Author: Peter R 2015-08-30 04:13:43
Published on: 2015-08-30T04:13:43+00:00
In a private email exchange, Greg Maxwell criticized Peter Todd's work on the economics of Bitcoin transaction fees for making at least two non-disclosed or poorly-disclosed simplifying assumptions and a significant system understanding error which undermined it completely. Todd responded by defending his assumptions and corrections he planned to make in future revisions. However, Maxwell claimed that Todd had not made any corrective actions and continued to make public comments seemingly in contradiction with the corrective actions he had enumerated. Todd defended his paper and challenged Maxwell to show under what assumptions/requirements his communication scheme is physically possible, that such a configuration is not equivalent to a single entity controlling >50% of the hash power, and that the network moving into such a configuration is plausible.
Updated on: 2023-06-10T21:30:43.295146+00:00