Subject: Re: [Bitcoin-development] SPV bitcoind? (was: Introducing BitcoinKit.framework)

From: Peter Todd <[email-masked]>
Date: Wed, 17 Jul 2013 08:50:52 -0400

On Wed, Jul 17, 2013 at 02:37:11PM +0200, Tamas Blummer wrote:
> Would not an SPV bitcoind transfer all control on validation rules to miner?

Yes

> A majority coalition of miner (pool operator) might even decide to change block reward
> rules if the rest of the network only verifies POW.

Widespread dependence on SPV mode is very dangerous for Bitcoin in
general due to that reason. Fraud proofs may help, but they're also
another layer of never-before-tested crypto on top of an already poorly
understood technology, bitcoin itself.

-- 
'peter'[:-1]@petertodd.org