From: Tom Harding <tomh@thinlink•com>
To: Bitcoin-Dev <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Interpreting nTime for the purpose of Bitcoin-attested timestamps
Date: Mon, 19 Sep 2016 09:13:40 -0700 [thread overview]
Message-ID: <7ff1a87d-2916-2024-ea05-d6413bd17767@thinlink.com> (raw)
In-Reply-To: <20160918042001.GA9076@fedora-21-dvm>
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On 9/17/2016 9:20 PM, Peter Todd via bitcoin-dev wrote:
> The probability that all N blocks are found by dishonest miners is q^N,
That's the probability that dishonest miners find N blocks in a row
immediately. What you want is the probability that they can build a
chain N blocks long, taking the random-walk into account.
So use Satoshi's formula from bitcoin.pdf, section 11. The results are
remarkably different. In particular, q=.5 is totally insecure, since
for any N, both factions are guaranteed to eventually possess a chain of
length N anchored at x at some point during the wild reorg melee.
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next prev parent reply other threads:[~2016-09-19 16:13 UTC|newest]
Thread overview: 5+ messages / expand[flat|nested] mbox.gz Atom feed top
2016-09-18 4:20 Peter Todd
[not found] ` <CABeL=0jSQsdyRFAUheQ9XSi1krM=PLFAARLXE8Du55FFkX8vZg@mail.gmail.com>
2016-09-18 16:05 ` Peter Todd
2016-09-19 16:13 ` Tom Harding [this message]
2016-09-19 17:56 ` Peter Todd
2016-09-19 19:53 ` Tom Harding
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