On Sun, Jul 31, 2022, 2:11 PM John Clark <[email protected]> wrote:
> On Sun, Jul 31, 2022 at 1:47 PM Jason Resch <[email protected]> wrote: > > *> In theory all existing miners but one could power down and it bitcoin >> would keep on going fine.* > > > If one miner was in charge of verifying the Blockchain for all bitcoin > transactions, or even just 51% of them, he could double spend bitcoins > whenever he wanted to. And that would be the end of bitcoin. > Bitcoin requires more than 51% of miners to follow the protocol. But a single honest one can run the network. But my point is the energy requirements are not part of any inherent part of the protocol nor is there any inherent computational difficulty in validation the chain or transactions. The only high cost is the one the protocol adds for the explicit purpose of throttling new blocks to 1 every 10 minutes. If there are fewer miners, this cost is reduced by the protocol. If there were only 100 miners running on lower power laptops, this cost would be no more than the cost of powering these 100 laptops. Jason > John K Clark See what's on my new list at Extropolis > <https://groups.google.com/g/extropolis> > eob > > > -- > You received this message because you are subscribed to the Google Groups > "Everything List" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/everything-list/CAJPayv2g264jBCkVcESTcNPddeZ4a9HPrV0pNivsN1V7Ydr8bQ%40mail.gmail.com > <https://groups.google.com/d/msgid/everything-list/CAJPayv2g264jBCkVcESTcNPddeZ4a9HPrV0pNivsN1V7Ydr8bQ%40mail.gmail.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/CA%2BBCJUjYeMuUSLi4ZMBkE_7CL4uvwzqkNV%2B7_2P%3DAo_SX9pH9Q%40mail.gmail.com.
