📅 Original date posted:2013-07-14
📝 Original message:On Sun, Jul 14, 2013 at 07:33:06PM +0000, Luke-Jr wrote:
> > The issue is that unless there is a cost to mining a *invalid* block
> > the merge mined coin has little protection from miners who mine invalid
> > blocks, either maliciously or through negligence. If the coin isn't worth
> > much, either because it's market value is low or the worth is negative to
> > the malicious miner, your theories of value have nothing to do with the
> > issue.
>
> Invalid blocks are rejected by validating clients in all circumstances.
I don't think that's what John means.
If you have hash power for the parent chain, mining invalid blocks for the
merge-mined chain costs you nothing. Yes, they will be invalid, but you've
lost nothing.
The basic assumption underlying mining security is that it is more profitable
to collaborate with mining a chain (and profit from the block payout) than to
attack it. In the case of merged mining, this assumption is not valid.
--
Pieter
Pieter Wuille [ARCHIVE] /
npub1tj…jtl6r
2023-06-07 15:04:17
in reply to nevent1q…8ma2
Author Public Key
npub1tjephawh7fdf6358jufuh5eyxwauzrjqa7qn50pglee4tayc2ntqcjtl6rPublished at
2023-06-07 15:04:17Event JSON
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"content": "📅 Original date posted:2013-07-14\n📝 Original message:On Sun, Jul 14, 2013 at 07:33:06PM +0000, Luke-Jr wrote:\n\u003e \u003e The issue is that unless there is a cost to mining a *invalid* block\n\u003e \u003e the merge mined coin has little protection from miners who mine invalid\n\u003e \u003e blocks, either maliciously or through negligence. If the coin isn't worth\n\u003e \u003e much, either because it's market value is low or the worth is negative to\n\u003e \u003e the malicious miner, your theories of value have nothing to do with the\n\u003e \u003e issue.\n\u003e \n\u003e Invalid blocks are rejected by validating clients in all circumstances.\n\nI don't think that's what John means.\n\nIf you have hash power for the parent chain, mining invalid blocks for the\nmerge-mined chain costs you nothing. Yes, they will be invalid, but you've\nlost nothing.\n\nThe basic assumption underlying mining security is that it is more profitable\nto collaborate with mining a chain (and profit from the block payout) than to\nattack it. In the case of merged mining, this assumption is not valid.\n\n-- \nPieter",
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