Post
Topic
Board Bitcoin Discussion
Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
BitUsher
on 31/12/2015, 17:32:48 UTC
What you are saying here is completely factually inaccurate, the number of transactions does not increase hashing time. Furthermore you are assuming that miners are irrational and malicious which is flawed. If the miners collectively wanted to destroy the Bitcoin network they already could do that now. It is the underlying game theory and economics of Bitcoin that prevents this from happening in the first place.

Its the number of inputs that can lead to long verification times. I cited an example.

Furthermore you are assuming that miners are irrational and malicious which is flawed. If the miners collectively wanted to destroy the Bitcoin network they already could do that now. It is the underlying game theory and economics of Bitcoin that prevents this from happening in the first place.

I am not assuming miners are irrational or malicious either. First, we should prepare and secure ourselves for this possibility, but lets assume that a majority of the hashing power has and will continue to have the best of intentions for a moment. We can assume shortcuts for profit, mistakes, and ignorance from miners despite their intentions. Case in point -- SPV mining.


P.S... I really appreciate your efforts with Bitcoin Unlimited and hope that more developers test and review the code. Having multiple implementations is extremely valuable to our ecosystem.