Subject: Re: [bitcoin-dev] ERRATA CORRIGE + Short Theorem

From: Peter R <[email-masked]>
Date: Tue, 1 Sep 2015 01:06:30 -0700

On 2015-09-01, at 12:56 AM, Peter Todd via bitcoin-dev <[email-masked]> wrote
> 
> FWIW I did a quick math proof along those lines awhile back too using
> some basic first-year math, again proving that larger miners earn more
> money per unit hashing power:
> 
> http://www.mail-archive.com/[email-masked]/msg03272.html

I don't believe anyone is arguing otherwise.  Miners with a larger fraction of the network hash rate, h/H, have a theoretical advantage, all other variables in the miner's profitability equation held constant.  

Dpinna originally claimed (unless I'm mistaken) that his paper showed that this advantage decreased as the block reward diminished or as the total fees increased.  This didn't seem unreasonable to me, although I never checked the math.  

Best regards,
Peter