Post
Topic
Board Development & Technical Discussion
Re: Very very simple yet powerful 51% solution
by
gmaxwell
on 17/07/2014, 22:43:49 UTC
You are 100% incorrect you need to go up and read my post again.
I read it multiple times as I did not find it clear at all.  Communications is hard. You could help me out by picking apart why some of the things I cited do not apply and that might help my understanding.

Quote
Anyone can mine even with no ID in my system - that includes sole mining. You have quite simply misunderstood like all of it.
If anyone can mine with no ID and no disadvantage what prevents every miner (including the attacker) from using a unique ID in every single block, and thus being indistinguishable?  

Alternatively, if you pin blocks based on the decisions of some of these "optional" IDs to the detriment of IDless miners, what prevents the ID-ed miners from pinning a particular otherwise-non-consensus blockchain (e.g. to enforce some economic policy in excess of the system's rules).

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I'm pretty sure coinbase coins are the same as other coins and I propose no change to that.. plz read before posting/voting.
Coinbase outputs cannot be spent until they mature 100 blocks later. This addresses some incentive concerns related to miner honest and prevents a fungibility difference from the fact that recently generated coins are at greater risk of irreversible loss since they cannot be restored if they fall out of the chain in a reorg.

This is a fairly basic part of the Bitcoin system.