Bitcoin: A Miner Problem

Georgi Guninski guninski at guninski.com
Fri Mar 4 00:49:23 PST 2016


On Thu, Mar 03, 2016 at 11:45:47AM -0500, grarpamp wrote:
> http://qntra.net/2016/03/a-miner-problem/
> 
> That the notion of "a majority of Bitcoin nodes" is void of content,
> That a cartel of Bitcoin miners is deliberately and systematically
> withholding blocks for an interval of about 20 minutes to a half hour,
> so as to ensure themselves a (significant) advantage over any would-be
> competitors.
> That neither above item makes sense or could long survive without the other

IIRC sufficiently many dishonest nodes (51%?) might screw bitcoin much
worse, it had something to do with consesus/transactions.

Is the above true?

Isn't this "cartel" the "free market" in juan's anarchist utopia?



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