Author: Peter Todd 2015-08-21 22:21:53
Published on: 2015-08-21T22:21:53+00:00
The email thread discusses a security issue regarding the block size in Bitcoin mining. Tom Harding claims that small miners are not at all disadvantaged by large blocks, and he conducted an experiment to prove it. However, Peter Todd argues that the scenario Tom used is not the one they're worried about, and the math behind the issue states that a miner needs to get their blocks to at least 33% of hashing power, which was not simulated in Tom's experiment. Additionally, Peter questions why Tom assumed that small miners are well connected to each other. Peter concludes that Tom's experiment is wrong and misguided. Peter uses a car analogy to explain the situation. He says that Pieter Wuille has shown a brake cylinder fatigue problem in stop-and-go traffic, which can potentially kill someone. In contrast, Tom's study of highway driving shows no issues with the brakes. Peter concludes that Tom's experiment does not address the actual security issue in Bitcoin mining.
Updated on: 2023-06-10T20:05:31.216970+00:00