From: Pedro Worcel <pedro@worcel•com>
To: Gavin Andresen <gavinandresen@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Long-term mining incentives
Date: Thu, 14 May 2015 08:05:55 +1200 [thread overview]
Message-ID: <CAPS+U9-SzQeq5v+yzK6PiZrneLP3D7o-GVaJ4w=J22DPaoJBBg@mail.gmail.com> (raw)
In-Reply-To: <CABsx9T0K3xQUSY26VYoJzyAGkqCfRL_xnkQUrv7M-HpOvpio5w@mail.gmail.com>
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Thank you for your response, that does make sense. It's going to be
interesting to follow what is going to happen!
2015-05-14 3:41 GMT+12:00 Gavin Andresen <gavinandresen@gmail•com>:
> 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
>
>
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next prev parent reply other threads:[~2015-05-13 20:06 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
2015-05-13 20:05 ` Pedro Worcel [this message]
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
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