Re: [Bitcoin-development] Mining Hashrate Caps

2014-07-17 Thread David A. Harding
On Thu, Jul 17, 2014 at 09:35:20AM -0400, Mark Friedenbach wrote: > Can someone explain to these guys and the public why promising to limit > yourselves to *only* a 50% chance of successfully double-spending a 6 > confirm transaction is still not acceptable? Hi, Mark. We were asked on the bitcoin

Re: [Bitcoin-development] Mining Hashrate Caps

2014-07-17 Thread Mark Friedenbach
Can someone explain to these guys and the public why promising to limit yourselves to *only* a 50% chance of successfully double-spending a 6 confirm transaction is still not acceptable? q=0.4 z=0 P=1 z=1 P=0.828861 z=2 P=0.736403 z=3 P=0.664168 z=4 P=0.603401 z=5 P=0.55062

[Bitcoin-development] Mining Hashrate Caps

2014-07-17 Thread Melvin Carvalho
I noticed this article today. GHash Commits to 40% Hashrate Cap at Bitcoin Mining Summit http://www.coindesk.com/ghash-commits-40-hashrate-cap-bitcoin-mining-summit/ Here's a quote from Satoshi when the mining arms race began: "We should have a gentleman’s agreement to postpone the GPU arms rac