From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 14D2EBBD for ; Thu, 6 Apr 2017 17:04:32 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-qk0-f169.google.com (mail-qk0-f169.google.com [209.85.220.169]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 7A0AF195 for ; Thu, 6 Apr 2017 17:04:31 +0000 (UTC) Received: by mail-qk0-f169.google.com with SMTP id p22so42833146qka.3 for ; Thu, 06 Apr 2017 10:04:31 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:in-reply-to:references:from:date:message-id:subject:to; bh=G6zFpjQiiglmq11AG1G+J2AuygUE9hmt9DHRQ6t10zk=; b=ITSJplDhyak4d+R3kDNbubzzml49Zpkp6yI1c2d063hrdB2bT3OmjQdz2WRdYb+CMY ncXTaSSfD864K4m53uhhuwivDDNfyHUlQWEFUCUm5q3WZiRohjvQUPQkKBTlq6ecpbwz iDz1CD0cUGjGXk+2lKi7vsKODO6M3QAGem6xs2wNbUfxmOCoObBrTWKWTfZtaE269oPR NL4H1vKbhBYOJIVyPLwuE0+8Bgear9j95PYWaTs+J9KR0VtjM++f1PAlBY4ApKZz7BVD Hb47ezZNQjSz9gCfXycOt2eiEJrynTUv3+iUkQDz6ZTqoMOYj8xDNX5L6BNbZ7uKHY9i pQfQ== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:in-reply-to:references:from:date :message-id:subject:to; bh=G6zFpjQiiglmq11AG1G+J2AuygUE9hmt9DHRQ6t10zk=; b=BSiKkQgdN1H1TTMd1b1jlwpVZcuwnPDTQuWAFDE5JpO0QUEXyyT420N+7dIdQJMo84 TdY99JFGL9LZgzAfEB732ic0OAKw8sw+JYeg2gQVU/0M76/wRF5Qts9PdpELlgD4Qu4/ gbBw1CNYhfrcLR1eksqMnAhhksYg72qEEnb6qdlV35F9gcNnR+9/JLzKJZAiuAqtH0Fu QAlEBd6iUntjpKkj9ARc5LGPHNXMl25Rz7xXvifQ9yBtLzfybh2nYPymvNQc1L6Gr54x 9Yd5ZufQ7CxC+l5S6ju7NEWkdulJjEOCgd+eP0TgA37TLuvXEWdgOmXQqMxLJ8Tym96E xn4A== X-Gm-Message-State: AFeK/H1zPjWwE7sCOoWi47OHOXSOFdEr8foJmDNfIDbJRJE8VKgs1jYVJ5ttH9mBj3BkmeZe6J0xQZFu5Hak9w== X-Received: by 10.55.72.4 with SMTP id v4mr36510924qka.21.1491498270366; Thu, 06 Apr 2017 10:04:30 -0700 (PDT) MIME-Version: 1.0 Received: by 10.55.55.79 with HTTP; Thu, 6 Apr 2017 10:04:29 -0700 (PDT) In-Reply-To: References: <20170406023123.GA1071@savin.petertodd.org> <20170406024910.GA1271@savin.petertodd.org> From: Alex Mizrahi Date: Thu, 6 Apr 2017 20:04:29 +0300 Message-ID: To: Bitcoin Protocol Discussion Content-Type: multipart/alternative; boundary=001a114a7d6a96a1a7054c8280f9 X-Spam-Status: No, score=-1.5 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, DKIM_VALID_AU, FREEMAIL_FROM, HTML_MESSAGE, RCVD_IN_DNSWL_NONE, RCVD_IN_SORBS_SPAM autolearn=no version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Subject: Re: [bitcoin-dev] BIP proposal: Inhibiting a covert attack on the Bitcoin POW function X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Thu, 06 Apr 2017 17:04:32 -0000 --001a114a7d6a96a1a7054c8280f9 Content-Type: text/plain; charset=UTF-8 > Ethically, this situation has some similarities to the DAO fork. There are no similarities. The DAO fork was against the principles of cryptocurrencies: a change of the ledger done in violation of pre-agreed rules. The whole point of cryptocurrency is to avoid shit like that. (E.g. a central banker changing ledger as he wants.) Greg's proposal is in line with the principles of cryptocurrencies: PoW-based cryptocurrency can work only if there is a competition between miners, which requires all miners to have equal access to the technology. The notion that Bitmain is entitled to future profits is completely ridiculous. Every investment has a risk, and doing unusual stuff which boosts your profits is associated with increased risk. Developers just need to make sure all miners are on equal grounds, as that's the whole point of the protocol. If Bitmain loses their profits because of that it's really just Bitmain's problem. --001a114a7d6a96a1a7054c8280f9 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable

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Ethically, this situation has some similarit= ies to the DAO fork.=C2=A0

There are no sim= ilarities.

The DAO fork was against the principles= of cryptocurrencies: a change of the ledger done in violation of pre-agree= d rules. The whole point of cryptocurrency is to avoid shit like that. (E.g= . a central banker changing ledger as he wants.)

G= reg's proposal is in line with the principles of cryptocurrencies: PoW-= based cryptocurrency can work only if there is a competition between miners= , which requires all miners to have equal access to the technology.

The notion that Bitmain is entitled to future profits is = completely ridiculous. Every investment has a risk, and doing unusual stuff= which boosts your profits is associated with increased risk. Developers ju= st need to make sure all miners are on equal grounds, as that's the who= le point of the protocol. If Bitmain loses their profits because of that it= 's really just Bitmain's problem.
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