Warren Buffett attack

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Warren Buffett gave the earliest description of the P+epsilon attack that I know about http://www.gametheory.net/News/Items/013.html
This attack is the reason that truthcoin consensus on the outcome of events wont work, and it is the reason that bitcoin consensus does not work.

He is a money wizard.


This has already been discussed here: http://forum.truthcoin.info/index.php/topic,173.0.html

The differences in Truthcoin are that [1] someone can already buy votes directly (by buying the VTC), making the attack equivalent to the so 51% VTC monopolist attack, and [2] unlike in congress, where the votes would have to be split by people (who might not trust each other, making coordination costly), in Truthcoin each (perfectly coordinated [for free]) person can split each of his voting influence, thus (if bribe was <51% marketcap) guaranteeing the collection of the bribe when the bribed-outcome fails. Attacker loses big, no users are affected.
Nullius In Verba


Quoteit is the reason that bitcoin consensus does not work.

Are you asserting this for Truthcoin specifically or Bitcoin in general?


I am asserting that bitcoin POW consensus is vulnerable to the P+epsilon attack, and that Sztorc's oracle consensus without SMPC is vulnerable to it too. There are proof of stake blockchains that can withstand this attack.