Received: from sog-mx-2.v43.ch3.sourceforge.com ([172.29.43.192]
	helo=mx.sourceforge.net)
	by sfs-ml-1.v29.ch3.sourceforge.com with esmtp (Exim 4.76)
	(envelope-from <mh.in.england@gmail.com>) id 1YzkLV-0008E4-Ly
	for bitcoin-development@lists.sourceforge.net;
	Tue, 02 Jun 2015 11:27:01 +0000
Received-SPF: pass (sog-mx-2.v43.ch3.sourceforge.com: domain of gmail.com
	designates 209.85.212.181 as permitted sender)
	client-ip=209.85.212.181; envelope-from=mh.in.england@gmail.com;
	helo=mail-wi0-f181.google.com; 
Received: from mail-wi0-f181.google.com ([209.85.212.181])
	by sog-mx-2.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128)
	(Exim 4.76) id 1YzkLU-0003Sc-Ok
	for bitcoin-development@lists.sourceforge.net;
	Tue, 02 Jun 2015 11:27:01 +0000
Received: by wiwd19 with SMTP id d19so15842986wiw.0
	for <bitcoin-development@lists.sourceforge.net>;
	Tue, 02 Jun 2015 04:26:54 -0700 (PDT)
MIME-Version: 1.0
X-Received: by 10.180.89.234 with SMTP id br10mr29981534wib.86.1433244414741; 
	Tue, 02 Jun 2015 04:26:54 -0700 (PDT)
Sender: mh.in.england@gmail.com
Received: by 10.194.16.40 with HTTP; Tue, 2 Jun 2015 04:26:54 -0700 (PDT)
In-Reply-To: <trinity-cecc9151-6544-43e0-a958-ac9e4d7699ff-1433243988016@3capp-mailcom-bs06>
References: <trinity-cecc9151-6544-43e0-a958-ac9e4d7699ff-1433243988016@3capp-mailcom-bs06>
Date: Tue, 2 Jun 2015 13:26:54 +0200
X-Google-Sender-Auth: _0O5T7L66XotI1yXqzV-_pBVIHM
Message-ID: <CANEZrP3W97oqqHLMu2i3y6ogp5YPCJ_vhNHTcQ9zN8f4mLGqAg@mail.gmail.com>
From: Mike Hearn <mike@plan99.net>
To: cipher anthem <cipher.anthem@gmx.com>
Content-Type: multipart/alternative; boundary=e89a8f3ba2d537931605178738af
X-Spam-Score: -0.5 (/)
X-Spam-Report: Spam Filtering performed by mx.sourceforge.net.
	See http://spamassassin.org/tag/ for more details.
	-1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for
	sender-domain
	0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider
	(mh.in.england[at]gmail.com)
	-0.0 SPF_PASS               SPF: sender matches SPF record
	1.0 HTML_MESSAGE           BODY: HTML included in message
	0.1 DKIM_SIGNED            Message has a DKIM or DK signature,
	not necessarily valid
	-0.1 DKIM_VALID Message has at least one valid DKIM or DK signature
X-Headers-End: 1YzkLU-0003Sc-Ok
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development]
	=?utf-8?q?Fwd=3A_Block_Size_Increase_Requir?=
	=?utf-8?b?ZW1lbnRz4oCP?=
X-BeenThere: bitcoin-development@lists.sourceforge.net
X-Mailman-Version: 2.1.9
Precedence: list
List-Id: <bitcoin-development.lists.sourceforge.net>
List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
	<mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe>
List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development>
List-Post: <mailto:bitcoin-development@lists.sourceforge.net>
List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help>
List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
	<mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe>
X-List-Received-Date: Tue, 02 Jun 2015 11:27:01 -0000

--e89a8f3ba2d537931605178738af
Content-Type: text/plain; charset=UTF-8

>
> But the majority of the hashrate can now perform double spends on your
> chain! They can send bitcoins to exchanges, sell it, extract the money and
> build a new longer chain to get their bitcoins back.
>
Obviously if the majority of the mining hash rate is doing double spending
attacks on exchanges then the Bitcoin experiment is resolved as a failure
and it will become abandoned. This has been known since day one: it's in
the white paper. The basic assumption behind Bitcoin is that only a
minority of actors are dishonest - if the majority are then Satoshi's
scheme does not work.

So you are not stating anything new here.

--e89a8f3ba2d537931605178738af
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote"><blo=
ckquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #c=
cc solid;padding-left:1ex"><div><div style=3D"font-family:Verdana;font-size=
:12.0px"><div><div style=3D"line-height:21.3px;color:rgb(68,68,68);font-fam=
ily:Calibri,sans-serif;font-size:15px;font-style:normal;font-variant:normal=
;font-weight:normal;letter-spacing:normal;text-align:start;text-indent:0px;=
text-transform:none;white-space:normal;word-spacing:0px;background-color:rg=
b(255,255,255)"><div><div><p>But the majority of the hashrate can now perfo=
rm double spends on your chain! They can send bitcoins to exchanges, sell i=
t, extract the money and build a new longer chain to get their bitcoins bac=
k.</p></div></div></div></div></div></div></blockquote><div>Obviously if th=
e majority of the mining hash rate is doing double spending attacks on exch=
anges then the Bitcoin experiment is resolved as a failure and it will beco=
me abandoned. This has been known since day one: it&#39;s in the white pape=
r. The basic assumption behind Bitcoin is that only a minority of actors ar=
e dishonest - if the majority are then Satoshi&#39;s scheme does not work.<=
/div><div><br></div><div>So you are not stating anything new here.</div></d=
iv></div></div>

--e89a8f3ba2d537931605178738af--