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Barricade
replied 2231d
White men are people too
The markets have to decide. We can end up with 2 splitted chains with 2 different values, ABC will be the most valuable according to futures, so CSW will try to devalue it with attacks
3 / 22
replied 2231d
How can CSW do that?
Barricade
replied 2231d
A 51% attack on ABC chain is difficult, but orphaning blocks and replaying txs is more easy.
replied 2230d
Even if SV's hashpower was equal, SV would be inclined to mine their own transactions and keep new block time as close as possible to 10 min instead of using their wasting it on ABC
replied 2230d
Orphaning would only happen if SV's hashpower >= ABC thereby allowing SV to mine empty/erroneous blocks quicker than ABC hence forming the longest proof of work chain. Seems unlikely
Barricade
replied 2230d
For a feather attack they don't need suck hashpower. It was explained by a memo user a few days ago.
2
replied 2229d
Missed that. If only memo had search...
anarchovegan
replied 2228d
https://memo.cash/posts/ranked
"Search Memo"
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1,000
replied 2230d
Gosh I need to bring Memo up to speed. SV has 60-70% of the hashrate. https://blockchair.com/bitcoin-cash/blocks
1
replied 2229d
Despite that, the futures market on Poloniex maintains a 80-20 distribution in ABC's favour
replied 2229d
Think that is because the ABC proponents have not pushed their hashpower over to BCH.
replied 2229d
Also, this: https://cointelegraph.com/news/mining-giant-bitmain-hurries-to-deploy-90-000-s9-antminers-ahead-of-bitcoin-cash-hard-fork
White men are people too
replied 2231d
Suppose he succeeds, as in markets start to side with him. What then?
Barricade
replied 2231d
In that case, even a fork with a different PoW algorithm to avoid future CSW attacks is possible.
Barricade
replied 2231d
So SV will win and CSW will have enough power to materialize his threats. Until the next scheduled HF, or before. With a big part of the community splitted, BSV will lost support.
White men are people too
replied 2231d
Do you not see any scenario where CSW wins and bitcoin just goes on as bitcoin?
Barricade
replied 2231d
Depends. If CSW materialize some of his threats, that's difficult because it will become just a permissioned coin. But of course, it can win and become Bitcoin de facto in some years.
Barricade
replied 2231d
Txs replay, blacklisting UTXOs with CDS, threatening miners with jail, etc to bring fear to the market. That's if the chain split last for long enough.
Nikamoto
replied 2231d
Do you think BitcoinCash will survive that ? If that happens what do you think will happen next ?
Barricade
replied 2231d
No, but I guess Bitmain and others will point lots of their hashpower just at the fork time (fuck BTC). If BSV wins, the community against it will fork away, even with another PoW algo
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Nikamoto
replied 2231d
It's so weird they just have to move hashpower just for the battle. The battle is not designed to work that way I think
And with another algo it'd be easily attacked coz not asic on it
Barricade
replied 2231d
Pointing hashpower to ABC chain guarantees CSW can't do a 51% attack (anyway, this requires lots of hashpower + mining your own chain). And brings safety to the market.
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Barricade
replied 2231d
PoW algo change makes SHA256 ASICs useless. A bad actor has to hire hashpower, not just pointing out miners to other chain for attack. Komodo dPoW can help here.


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