Topic: Possible Solution to sybil attack and 51% attack (Read 937 times)

Proof of reputation can be very easily manipulated because it is very easy to create a fake reputation with advertising and marketing.

So we have a centralized entity awarding tokens to miners? What is this central entity, and what renders it incorruptible?

pirate@40 had a good reputation
magicalTux had a good reputation
nefario had a good reputation
ukyo had a good reputation
...
... until they didn't.

PoR= giving more funds to greedy miners. ... um no thanks

but what i would say is for people to not buy into these "add node" services as that is paying someone to accumulate nodes centrally to make a sybil attack possible and it astounds me that noobs think that their $20 a year subscriptions are helping the network, when the fact is that it does the opposite.

for just $20 one off payment a person can buy a 32gb memory stick and use that as the storage device for their blockchain data if they care so much about not bloating their hard drive. or even just accept that blockchain bloat is required for network security and just run the node from their hard drive. saving the $20.

i truly find it strange that bitcoin offers people alot of freedom, but they mostly have the mindset of "let someone else do it" and then complain when bad things happen. bitcoin does not need PoR, it just needs human training.
the block chain is less bloat than installing Call of Duty or World of warcraft. so if your happy installing games, then WTF not want to secure your funds? which is more important?

now as for 51% 'possible attacks',
again human training to get people to spread their miners across different pools. its simple maths, we could use real numbers here 138,778 terrahash rigs (139 petahash). (non rounded: todays hashrate is 138,777,640.70 g/hash)
so lets take the 3600 coin per day and say:
poolA has 52%(=72164Thash) power/network control,
poolB has 20%(=277556Thash) power/network control,
poolC has 20%(=27756Thash) power/network control,
poolD had 8%(=11102Thash) power/network control,

PoolA: make 1872* coins a day shared between 72k** terrahash rigs 0.02594077btc per rig, per day
PoolB: makes 720* coins a day shared between 28k** terrahash rigs 0.02594077btc per rig, per day
PoolC: makes 720* coins a day shared between 28k** terrahash rigs 0.02594077btc per rig, per day
PoolD: makes 288* coins a day shared between 11k** terrahash rigs 0.02594077btc per rig, per day

i then checked these numbers out on a mining cost/profit calculation website. which showed 0.0256 (once you take into account a 1% pool fee would be correct)

so no matter how massive or small a pool is. it is irrelevant to mining earnings. the only variance is the way the pool miner takes a cut and shares out the remainder.

so dont base joining a pool purely because it has the most hash power, as its irrelevant. SPREAD your rigs onto different pools because although you think your adding more power to add more chances of that pool getting more blocks. your also decreasing the share out value as its dividing between more rigs (basically the share balances itself out, so adds no benefit)

last note: if a miner is getting less than 0.0256 (after pool fee's) per Thash rig they own per day right now... their obviously on a pool where the pool owner is taking more than a 1% cut.

* the coin is an average based off a 2 week period divided down. so dont knit pick that the daily numbers are not A:1875 B:725 C:725 D:275 because miners will not make exactly 1875 coins every day
** i used true numbers in calculations to the GIGAhash level not rounded. i only wrote 72k,28k,11k just for short commenting in post  

I posted this article in LTBcoin Network. I would like your feedback.

51% attack in decentralized networks