[Bitcoin-development] Coinbase reallocation to discourage Finney attacks

Mike Hearn mike at plan99.net
Wed Apr 23 17:57:20 UTC 2014

> Non-developers are more comfortable using social media tools. Blog
> posts can be shared, Tweeted, and commented upon using nothing more
> than a web browser.

I don't think Twitter is an appropriate medium for discussing the details
of byzantine consensus algorithms.

I'm not going to bother arguing in replies to a blog post. Suffice it to
say, miners are already handsomely compensated via both inflation and fees
for doing their job of preventing double spends. Your suggestion is people
should pay them EVEN MORE for simply not being corrupt. My proposal is
simpler - how about we find the ones that are claiming people's money via
coinbases yet not doing their jobs correctly, and take the money back (or
destroy it). I think I prefer that one. Miners that are maliciously double
spending cannot justify their existence, they offer no useful service and
do not deserve compensation as a result.
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