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17:07 < queip> anyone remember the formula for cost of replacing N=1 (or any number in general) blocks in blockchain if you are a miner  with X% of global hashpower, and block reward+fees is C?
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17:08 < queip> I guess it's more complicated than X*N*C
17:11 < sipa> what does "replacing" mean?
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17:13 < queip> sipa: the attacker wants to take some starting block height H (e.g when he decides to run double spend attack against N-conf accepting exchanges etc) and wants to mine own blocks H+1 .. H+N where his H+N will be selected by all normal clients as the winning chain over the other blocks mines above H by rest of network
17:16 < queip> now I wonder if the question is detailed enough or are there separate scenarios. in this one he picks concrete H and must do selfish mining.. that is only function of his hashpower X% and if it e.g. 51% then he should usually win... we can calculate his % chance to win.. asking about money/cost of lost blocks doesn't make sense I guess
17:17 < queip> other scenario might be that he tries to "do an N-deep reorg"; if he fails he tries again; here we could ask how much money is he expected to burn on the failed attempts and unsuccessful chains that lost, until he finally successes once
17:17 < queip> (the orginal thought was simply "what is the cost of N-reorg attack")
17:19 < sipa> well doing an N-deep reorg with a (attacker hashrate / honest hashrate) ratio R, will cost you N/(R-1) blocks on average
17:19 < sipa> at least if R is larger than 1
17:20 < sipa> if R becomes close to 1 or below, you need to talk about probabilities of success rather than how many blocks it'll take you
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--- Log closed Tue May 18 00:00:58 2021