Date: Wed, 5 Apr 2017 23:23:37 -0400
From: Peter Todd <pete@petertodd.org>
To: erik@q32.com
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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 11:11:53PM -0400, Erik Aronesty wrote:
> If the primary purpose of pow is to destroy value, then a masked proof of
> burn to an expanded address that assigns the private key holder the right

You're talking about proof-of-stake here.

At best it's very difficult for such a "proof-of-burn" to _actually_ be a
proof, as the burn only happens if the consensus mechanism ultimately inclu=
des
that burn. Contrast that to proof-of-work's incredibly simple proof: you _k=
now_
energy was destroyed to find a PoW solution, regardless of what consensus is
ultimately reached.

It's the difference between a computer secured from hackers with an anti-vi=
rus
scanner, and a computer secured by the fact that it's not connected to the
internet at all.

--=20
https://petertodd.org 'peter'[:-1]@petertodd.org

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