Topic: Why nodes don't manipulate the bitcoin network? (Read 503 times)
Well, the problem I see here is that 99% of bitcoin users don't even know how bitcoin protocol works and I include myself in this category, despite spending tens of hours studying just algorithms how wallet is created from scratch. I have no idea what is going in node field and I assume I would be very easily manipulated, with out one authority telling me... "hey there is something wrong with bitcoin network...". So this is why I am asking, what if authority(which miners and node installers are) goes against ordinary users? How mechanism defends itself? (in theory ofcourse). Your answer makes sense in a way that it would prolly produce reaction, however, what if miners and nodes would say Satoshi started to use the coins? We would just have to believe them
So to attack the system, you need to attack the ledgers of all the nodes and miners. And here I have a question. Why miners and ledgers (in theory) don't seat at the table and do following:"Hey guys, we are miners and nodes, we have the ledgers, we are the only one who have the real data... let's just manipulate the data and steal bitcoins from people, who have absolutley no idea how bitcoin works... then new people will come and we can sell those stealen bitcoins to them"... There must be a mechanism, which prevents it, right?
Suppose they decide to fork and take the bitcoins mined by Satoshi Nakamoto. They were not moved in years, nobody misses them, right?But if they do, nobody trusts the fork, and another chain with honest participants continues.
They have more to lose than to gain.
Thank you for your reply.
I now understand creating fake nodes and fake miners would result in alternative blockchain, which would have no purpose at the end. In this alt-blockchain I can have million of bitcoins, but if legit miners and nodes don't agree with it, I can not pass it through the system. Thanks.
So to attack the system, you need to attack the ledgers of all the nodes and miners. And here I have a question. Why miners and ledgers (in theory) don't seat at the table and do following:"Hey guys, we are miners and nodes, we have the ledgers, we are the only one who have the real data... let's just manipulate the data and steal bitcoins from people, who have absolutley no idea how bitcoin works... then new people will come and we can sell those stealen bitcoins to them"... There must be a mechanism, which prevents it, right?
I understand BTC is an organic eco-trading-system, but still I am interested... where are decisions about BTC network made? Who makes the decisions how network will develop in future? For instance, proof of work is great solution... but if you look from far away, it is just a convention... some people had to agree on it...
I now understand creating fake nodes and fake miners would result in alternative blockchain, which would have no purpose at the end. In this alt-blockchain I can have million of bitcoins, but if legit miners and nodes don't agree with it, I can not pass it through the system. Thanks.
So to attack the system, you need to attack the ledgers of all the nodes and miners. And here I have a question. Why miners and ledgers (in theory) don't seat at the table and do following:"Hey guys, we are miners and nodes, we have the ledgers, we are the only one who have the real data... let's just manipulate the data and steal bitcoins from people, who have absolutley no idea how bitcoin works... then new people will come and we can sell those stealen bitcoins to them"... There must be a mechanism, which prevents it, right?
I understand BTC is an organic eco-trading-system, but still I am interested... where are decisions about BTC network made? Who makes the decisions how network will develop in future? For instance, proof of work is great solution... but if you look from far away, it is just a convention... some people had to agree on it...
I would like to ask why nodes, which serve blockchain across the network do not try to manipulate with blockchain? Let's say 70% of them agree to insert fake blockchain into a system. What is the mechanism, which would protect 30% of honest one to kick bad guys out?
Could you explain this to me, thank you.
Nodes DO NOT trust each other at all. Every node has their own set of rules that they follow and they will verify every single transaction and block to ensure that the rules that they dictate is followed. If the rules aren't followed, the block or transaction is invalid.Could you explain this to me, thank you.
I don't really get what you mean by fake blockchain. If you are referring to the blockchain having coins that are created out of thin air, it is impossible. The nodes will verify that every single transaction (except the coinbase transaction) has a valid UXTO that it spends from. If it doesn't exist, the block is rejected. If blocks generates more Bitcoins than the current reward (12.5BTC)+ fees, it is also rejected.
If you are talking about creating another alternative blockchain and making nodes follow them, it is also impossible*.
* Nodes follows the chain with the longest proof of work. Unless you can outpace the network with a chain that is longer and has more difficulty weightage, follows the protocol rule, you cannot broadcast 20 blocks using 90% of the nodes and expect the 10% of honest node to accept it.
Hi,
I would like to ask why nodes, which serve blockchain across the network do not try to manipulate with blockchain? Let's say 70% of them agree to insert fake blockchain into a system. What is the mechanism, which would protect 30% of honest one to kick bad guys out?
Could you explain this to me, thank you.
I would like to ask why nodes, which serve blockchain across the network do not try to manipulate with blockchain? Let's say 70% of them agree to insert fake blockchain into a system. What is the mechanism, which would protect 30% of honest one to kick bad guys out?
Could you explain this to me, thank you.
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