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RE: Dash vs Bitcoin

in #bitcoin8 years ago

Sybil is an attack vector against any crypto not just Dash, and I think Bitcoin will be the first target, because miners are already doing nefarious activities, like the backdoor meetings in Hong Kong or whatever.

I would not trust them the least, and they have the resources to mount a Sybil attack.

Yeah sure it is, but your missing the point completely with dash. A Sybil attacker in Bitcoin does not have much power at all - they still would need hashrate to do anything.

With dash, there is the economic fee of locking 1k dash for becoming a node representing quasi-stake. This fee is so trivial, especially to actors who were able to acquire a large amount of these tokens for "free". The low expenditure of value required coupled with the power of masternodes is absolutely ripe for masternode collusion and centralization​.