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From: Nagaev Boris <bnagaev@gmail.com>
Date: Thu, 1 May 2025 14:38:08 -0300
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Message-ID: <CAFC_Vt6c_DwmpCzNVCRWzz9E2AGn0PpkZzLeYeGNE1tYbUzyOA@mail.gmail.com>
Subject: Re: [bitcoindev] Re: Introducing Hourglass
To: Michael Tidwell <michael@tidwell.io>
Cc: Bitcoin Development Mailing List <bitcoindev@googlegroups.com>
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On Wed, Apr 30, 2025 at 12:26=E2=80=AFAM Michael Tidwell <michael@tidwell.i=
o> wrote:
> - 2. Single Entity rush spends:
> A single entity generates QC signatures and tries to rapidly flip the UTX=
Os while having their first mover competitive edge. They either broadcast t=
o the mempool, partner with miners, or mine directly. This creates potentia=
l miner collusion if P2PK fees remain low, pressuring the QC entity to rais=
e fees and incentivize miners before their competitive advantage expires an=
d others catch up.
>
[...]
>
> - 4. Patient Miner:
> A single QC capable entity, also operating as a miner or partners with a =
miner, chooses to be patient, including P2PK transactions only in their own=
blocks to maximize long-term profits.
IMHO for a single QC capable entity even if it mines itself or
partners with a miner, it would make sense to broadcast the
transaction publicly. If it doesn't broadcast, then it can only
capture one UTXO when it mines a block - rarely, depending on their
hashrate share. If it mines itself and broadcasts at the same time,
there is a possibility that another miner includes the transaction
into a block. So a rational QC capable entity would broadcast in
addition to mine themselves.
Also it would make sense to use different UTXOs for broadcasting and
for self mining: if another miner mines one UTXO, the QC entity can
continue mining another UTXO trying to mine the next block with it. If
they use the same UTXO, they would have to quickly make a signature
for a fresh UTXO for their own block. Or just have a pool of attacked
UTXOs and take them one by one...
--=20
Best regards,
Boris Nagaev
--=20
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