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From: Peter Todd <pete@petertodd.org>
To: erik@q32.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 23:23:37 -0400	[thread overview]
Message-ID: <20170406032337.GA1478@savin.petertodd.org> (raw)
In-Reply-To: <CAJowKgL_BfJyyp=z6PB3mj+KBy0y9ParspbbnhoOTA0Cfr6C6g@mail.gmail.com>

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On Wed, Apr 05, 2017 at 11:11:53PM -0400, Erik Aronesty wrote:
> If the primary purpose of pow is to destroy value, then a masked proof of
> burn to an expanded address that assigns the private key holder the right

You're talking about proof-of-stake here.

At best it's very difficult for such a "proof-of-burn" to _actually_ be a
proof, as the burn only happens if the consensus mechanism ultimately includes
that burn. Contrast that to proof-of-work's incredibly simple proof: you _know_
energy was destroyed to find a PoW solution, regardless of what consensus is
ultimately reached.

It's the difference between a computer secured from hackers with an anti-virus
scanner, and a computer secured by the fact that it's not connected to the
internet at all.

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

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  reply	other threads:[~2017-04-06  3:23 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
2017-04-06  3:11       ` Erik Aronesty
2017-04-06  3:23         ` Peter Todd [this message]
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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