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Date: Mon, 11 Jul 2022 20:37:11 -0400
From: Peter Todd <pete@petertodd.org>
To: Russell O'Connor <roconnor@blockstream.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Message-ID: <YszCN9cnDt0kG3++@petertodd.org>
References: <CAHUJnBDYDbgr3C158o7c6_XXdG+kqJruFo=od_RmPFk_GS0udw@mail.gmail.com>
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Subject: Re: [bitcoin-dev] Security problems with relying on transaction
fees for security
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On Mon, Jul 11, 2022 at 08:21:40PM -0400, Russell O'Connor via bitcoin-dev =
wrote:
> Oops, you are right. We need the bribe to be the output of the coinbase,
> but due to the maturity rule, it isn't really a bribe.
>=20
> Too bad coinbases cannot take other coinbase outputs as inputs to bypass
> the maturity rule.
>
> I guess that means the bribe has to be by leaving transactions in the
> mempool.
=2E..and that's hardly a bribe. That's just being unable to mine competitiv=
ely
because your operation is too small.
Anyway, I think all this is a good example of how mining being dependent on
fee-income makes mining much more complex, and harder to do as a small play=
er.
Not good.
> Also your point about centralization pressure is well taken.
Thanks
--=20
https://petertodd.org 'peter'[:-1]@petertodd.org
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