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From: Karl <gmkarl@gmail.com>
Date: Mon, 24 May 2021 20:55:34 -0400
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To: Billy Tetrud <billy.tetrud@gmail.com>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Reducing block reward via soft fork
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If bitcoin were to ever consider changing their PoW algorithm a
little, it seems that would immediately make purchased ASIC mining
equipment partially or wholly unusable to compromise the chain (and
temporarily reduce energy usage without necessarily reducing
security). One possible plan to deter a multibillionaire attack.
Also regarding the word "security" here, a 51% attack impacts some
parts of chain operations, but not others.
It seems to me bitcoin's biggest vulnerabilities are either covert
compromise of mining pool operations, or widespread compromise of
networked mining systems and client nodes. Far easier than
outcompeting the mining network with hardware.
I don't see why it would necessarily be made public if a government
compromised their nation's mining farms. Governments have skilled
operatives for things like that. People would guess it happened, and
the government would cover up the guesses with more powerful stories.
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