Usually, miners are good citizens and include many of the pending transactions. However, a block could be mined where all this consensus is ignored and the new block is full of transactions which the miner has "pulled out of his ass" (real-world business or not) with fees payable to himself. Apart from providing PoW security to older blocks, the new block is unhelpful, and many of them together is an attack.
So the "unauthorized" transactions are simply those that are already missing from the majority of the network's node mempools. The reason they are missing is that they have been discarded by most nodes, or never seen by them because the miner kept them quiet until finding a block.
There is no whitelisting or blacklisting unless 51% of the nodes are using the same whitelist or blacklist. If they are then there then that is a majority decision, and the risk of this is the same as today.
Also, standard new blocks with full tx would certainly remain supported even if IBLT was fully functional and in widespread use.
So the "unauthorized" transactions are simply those that are already missing from the majority of the network's node mempools. The reason they are missing is that they have been discarded by most nodes, or never seen by them because the miner kept them quiet until finding a block.
There is no whitelisting or blacklisting unless 51% of the nodes are using the same whitelist or blacklist. If they are then there then that is a majority decision, and the risk of this is the same as today.
Also, standard new blocks with full tx would certainly remain supported even if IBLT was fully functional and in widespread use.
you just described AM's "targeted withholding attack". also it's solution.
I hadn't read that.
That isn't a solution because it is the wrong characterization of the coming reality of NWO fascism.
I don't know if you've noticed the trend towards consolidation in the online retailing sector. For example here in the Philippines Ayosdito.com and olx.ph merged and now I can't buy imported vitamin D3 any more because the new cartel eliminated vitamin ads!
Consolidation will accelerate as the global economic implosion hits us 2016 (mostly in Europe) and accelerating in 2017 or 2018 in the USA.
The masses love their WalMart, Target, Amazon, and other big names. The Big 5s will be folded into the Amazons.
When we reach the point that 80% of online shopping is done through Amazon Payments, Paypal, Coinbase, Bitpay, Circle and a few others, then the case of the "transactions which the miner has 'pulled out of his ass'" (i.e. the txs that are for those big names) will be most of the transactions.
As I said, the masses are working against your theory of political containment. Sorry you can't win with politics. You need a truly technically decentralized solution.
As I said from my first comment in this thread that got you all so offended, you need to make the fundamental tenet of Satoshi's whitepaper the actual reality. Bitcoin isn't. Sorry.
when i use Mycelium to scan your Amazon "attacker" payment address, it sends my BTC thru the Mycelium server who then forwards it out to the network "indiscriminately". thus, the payment tx cannot be hidden or held up Amazon's ass to be released en masse with billions of other Amazon tx's for the purpose of attacking and screwing other miners.
If 80% of txs are being coursed through the cartel because the complacent masses use the GUIs the cartel websites present them, then Mycelium won't be hearing about them.
And if the miners that didn't hear about them, don't approve those blocks, then they won't be participating in 80% of the economy and thus economically it is obvious who will win that battle of attrition.
Size matters in Bitcoin. I want to change that.
the GUI's != owner's wallets. owner's wallet are connected to the p2p network, not
Masses will use the Circle, Paypal, Coinbase, Amazon, Facebook, etc wallet.
This is why the banksters are funding all the large scale wallet startups.
Sorry you can't win this argument. I thought about it in depth.
sorry, none of the geeks should fall for it and alot of ppl have learned from mtgox and the other exchanges. and all the current unbanked billions won't be eligible for those company accts and will work off their smartphones. so no, an absurd cartel the likes of what you've described above will not be forming and even if it did, i just described how their share will be limited. no one likes cartels anyways.
Well now you are really scraping the bottom of the barrel and being either disingenuous or absurdly obtuse.
Denial of reality won't help you.
https://www.cryptocoinsnews.com/bitcoin-exchange-coinbase-just-passed-2-million-users/
Quote
The newly U.S. licensed Bitcoin Exchange Coinbase has just passed 2 million users. This is a large mark for Coinbase and we at CCN sends our congratulations.
I'm one of those 2M. And I pull my coin out immediately.
