Christophe Biocca wrote: > The problem is that since the rule > isn't enforceable, no miner will wait before mining on the longest > chain (which is the rational move), and you're back to where we are > now.
Back up to the miner who decided to include a "seasoned" double-spend in his block. Let's say he saw it 21 seconds after he saw an earlier spend, and included it, despite the rule. The expected cost of including the respend is any revenue loss from doing so: (total miner revenue of block)*(fraction of hashpower following the rule). So today, if only 1% of hashpower follows the rule (ie a near total failure of consensus implementation), he still loses at least .25 BTC. .25 BTC is about 1000x the typical "double-spend premium" I'm seeing right now. Wouldn't the greedy-rational miner just decide to include the earlier spend instead? ------------------------------------------------------------------------------ "Accelerate Dev Cycles with Automated Cross-Browser Testing - For FREE Instantly run your Selenium tests across 300+ browser/OS combos. Get unparalleled scalability from the best Selenium testing platform available Simple to use. Nothing to install. Get started now for free." http://p.sf.net/sfu/SauceLabs _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
