Clayton on nostr

Bitcoin mining cannot be centralized (for long) because it operates in the free market - forcing innovation in energy and a constant exploration to find lower energy costs and better compute. In othe...

Clayton @Clayton 1760840746

But if someone with unlimited money (a country like USA or China) wanted to attack the network by paying the miners to mine empty blocks indefinitely, they could effectively stop the network since they are currently so few pools. And their resources are drastically higher than the fees and reward the miners receive from the network. Is that not true?

Comte de Sats Germain · 24w

Hypothetically, would the US government pay miners in China to mine empty blocks?

Hi-Yah Lowes · 24w

But wouldn’t that undermine the incentive of the miners? The reward for the miners is the Coinbase and not so much the fees. If the coinbase gets worthless because the network dies there is no incentive to mine empty blocks in that scale.

Good Life Seek · 24w

isn't it that sooner or later some other small miner (not paid by a country) will be lucky to find a block and do include the transaction that big centralized miners or governments wanted to censor? and so, "worst case" it would take a bit longer, maybe a few days instead of 10 minutes, but still a...