Autor: Amir Taaki Datum: To: System undo crew Betreff: Re: [unSYSTEM] "BitCoin is Broken"?
Author has an axe to grind.
> Yeah seemed fanciful to me too if you're all talking about that non
> majority evil miner cooperative attack. Why don't we form a cooperative to
> rob brute force brain wallets? ... anyone? Yeah didn't think so. Isn't
> that an economic attack too?
>
>> Wouldn't this be cancelled out by the chance that another miner could
>> "non-selfishly" mine two blocks by themselves?
>>
>> Even if selfish miners accounted for more than 50% of the hash power,
>> everyone else would end up becoming selfish to compete and then it would
>> equal out among the miners. There would be more orphans created and more
>> hash power wasted. But blocks would still be created and transactions
>> would
>> still be confirmed.
>>
>> Maybe I haven't thought about this enough though.
>>
>> I see an evil entity/entities gaining a large amount of hash power and
>> only
>> mining blocks with the coinbase transaction in, preventing tx being
>> confirmed as being a more serious threat.
>>
>> Along with miners trying to fight among themselves confirming a
>> transaction
>> which has a large fee, such as the many 100-200btc fees paid in
>> transactions due to errors made by a user, events like this could cause
>> a
>> massive blockchain fork, with each miner trying to build the longest
>> chain
>> on their own fork. The FBI is currently sat of massive amounts of btc
>> which
>> they could use in this way. I think it may be right to introduce a max
>> fee
>> option along side min fee, where nodes can refuse to relay a transaction
>> if
>> it looks like too many fees were paid, possibly by accident and it could
>> cause a fork.
>>
>>
>> There will be a point soon when the majority of miners act
>> "intelligently",
>> rather than just mining whatever bitcoind tells them to. Too much
>> disruption like this could cause the exchange rate to collapse, or trust
>> in
>> the systems ability to confirm transactions dropping.
>>
>> Thanks
>> Bob
>>
>>
>>
>>
>> On 4 November 2013 18:32, Adam B. Levine <adam@???>
>> wrote:
>>
>>> So crazy idea,
>>> is it unethical to intentionally test this out on a low volume altcoin,
>>> document and release the results? Seems like it would be trivial to
>>> pull
>>> this off with anything outside the top 30 cryptos, and in a real world
>>> lab
>>> we could test away the hypotheticals.
>>>
>>> Adam B. Levine
>>> Editor-in-Chief
>>> Let's Talk Bitcoin! <http://www.letstalkbitcoin.com>
>>> 1-855-WETALKBITCOIN Ex.700
>>> [image: Inline image 2]
>>> Talk to me on Gli.ph, my preferred communications platform
>>>
>>>
>>> On Mon, Nov 4, 2013 at 10:25 AM, Peter Todd <pete@???> wrote:
>>>
>>>> On Mon, Nov 04, 2013 at 07:22:45PM +0100, Pieter Hintjens wrote:
>>>> > http://hackingdistributed.com/2013/11/04/bitcoin-is-broken/ >>>>
>>>> They're right, but there's an easy fix that happens to have other
>>>> advantages like reducing the work wasted on orphans and making it
>>>> possible to get quick feedback on whether or not your transactions are
>>>> being mined:
>>>>
>>>>
>>>> http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg03137.html >>>>
>>>> --
>>>> 'peter'[:-1]@petertodd.org
>>>> 00000000000000041b6435c26187eeb950e1f3a0127e2776e82ece2d3c44854c
>>>>
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>
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Re: [unSYSTEM] "BitCoin is Broken"?
