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From: Alex Mizrahi <alex.mizrahi@gmail.com>
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Subject: Re: [Bitcoin-development] replace-by-fee v0.10.0rc4
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--047d7bea40ccc83036050ee455fc
Content-Type: text/plain; charset=UTF-8
> Yes, like any P2P network Bitcoin cannot work if a sufficiently large
> number of miners decide to attack it.
>
1. They won't be attacking Bitcoin, they will attack merchants who accept
payments with 0 confirmations. This attack has nothing to do with Bitcoin
consensus mechanism (as Bitcoin protocol doesn't provide a consensus over
mempool contents), thus it is not an attack on Bitcoin.
2. In the example I used, having 10% of hashpower is enough to offer 10%
success rate. Would you mind having 1 out of 10 hamburgers for free? If a
system can be attacked by a tiny fraction, it is a shitty system.
--047d7bea40ccc83036050ee455fc
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div class=3D"gmail_extra"><div class=3D"gmail_quote"><div=
>=C2=A0</div><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;b=
order-left:1px #ccc solid;padding-left:1ex"><div dir=3D"ltr"><div class=3D"=
gmail_extra"><div class=3D"gmail_quote"><div>Yes, like any P2P network Bitc=
oin cannot work if a sufficiently large number of miners decide to attack i=
t.</div></div></div></div></blockquote><div><br></div><div>1. They won'=
t be attacking Bitcoin, they will attack merchants who accept payments with=
0 confirmations. This attack has nothing to do with Bitcoin consensus mech=
anism (as Bitcoin protocol doesn't provide a consensus over mempool con=
tents), thus it is not an attack on Bitcoin.</div><div>2. In the example I =
used, having 10% of hashpower is enough to offer 10% success rate. Would yo=
u mind having 1 out of 10 hamburgers for free? If a system can be attacked =
by a tiny fraction, it is a shitty system.</div></div></div></div>
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