Post
Topic
Board Bitcoin Discussion
Re: On Ordinals: Where do you stand?
by
Tolosi
on 24/05/2023, 07:33:50 UTC
This episode was just a test run for the real thing: how to stop Bitcoin.

Here is howto do it if you have 200K bitcoins and you are willing to burn them all just to stop bitcoin:


Divide available 200K into two amounts - 95% for fees and 5% to send over network
Set fee per transaction 50$
Attach 1 GB file to each tx

Number of transactions = 190K*Present_Price/Fee_per_transaction

190000*26700/50 = approx 100 million of transactions
Value per transaction 10K sats

Blockchain size will grow to  = 1TB + 100.000.000 GB = 100.000 TB!
Try to run BitcoinCore node at home? Impossible.

Blockchain will simply stop.

UTUXo and mempool databases will be also enormous in size.

If you want to run a full node you need a Cray supercomputer at home.

So if somebody has 200K bitcoins and hates bitcoin very much this attack is very feasible.

How to fix it?

i do not know.

In fact I think it is inevitable and that is coming soon - it will be somehow connected with the next elections in US.