From: Tamas Blummer <tamas@bitsofproof•com>
To: Sergio Lerner <sergiolerner@certimix•com>
Cc: bitcoin-development@lists•sourceforge.net
Subject: Re: [Bitcoin-development] The Bitcoin Freeze on Transaction Attack (FRONT)
Date: Mon, 6 Oct 2014 06:29:15 -0700 [thread overview]
Message-ID: <DCDFAA23-015B-42C2-9094-02DEA6A9D296@bitsofproof.com> (raw)
In-Reply-To: <5432974B.4000606@certimix.com>
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Sergio,
you can call this an ORBS attack or an attempt of ad-hoc coalition forming for a fork.
Preparation Step:
Include a transaction sending a sizable amount between two of your own addresses in every block.
Miner can do this at zero cost in their own blocks.
Execution:
Embed into the preferred fork a transaction double spending the regular do-nothing transaction with one that offers a sufficiently high fee. This offers inceptive to rational miner to join the ad-hoc coalition for that fork.
Attempting to form an ad-hoc coalition using above steps is open to anyone, just cheaper and easier to execute for a miner.
Fortunately cost for (cumulative) proof-of-work creates a lower bound to the incentive that need to be offered. So your worry
of times where block subsidy is low is unwarranted as cost of POW will be high.
I do not think “disallowing” the implementation of rational mining is a viable option, since no one needs permission to implement whatever optimization he thinks is profitable and within the rules.
Tamas Blummer
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next prev parent reply other threads:[~2014-10-06 13:29 UTC|newest]
Thread overview: 14+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-10-05 23:00 Sergio Lerner
2014-10-05 23:40 ` Gregory Maxwell
2014-10-05 23:50 ` Gregory Maxwell
2014-10-05 23:54 ` Jorge Timón
2014-10-06 0:01 ` Gregory Maxwell
2014-10-06 11:02 ` Mike Hearn
2014-10-06 12:22 ` Tamas Blummer
2014-10-06 6:42 ` Alex Mizrahi
2014-10-06 13:21 ` Sergio Lerner
2014-10-06 13:29 ` Tamas Blummer [this message]
[not found] <543438E4.8080501@certimix.com>
2014-10-07 19:04 ` Sergio Lerner
2014-10-07 19:16 ` Gregory Maxwell
2014-10-07 20:04 ` Sergio Lerner
2014-10-08 10:19 ` Mike Hearn
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