Subject: Re: [Bitcoin-development] Coinbase reallocation to discourage Finney attacks

From: Justus Ranvier <[email-masked]>
Date: Wed, 23 Apr 2014 17:19:48 +0000

On 04/23/2014 03:07 PM, Mike Hearn wrote:
> On Wed, Apr 23, 2014 at 4:52 PM, Justus Ranvier
> <[email-masked]>wrote:
> 
>> If enough miners don't like a block that has been mined, they can
>> all work to orphan it without any change to the protocol
>> whatsoever.
>> 
> 
> As was already pointed out, yes. However this requires them to
> immediate establish a majority consensus and be absolutely sure it
> really is the majority. You suggest an out of band mechanism for
> that, but why is this better than using the actual consensus
> mechanism you're trying to measure?
> 
> 
>> Once you've changed the network such that it is no longer a
>> machine that faithfully processes scripts
> 
> 
> Bitcoin imposes far more rules than just execution of the
> scripting language, many of which are entirely arbitrary and the
> result of (controversial) human judgement, like the inflation
> schedule. You can't claim Bitcoin implements only some kind of
> natural law.
> 

I've formulated my replies to you and this proposal in a more public
venue, where such discussions of existential changes to the protocol
more rightfully belong:

http://bitcoinism.blogspot.com/2014/04/dirty-deals-in-smoke-filled-rooms.html

- -- 
Support online privacy by using email encryption whenever possible.
Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k