Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security

From: Peter Todd <[email-masked]>
Date: Mon, 11 Jul 2022 20:37:11 -0400

On Mon, Jul 11, 2022 at 08:21:40PM -0400, Russell O'Connor via bitcoin-dev wrote:
> 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.

...and that's hardly a bribe. That's just being unable to mine competitively
because your operation is too small.

Anyway, I think all this is a good example of how mining being dependent on
fee-income makes mining much more complex, and harder to do as a small player.
Not good.

> Also your point about centralization pressure is well taken.

Thanks

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org