[bitcoin-dev] Significant losses by double-spending unconfirmed transactions

Peter Todd pete at petertodd.org
Wed Jul 15 15:59:03 UTC 2015

On Wed, Jul 15, 2015 at 08:49:13AM -0700, Me wrote:
> > Blockcypher's "confidence factor" model(1)
> > under the hood - yet another one of those sybil attacking network
> > monitoring things
> Peter, I noticed on your twitter you have a lot of bad things to say about Blockcypher and their business model (which I might not full agree, but totally respect), can you share any evidence they perform any form of Sybil attack on the network, please. 

For Blockcypher to succesfully do what they claim to do they need to
connect to a large % of nodes on the network; that right there is a
sybil attack. It's an approach that uses up connection slots for the
entire network and isn't scalable; if more than a few services were
doing that the Bitcoin network would become significantly less reliable,
at some point collapsing entirely.

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