[Bitcoin-development] Coinbase reallocation to discourage Finney attacks

Justus Ranvier justusranvier at gmail.com
Wed Apr 23 14:52:04 UTC 2014

Hash: SHA1

On 04/23/2014 07:55 AM, Mike Hearn wrote:

> 2. Miners can vote to reallocate the coinbase value of bad blocks
> before they mature. If a majority of blocks leading up to maturity
> vote for reallocation, the value goes into a pot that subsequent
> blocks are allowed to claim for themselves. Thus there is no risk
> to voting "no" on a block, the work done by the Finney attacker is
> not wasted, and users do not have to suffer through huge reorgs.

If enough miners don't like a block that has been mined, they can all
work to orphan it without any change to the protocol whatsoever.

Why are proposing this a change to the network that allows miners to
vote to disregard output scripts, instead of creating an out of band
network via which miners can coordinate actions using the capabilities
the protocol already allows?

Once you've changed the network such that it is no longer a machine
that faithfully processes scripts, and instead is a machine via which
a set of controllers can decide which valid scripts will be honored
and which ones will not, what will be the next proposed condition
under which the miners can confiscate and redistribute balances?

- -- 
Support online privacy by using email encryption whenever possible.
Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k
Version: GnuPG v2.0.22 (GNU/Linux)
Comment: Using GnuPG with Thunderbird - http://www.enigmail.net/

-------------- next part --------------
A non-text attachment was scrubbed...
Name: 0x1B438BF4.asc
Type: application/pgp-keys
Size: 21191 bytes
Desc: not available
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140423/6ba05543/attachment.bin>

More information about the bitcoin-dev mailing list