Now that we know that BitFury is almost certainly malicious and BTCC might be so, it's clear why the...

Now that we know that BitFury is almost certainly malicious and BTCC might be so, it's clear why the other side has been calling for "90% consensus" instead of 75%.

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imaginary_username is in Mali

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https://blockchain.info/pools

For the past four days, BitFury BTCC has been 29%. An activation condition of 75% ensures that we'll never fork with a minority... but can still overcome, just by random chance over a long enough time, obstruction in the form of 26%~30%. However...

If we took the trolls seriously and actually activates at 90%, a single malicious actor (BitFury) can block the fork for a long time, and almost indefinitely with a helper. Keep in mind that BitFury is not a pool, it's a completely centralized mining outfit that has zero worry about losing miners. A single guy who's doing insider trading at this company can wreck any hopes for Bitcoin to move forward.

Of course, ideally, we should have a less centralized mining scene and this won't be an issue, but this is what we got here.

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Profile updated: 6 days ago

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imaginary_username

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Mali

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Posted: 8 years ago
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