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RE: The Pivx Crypto Currency Community is Entertaining

in #pivx7 years ago

I joined the slack trying to find some simple security answers and all I got was questioning of the security of other projects. Perhaps you can help me with those questions later on. I don't understand how PoS can be protected against sabotage when there are people who have unlimited fiat to purchase stake. If the higher stake gets preference then there's nothing stopping banks from just pumping the hell out of it, get everyone excited and selling their position in other projects to join PIVX or any other PoS, and then dumping all in a couple of minutes. This really concerns me so I'm hoping someone with the knowledge can put it in simple terms.

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The same can be said of literally every blockchain. With unlimited fiat anyone could crash anything if they dont mind wasting tons of money to stamp out something that will just come right back as a different blockchain. Pointless to worry about this, focus on the improvements over previous generations and the fact that anyone with unlimited fiat would go after the big dogs like bitcoin first.

Yes, @Wilbur is basically correct. Also you'd find that most of the network stake isn't for sale, due to being used for staking or masternodes. It's not a scenario that PoS coins really worry about.

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