Miners cheating the system to earn more?

philipma1957

legendary

Activity: 4116

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'The right to privacy matters'

Quote from: Metroid on August 10, 2022, 09:45:24 PM

Quote from: FP91G on August 10, 2022, 07:27:51 AM

However, the researchers also noted that the vulnerability may be solved after Ethereum transitions to proof-of-stake (POS) after the upcoming Merge on Sept. 19, which utilizes a different set of consensus rules.
"An obvious mitigation technique which will solve both this attack and any other PoW-related one, is to migrate Ethereum’s consensus mechanism to proof-of-stake (PoS)." Grin

https://cointelegraph.com/news/f2pool-co-founder-responds-to-allegations-it-s-cheating-the-ethereum-pow-system

Everything related to mining will be solved as soon as they move to pos. I wonder how long he has been earning more than any other pool, probably for years, reason that pool always found more blocks than any other one with the same hashrate. This is good, it proves eth devs left ways to cheat the mining system if you wanted to.

i estimate there rewrite back in 2016 cost me 2 coins
and this exploit allowed by eth cost me 4.5 coins

so any time mr vb wants he can the 6.5 eth to me roughly 13000 usd. as of today.

he can send me the coin via pm

if and when he does I will let you all know. if he does not and there ever is a class action this is my notice I would expect 6.5 eth in damages.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: FP91G on August 10, 2022, 07:27:51 AM

However, the researchers also noted that the vulnerability may be solved after Ethereum transitions to proof-of-stake (POS) after the upcoming Merge on Sept. 19, which utilizes a different set of consensus rules.
"An obvious mitigation technique which will solve both this attack and any other PoW-related one, is to migrate Ethereum’s consensus mechanism to proof-of-stake (PoS)." Grin

https://cointelegraph.com/news/f2pool-co-founder-responds-to-allegations-it-s-cheating-the-ethereum-pow-system

Everything related to mining will be solved as soon as they move to pos. I wonder how long he has been earning more than any other pool, probably for years, reason that pool always found more blocks than any other one with the same hashrate. This is good, it proves eth devs left ways to cheat the mining system if you wanted to.

JayDDee

full member

Activity: 1386

Merit: 220

Quote from: philipma1957 on August 10, 2022, 04:26:33 PM

and if those pools in turn sue eth for not [dis]closing the loophole.

A slight edit. Wink

It remains to be seen if this was a feature or a bug but I don't see any possible litigation potential, just bad media attention.

From my understanding, if everyone exploited this the result would the highest diff solution within the timing window wins the block's
transactions, other solutions become uncle blocks. The timing windows seems to start when the first block solution is submitted and
it lasts for about 13 seconds. Any more difficult solutions during this window can be backdated and replace the previous solution.

I briefly briefly scanned the paper and it seems they have a miner implementation for Gominer. It seems you don't need the pool.
Now the race by all the miners to release it first.

philipma1957

legendary

Activity: 4116

Merit: 7849

'The right to privacy matters'

Quote from: 2stout on August 08, 2022, 02:03:17 AM

What are your thoughts on this? Do you think this could have any impact (direct or indirect) on Bitcoin? https://cryptoslate.com/researchers-say-they-discovered-consensus-level-attack-on-ethereum-miners-cheating-the-system-to-earn-more/

Changed titled . One honest pool F2pool did its best to legally earn as much as possible.

All other pools failed to do it.

Thus if you are like me a miner and used viabtc you may be able to sue viabtc for its failure to legally do what f2 pool did.

I earned over 45 eth from viabtc sounds like they owe me some eth. they failed to code for maximum profits.

nice shit storm here. should be fun to see if class action is taken against lots of pools.

and if those pools in turn sue eth for not closing the loophole.

got to love it.

maybe this will cause eth to halt pos not speed it.

better yet maybe eth will need to reverse pos.

remember eth rewrote the code to capture coins lost back in 2016.

FP91G

legendary

Activity: 1610

Merit: 1026

However, the researchers also noted that the vulnerability may be solved after Ethereum transitions to proof-of-stake (POS) after the upcoming Merge on Sept. 19, which utilizes a different set of consensus rules.
"An obvious mitigation technique which will solve both this attack and any other PoW-related one, is to migrate Ethereum’s consensus mechanism to proof-of-stake (PoS)." Grin

https://cointelegraph.com/news/f2pool-co-founder-responds-to-allegations-it-s-cheating-the-ethereum-pow-system

JayDDee

full member

Activity: 1386

Merit: 220

Quote from: 2stout on August 09, 2022, 01:31:05 PM

So basically he admits it. Although the action isn't illegal so to speak, ethics is a whole another matter. Wondering if this can or has happened on the Bitcoin chain as well, hoping not.

I don't see it as an ethical issue, the code allows it. I see Eth incompetance as the real villain. They allowed this exploit to exist and never took
any action to close it. Every pool should be exploiting it then everyone is equal again.

2stout

hero member

Activity: 2338

Merit: 585

Quote from: BitKongy on August 09, 2022, 04:19:51 AM

The co-founder of the accused mining pool (f2pool ) have responded to this allegation on Twitter platform and its also on coin telegraph too, check the link below

https://cointelegraph.com/news/f2pool-co-founder-responds-to-allegations-it-s-cheating-the-ethereum-pow-system

So basically he admits it. Although the action isn't illegal so to speak, ethics is a whole another matter. Wondering if this can or has happened on the Bitcoin chain as well, hoping not.

BitKongy

member

Activity: 405

Merit: 19

The co-founder of the accused mining pool (f2pool ) have responded to this allegation on Twitter platform and its also on coin telegraph too, check the link below

https://cointelegraph.com/news/f2pool-co-founder-responds-to-allegations-it-s-cheating-the-ethereum-pow-system

swogerino

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Leading Crypto Sports Betting & Casino Platform

Quote from: 2stout on August 08, 2022, 02:03:17 AM

What are your thoughts on this? Do you think this could have any impact (direct or indirect) on Bitcoin? https://cryptoslate.com/researchers-say-they-discovered-consensus-level-attack-on-ethereum-miners-cheating-the-system-to-earn-more/

They are pointing to single pool F2pool which I assume the evidence collected is geared at that specific pool.Bitcoin I doubt it has been directly impacted nor indirectly as it does not rely on Ethereum mining where the flaw supposedly has been found according to Hebrew University in that link.I hope this is a contained case and it is not related to other pools otherwise my trust in them would go down dramatically and I would be once again in the middle of a crossroad thinking of what to do next.I am waiting to see more data on this as promised by Hebrew University there that they will publish them as soon as they have them.

2stout

hero member

Activity: 2338

Merit: 585

What are your thoughts on this? Do you think this could have any impact (direct or indirect) on Bitcoin? https://cryptoslate.com/researchers-say-they-discovered-consensus-level-attack-on-ethereum-miners-cheating-the-system-to-earn-more/

Topic: Miners cheating the system to earn more? (Read 232 times)