📅 Original date posted:2021-05-24
📝 Original message:If bitcoin were to ever consider changing their PoW algorithm a
little, it seems that would immediately make purchased ASIC mining
equipment partially or wholly unusable to compromise the chain (and
temporarily reduce energy usage without necessarily reducing
security). One possible plan to deter a multibillionaire attack.
Also regarding the word "security" here, a 51% attack impacts some
parts of chain operations, but not others.
It seems to me bitcoin's biggest vulnerabilities are either covert
compromise of mining pool operations, or widespread compromise of
networked mining systems and client nodes. Far easier than
outcompeting the mining network with hardware.
I don't see why it would necessarily be made public if a government
compromised their nation's mining farms. Governments have skilled
operatives for things like that. People would guess it happened, and
the government would cover up the guesses with more powerful stories.
Karl [ARCHIVE] /
npub10h…9xjf9
2023-06-07 22:54:00
in reply to nevent1q…tuzv
Author Public Key
npub10hvdghlzknsxl8n9fhevm3hc6ppgkmnhjl0x7999hylnmcm3jursv9xjf9Published at
2023-06-07 22:54:00Event JSON
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"content": "📅 Original date posted:2021-05-24\n📝 Original message:If bitcoin were to ever consider changing their PoW algorithm a\nlittle, it seems that would immediately make purchased ASIC mining\nequipment partially or wholly unusable to compromise the chain (and\ntemporarily reduce energy usage without necessarily reducing\nsecurity). One possible plan to deter a multibillionaire attack.\n\nAlso regarding the word \"security\" here, a 51% attack impacts some\nparts of chain operations, but not others.\n\nIt seems to me bitcoin's biggest vulnerabilities are either covert\ncompromise of mining pool operations, or widespread compromise of\nnetworked mining systems and client nodes. Far easier than\noutcompeting the mining network with hardware.\n\nI don't see why it would necessarily be made public if a government\ncompromised their nation's mining farms. Governments have skilled\noperatives for things like that. People would guess it happened, and\nthe government would cover up the guesses with more powerful stories.",
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}