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From: Peter Todd <pete@petertodd.org>
To: Bram Cohen <bram@bittorrent.com>
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] BIP proposal: Inhibiting a covert attack on the Bitcoin POW function
Date: Wed, 5 Apr 2017 22:49:10 -0400	[thread overview]
Message-ID: <20170406024910.GA1271@savin.petertodd.org> (raw)
In-Reply-To: <CA+KqGkqSxeAUZFVFqM_QkEWcGFHgZXwGuOE==7HpXp1+D_Tj3Q@mail.gmail.com>

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On Wed, Apr 05, 2017 at 07:39:08PM -0700, Bram Cohen wrote:
> On Wed, Apr 5, 2017 at 7:31 PM, Peter Todd via bitcoin-dev <
> > While I'm in favour of blocking covert usage of ASICBOOST, there's every
> > reason
> > to block non-covert usage of it as well. In a low margin business like
> > mining,
> > the advatange it gives is enormous - quite possibly 10x your profit margin
> > -
> > and given that barrier free access to being able to purchase ASICs is
> > already
> > an archilles heal for Bitcoin there is every reason to eliminate this legal
> > vulnerability. Additionally, it's a technical vulnerability as well: we
> > want
> > getting into the ASIC manufacturing and design business to have as low
> > barriers
> > to entry as is feasible, and the ASICBOOST exploit significantly increases
> > the
> > minimum capital requirements to do so.
> >
> 
> Asicboost also has the problem that it isn't treating the hashing as a
> black box, and thus has impacts on what gets mined. In particular it
> creates an incentive to make blocks smaller. That's a very unwanted effect,
> and anything like it should be engineered out on principle.

Agreed! There's no benefit to Bitcoin for having it - one way or the other
miners are going to destroy ~12BTC/block worth of energy. Meanwhile it appears
to have lead to something like a year of stupid political bullshit based on a
secret advantage - there's no reason to invite a repeat of this episode.

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org

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  reply	other threads:[~2017-04-06  2:49 UTC|newest]

Thread overview: 49+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2017-04-05 21:37 [bitcoin-dev] BIP proposal: Inhibiting a covert attack on the Bitcoin POW function Gregory Maxwell
2017-04-05 23:05 ` theymos
2017-04-06  0:17   ` Gregory Maxwell
2017-04-06  0:39     ` Joseph Poon
2017-04-06  0:40       ` Joseph Poon
2017-04-06  1:32       ` Gregory Maxwell
2017-04-06  2:09         ` Joseph Poon
2017-04-05 23:25 ` Anthony Towns
2017-04-05 23:42 ` Joseph Poon
2017-04-06  2:10 ` Jonathan Toomim
2017-04-06 20:21   ` Jared Lee Richardson
2017-04-06  2:31 ` Peter Todd
2017-04-06  2:39   ` Bram Cohen
2017-04-06  2:49     ` Peter Todd [this message]
2017-04-06  3:11       ` Erik Aronesty
2017-04-06  3:23         ` Peter Todd
2017-04-06  3:23       ` David Vorick
2017-04-06  3:42         ` Peter Todd
2017-04-06  5:46         ` Thomas Daede
2017-04-06  6:24         ` Jonathan Toomim
2017-04-06 12:04           ` David Vorick
     [not found]           ` <CAMZUoK=oDAD9nhFAHkgncWtYxjBNh3qXbUffOH57QMnqjhmN6g@mail.gmail.com>
     [not found]             ` <CAMZUoKn8tr3LGbks0TnaCx9NTP6MZUzQ8PE6jDq1xiqpYyYwow@mail.gmail.com>
2017-04-06 13:55               ` Russell O'Connor
2017-04-06 16:49           ` Marco
2017-04-06 17:04           ` Alex Mizrahi
2017-04-06 17:13           ` Alex Mizrahi
2017-04-07 12:59             ` Jannes Faber
2017-04-07 13:28               ` Erik Aronesty
2017-04-06 17:31           ` Jared Lee Richardson
2017-04-06 17:26         ` Jared Lee Richardson
2017-04-06 15:36       ` Alex Mizrahi
2017-04-06 17:51     ` Jorge Timón
2017-04-06  7:24 ` bfd
2017-04-06  9:17 ` Luke Dashjr
2017-04-06 12:02 ` Luv Khemani
2017-04-06 12:11   ` Bryan Bishop
2017-04-06 17:43     ` Timo Hanke
2017-04-06 12:30   ` Luv Khemani
2017-04-06 15:15     ` Jorge Timón
2017-04-06 15:41       ` Daniel Robinson
2017-04-06 16:13 ` Andreas Schildbach
2017-04-06 21:38 ` Gregory Maxwell
2017-04-06  4:47 Oliver Petruzel
2017-04-06  4:49 Raystonn .
2017-04-06  7:47 ` praxeology_guy
2017-04-06 12:13   ` David Vorick
2017-04-07  1:34 Daniele Pinna
2017-04-07  6:46 ` Emilian Ursu
2017-04-07  7:44 ` Alex Mizrahi
2017-04-07  8:08 ` praxeology_guy

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