Thus, 1 is neat, 2 is secure, 3 is verily secure, everything above 3 even more secure to the point of paranoia at 6 and "you should probably buy something on Silk Road" at above 6
You need to run your Geist Gold proxied through Tor to understand why you are wrong. Satoshi was probably over-conservative. You are certainly over-optimistic.
Lolcust, I think you are overly optimistic about this. 6 geist confirmations is definitely not enough to be secure. A common misconception about bitcoin is that the number of confirmations determines how safe your transaction is from a double spend attack. In reality it's how much time since your transaction that determines how safe it is. This is because the amount of time determines how likely an attack will succeed.
For example, if an attacker has 33% of the network hashrate, he has to be twice as lucky than the other miners in order to create more blocks than everyone else. It's much more likely to be twice as lucky for a period of 90 seconds (6 geist confirmations) than it is for a full 1 hour (6 bitcoin confirmations).
Um, I am no actuarian coblee, but it seems to me that the original bitcoin paper does not state that probability of attacker success is a function of time.
Instead, it says that "Given our assumption that p > q, the probability drops exponentially as the
number of blocks the attacker has to catch up with increases"
Again, I might be missing an elephant in the room of theses arcane mathematications, but it appears that probability of attacker's success is claimed to drop off with the number of blocks, not the time spent making them, which would mean that "6 valid blocks" are still "6 valid blocks".
Thus, 1 is neat, 2 is secure, 3 is verily secure, everything above 3 even more secure to the point of paranoia at 6 and "you should probably buy something on Silk Road" at above 6
You need to run your Geist Gold proxied through Tor to understand why you are wrong. Satoshi was probably over-conservative. You are certainly over-optimistic.
Lolcust, I think you are overly optimistic about this. 6 geist confirmations is definitely not enough to be secure. A common misconception about bitcoin is that the number of confirmations determines how safe your transaction is from a double spend attack. In reality it's how much time since your transaction that determines how safe it is. This is because the amount of time determines how likely an attack will succeed.
For example, if an attacker has 33% of the network hashrate, he has to be twice as lucky than the other miners in order to create more blocks than everyone else. It's much more likely to be twice as lucky for a period of 90 seconds (6 geist confirmations) than it is for a full 1 hour (6 bitcoin confirmations).
Um, I am no actuarian coblee, but it seems to me that the original bitcoin paper does not state that probability of attacker success is a function of time.
Instead, it says that "Given our assumption that p > q, the probability drops exponentially as the
number of blocks the attacker has to catch up with increases"
Again, I might be missing an elephant in the room of these arcane
mathematications, but it appears that probability of attacker's success is claimed to drop off with the
number of blocks, not the time spent making them, which would mean that "6 valid blocks in a net running at block per 15 secs" are as hard to overpower as "6 valid blocks in a net running at 1 block per 10 minutes" (assuming hashrate distributions for attacker and good guys match in both of them, of course).
I guess that could be easily tested by having one of the multi-gigahash dudes trying to mine through TOR and mining for 10 mins, then through I2P's cancerous outproxy and mine for 10 mins, then directly and again 10 mins. We could compare the number of blocks accepted by the net and see if TOR or I2P result in notable loss.
I'm sorry I wasn't clear first time around. I edited my post too late.
The real test of your future coin laundry will involve setting up a Tor's hidden service. The connections "Tor<->clearnet" only test less than half of the Tor's privacy stack. To get a real statistics you'll have to setup your ghetto box behind a hidden service to connect "Tor<->Tor". Only then it will you test the full Tor stack: "hidden service directory resolution" + "connection from you to rendezvous-point" + "rendezvous-point delay" + "from rendezvoud-point to the hidden server".
If you regularly use Tor then please look up Hidden Wiki for the hidden bootstrap nodes for the original Bitcoin and try to resync the normal "bitcoind" through them after a weekend offline. Then you could try the same feat with your variant.
People frequently complain about 10 minute block interval of the original Bitcoin as way too slow. It is slow, but it reliably bootstraps through Tor. With your 15 second block intervals the bootstrap will be realy a feat of networking.
Hm, so basically, it will always lag behind the chain because full hidden server is so damn slow. Quite plausible a problem (I guess Bitcoin would always lag behind on, I dunno, GPRS then).
But as long as Geist can stand its ground on "vanilla nets", that strikes me as a fairly remote problem that might be solved by clever lean client design (whether it really can is another matter)
TOR is not nice but hey, you see my response right ? So mission accomplished *bush pic*
Well, Theymos and bitcointalk.org crew aren't really hiding. Your coin laundry will have to run hidden.
Hm, well, one might hypothetically try to have the laundry proper run "lean" and only have the "consumer-facing front" and associated proxy wallets to run G propper.... Hm. Not a bad idea it seems, I'll run it by a certain someone later...
Lolcust, I think you are overly optimistic about this. 6 geist confirmations is definitely not enough to be secure.
I'm inclined to agree. The bitparking I0Coin exchange stopped accepting blocks last night when it detected a chain reorg going back 10 blocks, past the 10 confirmations required for a deposit. So even with 90 second blocks, 10 wasn't enough. That chain only has half the hash rate of GG though.
Again, I might be failing to note an elephant here, but it seems quite explicitly stated in the Satoshi paper that attack success probability drops off with number of blocks, not time spent making them.
As for poor little i0, for the love of everything good, there are currently merely 29.811 Ghashes on i0coin.If all people mining Geist right now conspired to overrun i0coin, it is not entirely unlikely that we could do it (not intended to actually incite anyone towards harming the poor little coin)