Assumptions required for Bitcoin existence - page 2.

juju

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Quote from: Come-from-Beyond on February 26, 2015, 04:37:46 PM

Quote from: cr4sh0verride on February 26, 2015, 04:29:33 PM

I find it hard to believe that someone with a legendary status would not know the answer to this question...

Legendary status means nothing, it's just a dick length indicator on this forum.

I have to agree with franky1, c'mon, not sure who your trying to fool, if you have made about 200+ posts here you probably can answer these questions just by having read them at some-point when it was asked by others or you through personal research find the answers.

You have been involved with this forum for nearly 4 years and have not found the answer to your extraordinarily vague questions. Based on your question and post count, people will assume you have purchased this legendary user account.

Daedelus

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I would guess that it is assumed the mechanism that regulates difficulty can cope in extreme circumstances without getting sticky or stuck in a way that causes loss of confidence

Come-from-Beyond

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Newbie

Quote from: cr4sh0verride on February 26, 2015, 04:29:33 PM

I find it hard to believe that someone with a legendary status would not know the answer to this question...

Legendary status means nothing, it's just a dick length indicator on this forum.

cr4sh0verride

full member

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Merit: 100

I find it hard to believe that someone with a legendary status would not know the answer to this question...

mlferro

sr. member

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Merit: 250

Quote from: Come-from-Beyond on February 26, 2015, 11:59:17 AM

So Bitcoin can function properly without any assumptions? What about a case when rogue nodes have more hashing power than honest ones?

this is definitely a very nasty problem.

Come-from-Beyond

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Newbie

So Bitcoin can function properly without any assumptions? What about a case when rogue nodes have more hashing power than honest ones?

franky1

legendary

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strange for the OP (with legendary status) to have a noob question. thus i think his account got sold or hacked.

but to answer the question
even if just 2 people continue mining the bitcoin blockchain, the blockchain will continue to exist.

you cant replace bitcoins blockchain by mining another coin to overwrite it, the only thing that can happen is people prefer to VALUE another coin at a higher value than bitcoin, thus popularity swings over to another coin.

but as i said at the start even if just 2 people continue to mine bitcoins blockchain, bitcoin will still exist.

Klestin

hero member

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That doesn't require any assumptions. The work isn't just performed on behalf of a particular cryptocurrency, it's performed on top of the entire existing blockchain. You could replace the existing Bitcoin blockchain with one of your own, but it would require the cumulative processing power of the entire history of mining.

Come-from-Beyond

legendary

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Newbie

What is the minimal set of assumptions that must be correct for Bitcoin to function properly?

For example, we assume that it's possible to distinguish work done during mining of bitcoins VS work done during mining of other coins. If we wasn't able to identify blockchain belonging to Bitcoin then any coin with higher cumulative difficulty would "overwrite" work/electricity burned for Bitcoin.

Topic: Assumptions required for Bitcoin existence - page 2. (Read 1866 times)