From: Gavin Andresen <gavinandresen@gmail•com>
To: Adam Back <adam@cypherspace•org>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Long-term mining incentives
Date: Wed, 13 May 2015 11:41:16 -0400 [thread overview]
Message-ID: <CABsx9T0K3xQUSY26VYoJzyAGkqCfRL_xnkQUrv7M-HpOvpio5w@mail.gmail.com> (raw)
In-Reply-To: <CALqxMTGebNMARgps9mqxDSOw0cX9aeZZim82g8a4vE6sCPHq-g@mail.gmail.com>
[-- Attachment #1: Type: text/plain, Size: 1241 bytes --]
On Tue, May 12, 2015 at 7:48 PM, Adam Back <adam@cypherspace•org> wrote:
> I think its fair to say no one knows how to make a consensus that
> works in a decentralised fashion that doesnt weaken the bitcoin
> security model without proof-of-work for now.
>
Yes.
> I am presuming Gavin is just saying in the context of not pre-judging
> the future that maybe in the far future another innovation might be
> found (or alternatively maybe its not mathematically possible).
>
Yes... or an alternative might be found that weakens the Bitcoin security
model by a small enough amount that it either doesn't matter or the
weakening is vastly overwhelmed by some other benefit.
I'm influenced by the way the Internet works; packets addressed to
74.125.226.67 reliably get to Google through a very decentralized system
that I'll freely admit I don't understand. Yes, a determined attacker can
re-route packets, but layers of security on top means re-routing packets
isn't enough to pull off profitable attacks.
I think Bitcoin's proof-of-work might evolve in a similar way. Yes, you
might be able to 51% attack the POW, but layers of security on top of POW
will mean that won't be enough to pull off profitable attacks.
--
--
Gavin Andresen
[-- Attachment #2: Type: text/html, Size: 2025 bytes --]
next prev parent reply other threads:[~2015-05-13 15:41 UTC|newest]
Thread overview: 37+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-11 16:28 Thomas Voegtlin
2015-05-11 16:52 ` insecurity
2015-05-11 17:29 ` Gavin Andresen
2015-05-12 12:35 ` Thomas Voegtlin
[not found] ` <CABsx9T1h7p3hDr7ty43uxsYs-oNRpndzg=dowST2tXtogxRm2g@mail.gmail.com>
[not found] ` <555210AF.3090705@electrum.org>
2015-05-12 16:10 ` Gavin Andresen
2015-05-12 16:21 ` Dave Hudson
2015-05-12 21:24 ` Pedro Worcel
2015-05-12 23:48 ` Adam Back
2015-05-13 15:41 ` Gavin Andresen [this message]
2015-05-13 20:05 ` Pedro Worcel
2015-05-13 9:49 ` Thomas Voegtlin
2015-05-13 10:14 ` Tier Nolan
2015-05-13 10:31 ` Alex Mizrahi
2015-05-13 11:29 ` Tier Nolan
2015-05-13 12:26 ` Alex Mizrahi
2015-05-13 13:24 ` Gavin
2015-05-13 13:28 ` Tier Nolan
2015-05-13 14:26 ` Alex Mizrahi
2015-05-13 23:46 ` Jorge Timón
2015-05-14 0:11 ` Jorge Timón
2015-05-14 0:48 ` Aaron Voisine
2015-05-14 0:58 ` Pieter Wuille
2015-05-14 1:13 ` Aaron Voisine
2015-05-14 1:19 ` Pieter Wuille
2015-05-14 1:31 ` Aaron Voisine
2015-05-14 2:34 ` Aaron Voisine
2015-05-16 20:35 ` Owen Gunden
2015-05-16 22:18 ` Tom Harding
2015-05-17 1:08 ` Aaron Voisine
2015-05-14 0:44 ` Melvin Carvalho
2015-05-25 18:31 ` Mike Hearn
2015-05-26 18:47 ` Thomas Voegtlin
2015-05-27 21:59 ` Mike Hearn
2015-05-27 22:22 ` Gregory Maxwell
2015-05-28 10:30 ` Mike Hearn
2015-05-13 17:49 Damian Gomez
2015-05-18 2:29 Michael Jensen
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to=CABsx9T0K3xQUSY26VYoJzyAGkqCfRL_xnkQUrv7M-HpOvpio5w@mail.gmail.com \
--to=gavinandresen@gmail$(echo .)com \
--cc=adam@cypherspace$(echo .)org \
--cc=bitcoin-development@lists$(echo .)sourceforge.net \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox