Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id CE572A88 for ; Thu, 6 Apr 2017 03:23:43 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from outmail148093.authsmtp.net (outmail148093.authsmtp.net [62.13.148.93]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 21ACEA5 for ; Thu, 6 Apr 2017 03:23:42 +0000 (UTC) Received: from mail-c247.authsmtp.com (mail-c247.authsmtp.com [62.13.128.247]) by punt20.authsmtp.com (8.14.2/8.14.2/) with ESMTP id v363NfUP039162; Thu, 6 Apr 2017 04:23:41 +0100 (BST) Received: from petertodd.org (ec2-52-5-185-120.compute-1.amazonaws.com [52.5.185.120]) (authenticated bits=0) by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id v363NcVF036480 (version=TLSv1/SSLv3 cipher=DHE-RSA-AES256-SHA bits=256 verify=NO); Thu, 6 Apr 2017 04:23:39 +0100 (BST) Received: from [127.0.0.1] (localhost [127.0.0.1]) by petertodd.org (Postfix) with ESMTPSA id E936F400FD; Thu, 6 Apr 2017 03:23:37 +0000 (UTC) Received: by localhost (Postfix, from userid 1000) id 4CCAF205F6; Wed, 5 Apr 2017 23:23:37 -0400 (EDT) Date: Wed, 5 Apr 2017 23:23:37 -0400 From: Peter Todd To: erik@q32.com Message-ID: <20170406032337.GA1478@savin.petertodd.org> References: <20170406023123.GA1071@savin.petertodd.org> <20170406024910.GA1271@savin.petertodd.org> MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha256; protocol="application/pgp-signature"; boundary="ew6BAiZeqk4r7MaW" Content-Disposition: inline In-Reply-To: User-Agent: Mutt/1.5.23 (2014-03-12) X-Server-Quench: 6dbbf4d8-1a78-11e7-bcdf-0015176ca198 X-AuthReport-Spam: If SPAM / abuse - report it at: http://www.authsmtp.com/abuse X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR aQdMdgQUGUUGAgsB AmEbW1BeUl57Wmo7 bghPaBtcak9QXgdq T0pMXVMcUgZuAmJS YGgeUR92fwUIcHx2 bQhkCiIJCkAufVt8 E0lcCGwHMGB9OjNL Bl1YdwJRcQRMLU5E Y1gxNiYHcQ5VPz4z GA41ejw8IwAXAgVt ChkXKkoVWk8PTHYd QRADFzQzHEsKDyx7 JBs4J0QAVE8NLkw5 MhMmXxoEMxJwQidf A0pKASkRH34+DyQ2 CwhGXEkYeAAA X-Authentic-SMTP: 61633532353630.1038:706 X-AuthFastPath: 0 (Was 255) X-AuthSMTP-Origin: 52.5.185.120/25 X-AuthVirus-Status: No virus detected - but ensure you scan with your own anti-virus system. X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Cc: Bitcoin Protocol Discussion Subject: Re: [bitcoin-dev] BIP proposal: Inhibiting a covert attack on the Bitcoin POW function X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Thu, 06 Apr 2017 03:23:44 -0000 --ew6BAiZeqk4r7MaW Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable 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 --ew6BAiZeqk4r7MaW Content-Type: application/pgp-signature; name="signature.asc" Content-Description: Digital signature -----BEGIN PGP SIGNATURE----- iQEcBAEBCAAGBQJY5bS0AAoJECSBQD2l8JH7YqMH/RJaFi3T3ld/80AwCBWLSaIA B8q/kVahcgEJQJB4n1eCAIoHVvovEonnN0qzxAtm6h75v1CdoOsp2+TL1YKKqUiI HsikJbIs0KZBRljK4xLq5fOG0HO9yaKvmNSvhaCeGNdYM1U+FcHPPeU1EiXKZ5l+ 6zs4CAmD/vwf6OL33kSlpIDkqddSxo3kt0wg6LA0qC91Bwy+RN51td1hhPChPAA/ fals5rt30unaonwFfzUan+doi/00jfOpOLyjH63qZ/1GHfIRQBOXmZZBDyB8d02t LKMQ0cePcGlJKJRTKNsTuyCmo9K1BiVOxfAchq0xTQCQ4FIQqbP98b3xP+ofBHY= =wIaM -----END PGP SIGNATURE----- --ew6BAiZeqk4r7MaW--