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Message-ID: <53C7D118.4050908@monetize.io>
Date: Thu, 17 Jul 2014 09:35:20 -0400
From: Mark Friedenbach <mark@monetize.io>
Organization: Monetize.io Inc.
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Subject: Re: [Bitcoin-development] Mining Hashrate Caps
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Can someone explain to these guys and the public why promising to limit
yourselves to *only* a 50% chance of successfully double-spending a 6
confirm transaction is still not acceptable?
q=0.4
z=0 P=1
z=1 P=0.828861
z=2 P=0.736403
z=3 P=0.664168
z=4 P=0.603401
z=5 P=0.550625
z=6 P=0.50398
z=7 P=0.462301
z=8 P=0.424782
z=9 P=0.390828
z=10 P=0.359976
z=11 P=0.331858
z=12 P=0.306167
z=13 P=0.282649
z=14 P=0.261083
z=15 P=0.24128
z=16 P=0.223076
z=17 P=0.206324
z=18 P=0.190896
z=19 P=0.176676
On 07/17/2014 06:59 AM, Melvin Carvalho wrote:
> I noticed this article today.
>
> GHash Commits to 40% Hashrate Cap at Bitcoin Mining Summit
>
> http://www.coindesk.com/ghash-commits-40-hashrate-cap-bitcoin-mining-summit/
>
> Here's a quote from Satoshi when the mining arms race began:
>
> "We should have a gentleman’s agreement to postpone the GPU arms race as
> long as we can for the good of the network. It’s much easer to get new
> users up to speed if they don’t have to worry about GPU drivers and
> compatibility. It’s nice how anyone with just a CPU can compete fairly
> equally right now."
>
> Maybe outdated now, but I thought it was interesting.
>
>
> ------------------------------------------------------------------------------
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