[Bitcoin-development] Coinbase reallocation to discourage Finney attacks

Justus Ranvier justusranvier at gmail.com
Wed Apr 23 18:04:49 UTC 2014

Hash: SHA1

On 04/23/2014 05:57 PM, Mike Hearn wrote:
> 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.

The integrity of Bitcoin is more important than you and your personal

You don't have the right to decide which valid scripts in the
blockchain will be disregarded, and neither does anyone else.

If you don't like what's in the blockchain, you and everybody else can
work within the protocol to orphan the offending block.

But if you fail, then what's written in the blockchain is final and
the sole purpose of the network is to enforce it - deal with it.

PS: We don't even know who runs BitUndo. They seem to have lots of
money to spend on web design - I wonder where it came from?

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