rich1.0npub138d0km3t8jujy9duwng26dh79fwuxqhw0xmxjdw2h2t2dgwzwpxsk9dl95https://nostr.ae/npub138d0km3t8jujy9duwng26dh79fwuxqhw0xmxjdw2h2t2dgwzwpxsk9dl95njumphttps://nostr.ae📅 Original date posted:2013-05-15 📝 Original message:I can't see this working, if 51% of the mining power doesn't like your coins, when you create the commitment they will reject it. If the commitment is opaque at the time of inclusion in the block then I will create multiple commitments and then after revealing the commitment and spend to you I will reveal the earlier commitment which commits the coins to an address I control. On the topic of reversibility, I suspect in the long term the lack of chargebacks will create issues as criminals learn that for the first time in history, kidnap & ransom is effective. Suffice to say after the first >= $10mn kidnapping-for-bitcoin heist, governments will be forced to decide how they view the system. It will likely fall somewhere between "arrest/question anyone identified holding tainted coins" to something nonsensical and reactionary like "blocking" bitcoin as Iran does TOR. Thanks, Caleb On 05/15/2013 07:49 AM, Adam Back wrote: > On Wed, May 15, 2013 at 07:19:06AM -0400, Peter Todd wrote: >> Protocols aren't set in stone - any attacker that controls enough >> hashing power to pose a 51% attack can simply demand that you use a >> Bitcoin client modified [to facilitate evaluation of his policy] > > Protocol voting is a vote per user policy preference, not a CPU vote, which > is the point. Current bitcoin protocol is vulnerable to hard to prove > arbitrary policies being imposable by a quorum of > 50% miners. The blind > commitment proposal fixes that, so even an 99% quorum cant easily impose > policies, which leaves the weaker protocol vote attack as the remaining > avenue of attack. That is a significant qualitative improvement. > > The feasibility of protocol voting attacks is an open question, but you > might want to consider the seeming unstoppability of p2p protocols for a > hint. > > Adam > > ------------------------------------------------------------------------------ > AlienVault Unified Security Management (USM) platform delivers complete > security visibility with the essential security capabilities. Easily and > efficiently configure, manage, and operate all of your security controls > from a single console and one unified framework. Download a free trial. > http://p.sf.net/sfu/alienvault_d2d > _______________________________________________ > Bitcoin-development mailing list > Bitcoin-development at lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/bitcoin-development >