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From: Peter Todd <pete@petertodd.org>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security
Date: Mon, 11 Jul 2022 17:56:53 -0400	[thread overview]
Message-ID: <YsycpTbb3IYpQ2I7@petertodd.org> (raw)
In-Reply-To: <YsyX9Hjz4LU5otaT@petertodd.org>

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On Mon, Jul 11, 2022 at 05:36:52PM -0400, Peter Todd via bitcoin-dev wrote:
> On Mon, Jul 11, 2022 at 04:35:02PM -0400, Russell O'Connor via bitcoin-dev wrote:
> > > What happens after that I'm not sure.
> > >
> > 
> > Miners will learn to create anyone-can-spend outputs to bribe other miners
> > to build on their block rather than reorg it.  (Due to the coinbase
> > maturity, this will require some amount of floating capital.)
> 
> ...and that's a disaster for mining centralization, because the smaller miners
> need to pay larger bribes than larger miners. Not to mention having to keep
> capital around to do it.

Also, note how from a practical point of view, we'll need to add a new type of
tx that's only valid in a specific block, or other miners will just reorg those
anyone-can-spend outputs to steal them. It's not all that trivial to actually
do that... you'd have to have a signature that commits to the non-segwit part
of the coinbase outputs. Ugh.

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

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  reply	other threads:[~2022-07-11 21:56 UTC|newest]

Thread overview: 35+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2022-07-11 18:12 [bitcoin-dev] Security problems with relying on transaction fees for security Bram Cohen
2022-07-11 18:38 ` micaroni
2022-07-11 18:43 ` Erik Aronesty
2022-07-11 19:45 ` vjudeu
2022-07-11 20:35 ` Russell O'Connor
2022-07-11 20:52   ` Erik Aronesty
2022-07-11 21:36   ` Peter Todd
2022-07-11 21:56     ` Peter Todd [this message]
2022-07-12  0:21       ` Russell O'Connor
2022-07-12  0:37         ` Peter Todd
2022-07-14  0:54         ` Anthony Towns
2022-07-11 21:18 ` Pox
2022-07-11 21:53 ` Peter Todd
2022-07-12  2:47   ` Bram Cohen
2022-07-11 22:19 ` James MacWhyte
2022-07-11 22:26   ` Peter Todd
2022-07-12  0:01     ` James MacWhyte
2022-07-12  0:31       ` Peter Todd
2022-07-13  0:38     ` Tom Harding
2022-07-13 12:18       ` Erik Aronesty
2022-07-11 23:29 ` Anthony Towns
2022-07-12  3:56 Peter
2022-07-12 11:57 ` Erik Aronesty
2022-07-12 15:08   ` Peter
2022-07-12 17:46   ` Ryan Grant
     [not found] <mailman.82083.1657699581.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-13  9:43 ` John Tromp
2022-07-13 11:56   ` John Tromp
2022-07-13 12:11   ` Gino Pinuto
2022-07-13 13:29     ` Manuel Costa
2022-07-14  9:33       ` vjudeu
2022-07-14  9:57         ` Erik Aronesty
2022-07-14 11:42           ` Gino Pinuto
2022-07-14 16:01             ` Erik Aronesty
2022-07-14 16:27             ` Manuel Costa
2022-07-15  6:03               ` vjudeu

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