Who controls Solidcoin's special millionaire accounts? Solidcoin takes the following approach to preventing the 51% attack:

As with existing cryptocurrencies, SolidCoin 2.0 stores transactions in a &quot;block chain&quot; which is essentially what it sounds like. Transactions go into a block, nodes do work on that block to verify it, and if the work is good enough they can submit it to the rest of the network. SolidCoin 2.0 then comes into action, every other block in the chain must be worked on by someone with at least a million (1,000,000) SolidCoins in an account.
One initial problem with this p2p security feature is SolidCoin only had 1.112 million coins prior to this security feature being implemented. To solve this, 10 accounts of 1.2 million were created in the genesis block. These are special accounts that cannot be spent on the network, effectively making them &quot;Null accounts used for special purposes&quot;, until SolidCoin does have real millionaires.

So, who controls these ten special purpose accounts? And are they supposed to be disbanded when real millionaires come around?
RealSolid controls those accounts. He claims that he has selected several trusted people to operate them, but we have no way to know if this is true or not.

There also seems to be a somewhat fundamental flaw in the reasoning. If we trust people because they have the most to lose, why should we trust people who have unspendable coins? Unspendable coins don't reflect having anything to lose at all.

It should also be pointed out that those with more than a million coins have complete control over the transactions included in the chain and who gets all of the mining rewards. They have merely to announce blocks in pairs -- everyone who doesn't control a million coins can be completely locked out by those who do.

Also, I think "the poor can trust the rich because they have the most to lose" fails the giggle test. (That is, you can't say it with a straight face, so it's probably not even close to true.)