On Tue, 8 Sep 2015, ais523 wrote: > On Tue, 2015-09-08 at 09:36 -0700, Kerim Aydin wrote: > > meanwhile, a random thought: how hard would it be to make and > > support an Agoran cryptocurrency? > > No cryptocurrency I know of can continue to act as a currency if someone > has 50% or more of the mining power. Agora has a sufficiently small > userbase that that would be a trivial condition to achieve (with modern > VPSes, you can rent out a very powerful computer cluster for a very > short time for a pretty reasonable cost, and have well over 50% for > whatever scam you're trying to pull; defending against this would > require other people to be using similarly powerful > clusters /continuously/, which would be financially unsustainable).
I was actually thinking more of the "independent of email traceable transfer system" part rather than the mining part. Could the actual mining be restricted to a sanctioned entity (e.g. a bank)? -G.
