There is a lot of very good information. I remember that years ago it was 6 confirmations and then slowly people started to accept 3 confirmations and then some businesses, mostly casinos risked accepting transactions with 1 confirmation. I personally think that 3 confirmations is enough and 6 only delays the access to funds.
At the time I am writing this post, Foundry USA is the biggest mining pool with 26% of the total hash power. Assume that Foundry USA turn evil and decide to remove a transaction from the blockchain.
How exactly can they remove transactions from the blockchain? I thought it wasn't possible.
It should be added that new coins generated by mining require a full 100 confirmations before they can be spent.
100 confirmations exclusively for miners? This is something new for me. I don't understand why there is such a difference between mined and transacted coins.
There are even invalid blocks recorded where the miner's software fucked up and assembled and mined a block with too many SigOps rendering the block invalid and discarded by other nodes. Very rare and shouldn't happen, but software and bugs...
Does that mean they wasted all the resources that they dedicated to mine that block?