From: Peter Todd <pete@petertodd•org>
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 17:56:53 -0400 [thread overview]
Message-ID: <YsycpTbb3IYpQ2I7@petertodd.org> (raw)
In-Reply-To: <YsyX9Hjz4LU5otaT@petertodd.org>
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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:[~2022-07-11 21:56 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 [this message]
2022-07-12 0:21 ` Russell O'Connor
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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