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authorPeter Todd <pete@petertodd.org>2017-04-05 22:49:10 -0400
committerbitcoindev <bitcoindev@gnusha.org>2017-04-06 02:49:16 +0000
commit662ee6721f5990e90e6e827712afcb1aac7b7005 (patch)
tree0467965d81335bb04422b21f0466820510dace52
parent81c71676dbf838a6fccab66a73603fd0b453f2d1 (diff)
downloadpi-bitcoindev-662ee6721f5990e90e6e827712afcb1aac7b7005.tar.gz
pi-bitcoindev-662ee6721f5990e90e6e827712afcb1aac7b7005.zip
Re: [bitcoin-dev] BIP proposal: Inhibiting a covert attack on the Bitcoin POW function
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+Date: Wed, 5 Apr 2017 22:49:10 -0400
+From: Peter Todd <pete@petertodd.org>
+To: Bram Cohen <bram@bittorrent.com>
+Message-ID: <20170406024910.GA1271@savin.petertodd.org>
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+Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
+Subject: Re: [bitcoin-dev] BIP proposal: Inhibiting a covert attack on the
+ Bitcoin POW function
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+On Wed, Apr 05, 2017 at 07:39:08PM -0700, Bram Cohen wrote:
+> On Wed, Apr 5, 2017 at 7:31 PM, Peter Todd via bitcoin-dev <
+> > While I'm in favour of blocking covert usage of ASICBOOST, there's every
+> > reason
+> > to block non-covert usage of it as well. In a low margin business like
+> > mining,
+> > the advatange it gives is enormous - quite possibly 10x your profit mar=
+gin
+> > -
+> > and given that barrier free access to being able to purchase ASICs is
+> > already
+> > an archilles heal for Bitcoin there is every reason to eliminate this l=
+egal
+> > vulnerability. Additionally, it's a technical vulnerability as well: we
+> > want
+> > getting into the ASIC manufacturing and design business to have as low
+> > barriers
+> > to entry as is feasible, and the ASICBOOST exploit significantly increa=
+ses
+> > the
+> > minimum capital requirements to do so.
+> >
+>=20
+> Asicboost also has the problem that it isn't treating the hashing as a
+> black box, and thus has impacts on what gets mined. In particular it
+> creates an incentive to make blocks smaller. That's a very unwanted effec=
+t,
+> and anything like it should be engineered out on principle.
+
+Agreed! There's no benefit to Bitcoin for having it - one way or the other
+miners are going to destroy ~12BTC/block worth of energy. Meanwhile it appe=
+ars
+to have lead to something like a year of stupid political bullshit based on=
+ a
+secret advantage - there's no reason to invite a repeat of this episode.
+
+--=20
+https://petertodd.org 'peter'[:-1]@petertodd.org
+
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