From: Pieter Wuille <pieter.wuille@gmail•com>
To: Luke-Jr <luke@dashjr•org>
Cc: bitcoin-development@lists•sourceforge.net, Jorge@vps7135•xlshosting.net
Subject: Re: [Bitcoin-development] libzerocoin released, what about a zerocoin-only alt-coin with either-or mining
Date: Sun, 14 Jul 2013 21:42:06 +0200 [thread overview]
Message-ID: <20130714194205.GA27202@vps7135.xlshosting.net> (raw)
In-Reply-To: <201307141933.13754.luke@dashjr.org>
On Sun, Jul 14, 2013 at 07:33:06PM +0000, Luke-Jr wrote:
> > The issue is that unless there is a cost to mining a *invalid* block
> > the merge mined coin has little protection from miners who mine invalid
> > blocks, either maliciously or through negligence. If the coin isn't worth
> > much, either because it's market value is low or the worth is negative to
> > the malicious miner, your theories of value have nothing to do with the
> > issue.
>
> Invalid blocks are rejected by validating clients in all circumstances.
I don't think that's what John means.
If you have hash power for the parent chain, mining invalid blocks for the
merge-mined chain costs you nothing. Yes, they will be invalid, but you've
lost nothing.
The basic assumption underlying mining security is that it is more profitable
to collaborate with mining a chain (and profit from the block payout) than to
attack it. In the case of merged mining, this assumption is not valid.
--
Pieter
next prev parent reply other threads:[~2013-07-14 19:42 UTC|newest]
Thread overview: 22+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-07-05 14:01 Adam Back
2013-07-12 13:18 ` Peter Todd
2013-07-13 9:51 ` Jorge Timón
2013-07-13 9:53 ` Jorge Timón
2013-07-13 18:32 ` Peter Vessenes
2013-07-15 9:51 ` Peter Todd
2013-07-15 13:05 ` Jorge Timón
2013-07-15 20:29 ` Peter Todd
2013-07-16 3:54 ` Peter Vessenes
2013-07-13 18:42 ` Adam Back
2013-07-14 11:18 ` Jorge Timón
2013-07-14 19:22 ` John Dillon
2013-07-14 19:33 ` Luke-Jr
2013-07-14 19:42 ` Pieter Wuille [this message]
2013-07-14 19:52 ` John Dillon
2013-07-14 20:16 ` Luke-Jr
2013-07-15 0:12 ` Peter Todd
2013-07-15 1:51 ` Luke-Jr
2013-07-15 1:59 ` Peter Todd
2013-07-14 19:48 ` John Dillon
2013-07-15 0:14 ` Adam Back
2013-07-15 0:29 ` Peter Todd
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