From mboxrd@z Thu Jan 1 00:00:00 1970 Received: from sog-mx-1.v43.ch3.sourceforge.com ([172.29.43.191] helo=mx.sourceforge.net) by sfs-ml-1.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1Wcyo2-0002Cf-EW for bitcoin-development@lists.sourceforge.net; Wed, 23 Apr 2014 15:09:50 +0000 Received-SPF: pass (sog-mx-1.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.219.50 as permitted sender) client-ip=209.85.219.50; envelope-from=mh.in.england@gmail.com; helo=mail-oa0-f50.google.com; Received: from mail-oa0-f50.google.com ([209.85.219.50]) by sog-mx-1.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1Wcynx-0007el-D1 for bitcoin-development@lists.sourceforge.net; Wed, 23 Apr 2014 15:09:50 +0000 Received: by mail-oa0-f50.google.com with SMTP id i11so1168740oag.9 for ; Wed, 23 Apr 2014 08:09:40 -0700 (PDT) MIME-Version: 1.0 X-Received: by 10.60.132.236 with SMTP id ox12mr1020517oeb.81.1398265779912; Wed, 23 Apr 2014 08:09:39 -0700 (PDT) Sender: mh.in.england@gmail.com Received: by 10.76.96.180 with HTTP; Wed, 23 Apr 2014 08:09:39 -0700 (PDT) In-Reply-To: References: Date: Wed, 23 Apr 2014 17:09:39 +0200 X-Google-Sender-Auth: 8n1KAH7JpwmyyG45kxIZTyOV8Qo Message-ID: From: Mike Hearn To: Alex Mizrahi Content-Type: multipart/alternative; boundary=047d7b41cd281d775304f7b71fca X-Spam-Score: -0.5 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (mh.in.england[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1Wcynx-0007el-D1 Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] Coinbase reallocation to discourage Finney attacks X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Wed, 23 Apr 2014 15:09:50 -0000 --047d7b41cd281d775304f7b71fca Content-Type: text/plain; charset=UTF-8 > > No. Bitcoin should work if miners are merely individually rational, i.e. > they try to maximize their pay-offs without colluding with others. > And it still would. Non-collusive miners cast votes based on the outcome of their own attempts to double spend. If enough agree then they all agree that the vote is binding. > I guess word "honest" might have different meanings, that can be a source > of confusing. > 1. Honest -- not trying to destroy bitcoin > 2. Honest -- following rules which are not required by the protocol > I'm using it in the same sense Satoshi used it. Honest miners work to prevent double spends. That's the entire justification for their existence. Miners that are deliberately trying to double spend are worse than useless. --047d7b41cd281d775304f7b71fca Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
No. Bitcoin should work if miners are merely individua= lly rational, i.e. they try to maximize their pay-offs without colluding wi= th others.

And it still would. Non-collusive miners cast votes based on the outcome of= their own attempts to double spend. If enough agree then they all agree th= at the vote is binding.
=C2=A0
I guess word "honest" might hav= e different meanings, that can be a source of confusing.
1. Honest -- not trying to destroy bitcoin
2. Honest -- foll= owing rules which are not required by the protocol
<= /blockquote>

I'm using it in the same sense Satoshi = used it. Honest miners work to prevent double spends. That's the entire= justification for their existence. Miners that are deliberately trying to = double spend are worse than useless.
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