Possible Problems With Bitcoin Mining Cartel

Discussion in 'Off-Topic' started by Kandiru, Mar 3, 2016.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. Kandiru

    Kandiru Member

    Feb 21, 2016
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    87
    http://qntra.net/2016/03/a-miner-problem/

    Has someone who knows more about Bitcoin know what's going on here? Is this actually proof of there being a secret-chain held by some miners with 51% of the hashrate? Or could it just be down to a 0 fee transaction taking a long time to go through?
     
    Rune S likes this.
  2. LastNinja

    LastNinja Full Member

    Dec 31, 2015
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    Is this related to this?
     
  3. ceejep

    ceejep Sr. Member
    Developer

    Dec 14, 2015
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    This is a Bitcoin related problem. Decred doesn't have this issue except in the case that 51% of the ticket stakeholders are working with 51% of the PoW miners to produce secret chains. A PoW miner without stake tickets can not produce a secret chain because their chain will have no votes.
     
  4. Kandiru

    Kandiru Member

    Feb 21, 2016
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    87
    Even with 51% of the PoW and PoS working together, you would still struggle to make a significant secret chain, since you'd need 3/5 votes for several blocks in a row. You might get 1 or 2 blocks, but the odds of a large extension you can keep in reserve become vanishingly small very quickly!
     
  5. drunkenmugsy

    drunkenmugsy Sr. Member
    Advocate (Reddit)

    Dec 28, 2015
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    Good point. I too was thinking it would take 51% of PoW and 51% of stake tickets but the random nature of stake selection does make this highly unlikely. I am even more confident of decreds future as far as this type of issue is concerned.
     
    koolykg likes this.
  6. LastNinja

    LastNinja Full Member

    Dec 31, 2015
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    What about this? If Bitcoin, Ethereum and Litecoin are "very affected", Decred could profit :D
     
  7. RandaFlores

    RandaFlores New Member

    Apr 23, 2019
    20
    0
    Female
    London
    I want to know more about it. Surely, nowadays there are a lot of problems online and offline with the profit receiving. But this seems to increase it and rather effectively.
     

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