[Lightning-dev] Breach tx vulnerability & CPFP attack

[Jannes Faber]

On 29 Mar 2016 2:15 a.m., "Rusty Russell" <rusty at rustcorp.com.au> wrote:

> Peter Todd once said small miners are more important than big miners
> (maybe it was in person; I can't find it with a quick google).  This
> is why.

Peter Todd:

> So, why do we give miners transaction fees anyway? Well, they are
providing a service of "mining a block", but the *real* service they are
providing is the service of being independent from other miners, and we
value that because we don't want >50%  of the hashing power to be
controlled by any one entity.
>
> When you say these small miners are inefficient, you're completely
ignoring what we actually want miners to do, and that is to provide
*independent* hashing power. The small miners are the most efficient at
providing this service, not the least.

Very interesting and very relevant (even 3 years later) thread overall:
https://bitcointalk.org/index.php?topic=144895.10
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