instead let me go on a rant about why a minner with >51% is NOT a problem at all.
so what's the problem, with 51% anyway?
one might says: " the miner can do all kinds of nasty things, including block anyone else from minning blocks by orphaning their blocks"
I'll say :" thats only true if you subscribe to the idea that the longest chain, is the valid chain, NO MATTER WHAT.... there is Nothing stopping the other <=49% from forking off of the attackers chain. all that needs to be done as a defence for a 51% attack is to tighten the rules of a valid block, and make it such that even if someone has >51% all they can do is produce valid blocks! rules like reject the block if it does nothing for clearing the unconfirmed TX mem pool, or all TX must be valid with valid sigs ( oh wait thats already a rule -_-). there you go, every time a >51% attacker attacks, the other 49% of network collectively say "That's not a valid block!" the attacker ends up on a worthless fork created by his stupidity, and an honest miner finds a block which is acceptable to everyone else, life goes on uninterrupted."
a thought exercise to the reader, read the above and try to poke a hole in the logic. what kind of >51% attack can't we simply "rule out"?
