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From: Jonathan Toomim <j@toom.im>
In-Reply-To: <CAFVRnyrqiNY_JOqhv2ysm2WsBMYsU3tTAASAtHzMbA68_9Yx8g@mail.gmail.com>
Date: Wed, 5 Apr 2017 23:24:04 -0700
Message-Id: <F5F02B94-E094-4C16-80B6-8B0876E423E4@toom.im>
References: <CAAS2fgR84898xD0nyq7ykJnB7qkdoCJYnFg6z5WZEUu0+-=mMA@mail.gmail.com>
	<20170406023123.GA1071@savin.petertodd.org>
	<CA+KqGkqSxeAUZFVFqM_QkEWcGFHgZXwGuOE==7HpXp1+D_Tj3Q@mail.gmail.com>
	<20170406024910.GA1271@savin.petertodd.org>
	<CAFVRnyrqiNY_JOqhv2ysm2WsBMYsU3tTAASAtHzMbA68_9Yx8g@mail.gmail.com>
To: 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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Ethically, this situation has some similarities to the DAO fork. We have =
an entity who closely examined the code, found an unintended =
characteristic of that code, and made use of that characteristic in =
order to gain tens of millions of dollars. Now that developers are aware =
of it, they want to modify the code in order to negate as much of the =
gains as possible.

There are differences, too, of course: the DAO attacker was explicitly =
malicious and stole Ether from others, whereas Bitmain is just =
optimizing their hardware better than anyone else and better than some =
of us think they should be allowed to.

In both cases, developers are proposing that the developers and a =
majority of users collude to reduce the wealth of a single entity by =
altering the blockchain rules.

In the case of the DAO fork, users were stealing back stolen funds, but =
that justification doesn't apply in this case. On the other hand, in =
this case we're talking about causing someone a loss by reducing the =
value of hardware investments rather than forcibly taking back their =
coins, which is less direct and maybe more justifiable.

While I don't like patented mining algorithms, I also don't like the =
idea of playing Calvin Ball on the blockchain. Rule changes should not =
be employed as a means of disempowering and empoverishing particular =
entities without very good reason. Whether patenting a mining =
optimization qualifies as good reason is questionable.

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