>A dishonest miner majority can commit fraud against you, they can mine only empty blocks, they can do various other things that render your money worthless.

Mining empty blocks is not fraud.

If you want to use terms like "honest miners" and "fraud", please define them so we can at least be on the same page.

I am defining an honest miner as one that follows the rules of the protocol. Obviously your definition is different.

On Tue, Sep 29, 2015 at 12:51 PM, Mike Hearn <hearn@vinumeris.com> wrote:

>because Bitcoin's basic security assumption is that a supermajority of miners are 'honest.'

Only if you rely on SPV.

No, you rely on miners honesty even if you run a full node. This is in the white paper. A dishonest miner majority can commit fraud against you, they can mine only empty blocks, they can do various other things that render your money worthless.