You Probably Don't Need a Blockchain

Re:You Probably Don't Need a Blockchain by thisisit on Thursday February 22, 2018 @03:37AM (#16436152)

So, you are using bitcoin's mining revenue to make a claim on PoS coins?

Assuming you are correct, here's something you dint consider - most of the PoS coins need a starting point - mainly the genesis block. These coins are acquired through ICO mechanism. Example NEO. While the current price is 122 USD @ 8 billion in marketcap. But, it started at 0.3 USD and raised USD 28 million. So, China need not buy now 4 billion of coins now, it could have spent 15-20 million to acquire more than 50% of the staking coins.

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Re:You Probably Don't Need a Blockchain by dlubarov on Thursday February 22, 2018 @12:47PM (#16439517)

Even if they acquired a 51% stake on the cheap, they would still own $4b worth of NEO today. Revealing that they hold a majority stake would destroy NEO's price, since it breaks the security model, resulting in a $4b loss.

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