Forging power to open source DAC

[mf-tzo]

Anybody that buys 90% of NXT (causing price to go up 100 fold) would not bother with trying to scam the other 10%. Why bother with that?

There is the theoretical possibility, but in practice only govt or large corp has the money to do this.
The cost could be virtually zero, if you could persuade enough other people to lease you their stakes. Leasing changes the economics.
It is highly doubtful the community will do this. As soon as one leasing pool gets to 10% or more, I would expect them to voluntarily turn away people or the community will actively switch to other pools.
There will be people on the lookout for this and sending out big bold red letter alerts if we get any pool too big

I mean theoretically, everybody could decide to just send all their NXT to the genesis block. That would also destroy NXT. What is possible theoretically is oftentimes not a very realistic scenarios

I remember there was that fancy looking "academic" paper with equations and everything that basically concluded that people will just sell their NXT for nothing because, not sure the reason, but that was the assumption. If everybody sold their NXT for lower and lower prices, then it wouldnt cost anything to buy the vast majority of it and destroy it. Totally contradicting the reality of any massive purchase. just a 1% purchase in the open market would double the price. a 10% purchase would probably boost it fivefold.

Financial attacks are not anything to worry about. We just need to make sure no pool goes above 10%, maybe 5% is a better limit so they match the largest founders.


ideally we will be able to lease forging power to open source DAC's someday.

The above is a quote from NXT forum. No idea what they are talking about but I saw the word "DAC" and thought to post it here just in case some smart people around here have any DAC ideas...