is able to resist the pressure, but where it's in the interests of an individual to break consensus and deal with the attacker.

The attack has no cost or risk.  

Very simplified example:
The network stake is 2M xCoins.
I acquired 1.1M xCoins as of block 1,000.
I sell you 1.1 M xCoins for $$$$$$$ and the transfer is recorded in block 1,001.
I now no longer have any xCoins (effective block 1,001+), I have no cost as I received $$$$$$ in return for the 1.1M xCoins.
I start building an attack chain as of block 1,000 double spending my transfer.

Eventually even if the main chain has a head start, my attack chain will be longer.  This is no different than a 51% attack on a PoW based network however my attack has no cost and no risk.   I already sold the coins.  I am merely using my history of prior ownership to attack the network.

Compare that to PoW.  I build a hashing farm with 51% of network capacity.  If I attack with it then the attack has cost and risk.  The farm wasn't free, I may not succeed in which case I would lose all the legit blocks I could build.   If I sell the hashing farm I can't engage in an attack based on the history that at one point in the past I had more hashing power than the rest of the network.

Both are vulnerable to a 51% attack however PoS allows the attacker to exploit the history (your security mechanism is recorded in the very thing you are attempting to secure) to attack without cost or risk.

6 pages and this is the argument:

"Then, there are two equilibria for our game. In the first one, when U > r(N + 1)/β, agent
0 buys strictly more than half of the coins and actually kills the CC. Since this is anticipated
by all the other agents, the latter are in competition to sell to agent 0 their coins, who they
know have already no value. The attack can be undertaken at no cost."

and its bad.
It doesn't count fiat as cost and equates 'known value' with price. Beyond that, it can be easily used for POW coins as well as it doesn't really matter what you are buying, hashpower or coins.

hi - my pool (https://www2.coinmine.pl/drk/) has updated wallet and paid few blocks for masternodes but last 3 blocks were not paid - anyone knows why is that?

this is the way market manipulation occurs as when you see its going down you sell and then when you see it is rising you buy.Both ways you lose.

hi - my pool (https://www2.coinmine.pl/drk/) has updated wallet and paid few blocks for masternodes but last 3 blocks were not paid - anyone knows why is that?

the message is away now. I didn't touch. now there is darkSend Status => Idle again

but it didn't work. Nothing arrived at destination....

Look at the volume and behaviour (psychology)

 

Someone dumped 3k+ and got instantly snatched. Volume is ridiculous, driving price low. There was no official date for the soft "spork"   - Most MN investors are in. The others haven't still found out payments are working. Others may have gotten burnt panic selling their nodes last 2 forks, and waiting a little more to get back in.

Top investors are monitoring, but with no fixed date, they had no reference to plunge their claws on. But these latter are technically savvy, and wont be storming in (as they dont live all happy together in a fraternity), as these are top dollars and dont mind the mark-up.

 And this is just RC3. Real magic is in RC4. Then RC5 (open source) will make it ludicrous. Bye bye LTC.

Expect the price to rise in the next few days. No mega panic buy, no pumps (as these would be suicide)... the healthiest of rides.

Its going to be magic.

I don't really mind the price going down, but I can't say I'm not surprised. I was not expecting a huge rise but not a downtrend either ^^

Good god, don't make me ask you about your childhood. Why does this gif infuriate you so much, and what will happen to you once I show the next gif I am preparing?  
/jk