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It might open a window allowing a large intact miner to double spend. If bitmain (or an attacker) took down 70% of the mining power but one miner either didn't
by Phlarp 9y ago
It might open a window allowing a large intact miner to double spend.
If bitmain (or an attacker) took down 70% of the mining power but one miner either didn't use any bitmain hardware or was otherwise protected from the shutdown they would very likely have over 50% of the remaining hashrate. This could give them control over the blockchain until other miners got back online and their share of the overall hashrate dropped below 50% again, worse yet a difficulty correction won't fix things if other miners are slow to recover.
- olegkikin 9y agoWho is that "large intact miner"?
- Phlarp 9y agoI didn't have a specific miner in thought while commenting, but in this instance it could be 1) a miner that does not use any bitmain equipment 2) a miner that uses bitmain equipment but has otherwise preemptively mitigated this attack vector or 3) Bitmain themselves acting maliciously.
- olegkikin 9y agoYeah, so can you name that mysterious miner? You can see the big ones here, for instance: https://blockchain.info/blocks https://blockchain.info/blocks Which one is it?
- Phlarp 9y agoI have absolutely zero insight into the security practices of bitcoin mining operations. I suspect at least some of them take it seriously considering the amount of money involved.
- xg15 9y agoBitmain themselves?