From: "Russell O'Connor" <roconnor@blockstream•com>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security
Date: Mon, 11 Jul 2022 20:21:40 -0400 [thread overview]
Message-ID: <CAMZUoKmsCjpcU323_Nbw2UBkcqTmBc9+yd9i=QBZvDX-gdH_hw@mail.gmail.com> (raw)
In-Reply-To: <YsycpTbb3IYpQ2I7@petertodd.org>
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Oops, you are right. We need the bribe to be the output of the coinbase,
but due to the maturity rule, it isn't really a bribe.
Too bad coinbases cannot take other coinbase outputs as inputs to bypass
the maturity rule.
I guess that means the bribe has to be by leaving transactions in the
mempool.
Also your point about centralization pressure is well taken.
On Mon, Jul 11, 2022 at 5:56 PM Peter Todd <pete@petertodd•org> wrote:
> On Mon, Jul 11, 2022 at 05:36:52PM -0400, Peter Todd via bitcoin-dev wrote:
> > On Mon, Jul 11, 2022 at 04:35:02PM -0400, Russell O'Connor via
> bitcoin-dev wrote:
> > > > What happens after that I'm not sure.
> > > >
> > >
> > > Miners will learn to create anyone-can-spend outputs to bribe other
> miners
> > > to build on their block rather than reorg it. (Due to the coinbase
> > > maturity, this will require some amount of floating capital.)
> >
> > ...and that's a disaster for mining centralization, because the smaller
> miners
> > need to pay larger bribes than larger miners. Not to mention having to
> keep
> > capital around to do it.
>
> Also, note how from a practical point of view, we'll need to add a new
> type of
> tx that's only valid in a specific block, or other miners will just reorg
> those
> anyone-can-spend outputs to steal them. It's not all that trivial to
> actually
> do that... you'd have to have a signature that commits to the non-segwit
> part
> of the coinbase outputs. Ugh.
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
>
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next prev parent reply other threads:[~2022-07-12 0:21 UTC|newest]
Thread overview: 35+ messages / expand[flat|nested] mbox.gz Atom feed top
2022-07-11 18:12 Bram Cohen
2022-07-11 18:38 ` micaroni
2022-07-11 18:43 ` Erik Aronesty
2022-07-11 19:45 ` vjudeu
2022-07-11 20:35 ` Russell O'Connor
2022-07-11 20:52 ` Erik Aronesty
2022-07-11 21:36 ` Peter Todd
2022-07-11 21:56 ` Peter Todd
2022-07-12 0:21 ` Russell O'Connor [this message]
2022-07-12 0:37 ` Peter Todd
2022-07-14 0:54 ` Anthony Towns
2022-07-11 21:18 ` Pox
2022-07-11 21:53 ` Peter Todd
2022-07-12 2:47 ` Bram Cohen
2022-07-11 22:19 ` James MacWhyte
2022-07-11 22:26 ` Peter Todd
2022-07-12 0:01 ` James MacWhyte
2022-07-12 0:31 ` Peter Todd
2022-07-13 0:38 ` Tom Harding
2022-07-13 12:18 ` Erik Aronesty
2022-07-11 23:29 ` Anthony Towns
2022-07-12 3:56 Peter
2022-07-12 11:57 ` Erik Aronesty
2022-07-12 15:08 ` Peter
2022-07-12 17:46 ` Ryan Grant
[not found] <mailman.82083.1657699581.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-13 9:43 ` John Tromp
2022-07-13 11:56 ` John Tromp
2022-07-13 12:11 ` Gino Pinuto
2022-07-13 13:29 ` Manuel Costa
2022-07-14 9:33 ` vjudeu
2022-07-14 9:57 ` Erik Aronesty
2022-07-14 11:42 ` Gino Pinuto
2022-07-14 16:01 ` Erik Aronesty
2022-07-14 16:27 ` Manuel Costa
2022-07-15 6:03 ` vjudeu
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