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Date: Wed, 17 Jul 2013 08:50:52 -0400
From: Peter Todd <pete@petertodd.org>
To: Tamas Blummer <tamas@bitsofproof.com>
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Cc: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] SPV bitcoind? (was: Introducing
BitcoinKit.framework)
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On Wed, Jul 17, 2013 at 02:37:11PM +0200, Tamas Blummer wrote:
> Would not an SPV bitcoind transfer all control on validation rules to min=
er?
Yes
> A majority coalition of miner (pool operator) might even decide to change=
block reward
> rules if the rest of the network only verifies POW.
Widespread dependence on SPV mode is very dangerous for Bitcoin in
general due to that reason. Fraud proofs may help, but they're also
another layer of never-before-tested crypto on top of an already poorly
understood technology, bitcoin itself.
--=20
'peter'[:-1]@petertodd.org
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