Stellar

Post by grubles » Fri, Aug 08, 2014, 2:50 AM UTC

ender7 wrote: post #384

mrb wrote: post #332

Earlier quoted context omitted.

"The network does not need to trust gateways, but users need to trust them" -> a subtle difference, but it does not change my point: trusting a gateway's honesty is required. So let's say I choose to not trust any gateway and their currencies, and instead decide to transact in the native stellar currency directly. This is a strange choice: why have support for alternate currencies if the Stellar protocol in itself ca…

In practice, however, using BitCoin requires trusting something that is the equivalent of a gateway (an exchange) with your BitCoins if you want to be able to freely trade them. The fact that this weakness does not appear in the BitCoin protocol, but is rather implied by the human desire for convenience and marketplaces, doesn't make it less of a flaw. One can sneer at everyone who lost money with MtGox for "choosing…

Post by erikpukinskis » Tue, Aug 12, 2014, 6:42 AM UTC

murbard2 wrote: post #462

erikpukinskis wrote: post #425

Earlier quoted context omitted.

No, you don't have to trust the miners because there are no known collusive schemes that would make more money for that volume of miners than playing by the rules would. Maybe you think that some scheme will be discovered, but that's pretty speculative at this point. It's been many years and not a whiff of one.

>No, you don't have to trust the miners because there are no known collusive schemes that would make more money for that volume of miners than playing by the rules would. Yes there is, coordinated conditional double spending on gambling websites. There are also non pecuniary reasons to attack the network, such as vandalism (miners could be pressured into colluding by a government for instance)

Post by anup69 » Wed, Aug 13, 2014, 5:49 PM UTC