[Bitcoin-development] replace-by-fee v0.10.0rc4
alex.mizrahi at gmail.com
Thu Feb 12 13:45:37 UTC 2015
> Yes, like any P2P network Bitcoin cannot work if a sufficiently large
> number of miners decide to attack it.
1. They won't be attacking Bitcoin, they will attack merchants who accept
payments with 0 confirmations. This attack has nothing to do with Bitcoin
consensus mechanism (as Bitcoin protocol doesn't provide a consensus over
mempool contents), thus it is not an attack on Bitcoin.
2. In the example I used, having 10% of hashpower is enough to offer 10%
success rate. Would you mind having 1 out of 10 hamburgers for free? If a
system can be attacked by a tiny fraction, it is a shitty system.
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