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Topic: Wonder who this solominer is? 88.6.216.9 - page 6. (Read 60438 times)

legendary
Activity: 980
Merit: 1008
It's an interesting phenomenon we are seeing here. At the end of the day, designing a system that "just works" without employing it is very hard. So it would be no surprise if we found out that Bitcoin, in its current form, needs adjustments. We have seen with BIP 16 that this is possible, as long as the miners have faith in whomever proposes the solution. Of course the required change in this case might be different, as a core protocol change could be required. It will, in any case, be interesting to see where this leads.

The most important thing is to not rush into finding a solution. This is how bureaucracy is created, and one of the worst things that could happen to Bitcoin. One imperfect solution on top of the next. The "no empty blocks"-rule is an example of this, in my opinion. Generally, when we observe misbehavior like this, we shouldn't really be asking ourselves how to prevent it. We should be asking ourselves: why does it occur in the first place? There are numerous ways we can prevent this from happening, but if we don't solve the fundamental structure of incentivizing cooperation, we have solved nothing.

It seems to me that the simplicity of the situation is that for this particular miner, the reward for including transactions in a block is not worth the effort required to do so. This is not really surprising, given that fees comprise less than 0.15% of total block reward (using the newest post as of this writing: 174195). It seems obvious that this is not due to - as some speculate - the cost of processing power, ie. doing the signature check. This is obviously a tiny effort both in time and power costs. The real cost is maintaining a block chain. This requires first downloading over 1 GB of data and subsequently updating this block chain with every newly incoming transaction (which in itself requires connections to - preferably - multiple nodes). This is quite a task for a decentralized botnet.
There's a simple way to mitigate this though: start paying more fees Smiley.
hero member
Activity: 560
Merit: 500
Ad astra.

yep, and the results are interesting

sorry for off-topic, watching the thread...

Heh. I get more with a 5870 than they do with a 7970. They should really have someone knowledgeable do their benchmarks.
legendary
Activity: 924
Merit: 1004
Firstbits: 1pirata

yep, and the results are interesting

sorry for off-topic, watching the thread...
donator
Activity: 2772
Merit: 1019
full member
Activity: 184
Merit: 100
maybe it's helpful to speculate about MMs motifs.
I guess it would be noticed if he starts selling his coins.
is it a fair assumption, that he didn't sell the biggest part of his coins up till now?
so is he doing it for the money or preparing to kill bitcoin?
he surely can manipulate the BTC value to some degree.
if he's out for money he's of course not bound to offer the coins on MtGox, he could also buy loads of cocaine and sell this.
he then wouldn't want to disrupt bitcoin. it was pointed out, that his ideal hashing power would be somewhere around 20%.

another question: someone suggested to talk to the ISP of his current IP. who could possibly be that in a decentralized network?
anybody? ok, wouldn't help much, probably. MM surely is reading here :-).
legendary
Activity: 1876
Merit: 1000
Has anyone tried tracing the coinbase of the MM blocks to see where those coins are ending up? I know it might be hard to find out exactly where they are going but it would be interesting if this could be a way to track down the bot net owner.

we are not sure if it is a bot.....
hero member
Activity: 560
Merit: 500
Has anyone tried tracing the coinbase of the MM blocks to see where those coins are ending up? I know it might be hard to find out exactly where they are going but it would be interesting if this could be a way to track down the bot net owner.
rjk
sr. member
Activity: 448
Merit: 250
1ngldh
Banks don't need a blockchain.  The purpose of a blockchain is to provide consensus in an anonymous decentralized environment without any central authority.

Banks using a blockchain makes about as much sense as dictatorship holding annual elections with only 1 candidate on the ballot.

Which dictators do all the time.

I would think banks would want irreversible interbank transactions/records. Why wouldn't they?

I could even see them wanting anonymous interbank transfers (they're usually the primary money launderers - why not find a new route now that the US/UN has shut that down so much?)

I don't see why a bank wouldn't want consensus on "what is the agreed upon value of the total money supply" , and where did it come from and go to - the $15,000,000,000 that Lord James discovered to be back by some 750,000 TONS of gold (which can't possibly exist!) just appeared - you don't think the banks would want consensus that you can't introduce ludicrous amounts of "money" into the global supply? I do.

"banks don't want bitcoin" is not a valid argument for anything in my book. They may not like their customers using it, but they sure don't all trust each other. I don't see why it isn't perfect for them to use between themselves. (maybe I should be enlightened?)

I do see some being old, stuck in old ways, and not adopting new technologies, but they'll die off soon enough. Like newspapers.

If they only wanted to use it for inter-bank transfers, they would pre-mine a bunch of coins and then disable the block reward completely. Then use the mining to do confirmations, and assign an arbitrary value to each coin. But this doesn't really seem to be necessary, unless they were trying to combat insider theft on a grand scale.
hero member
Activity: 532
Merit: 500
Banks don't need a blockchain.  The purpose of a blockchain is to provide consensus in an anonymous decentralized environment without any central authority.

Banks using a blockchain makes about as much sense as dictatorship holding annual elections with only 1 candidate on the ballot.

Which dictators do all the time.

I would think banks would want irreversible interbank transactions/records. Why wouldn't they?

I could even see them wanting anonymous interbank transfers (they're usually the primary money launderers - why not find a new route now that the US/UN has shut that down so much?)

I don't see why a bank wouldn't want consensus on "what is the agreed upon value of the total money supply" , and where did it come from and go to - the $15,000,000,000 that Lord James discovered to be back by some 750,000 TONS of gold (which can't possibly exist!) just appeared - you don't think the banks would want consensus that you can't introduce ludicrous amounts of "money" into the global supply? I do.

"banks don't want bitcoin" is not a valid argument for anything in my book. They may not like their customers using it, but they sure don't all trust each other. I don't see why it isn't perfect for them to use between themselves. (maybe I should be enlightened?)

I do see some being old, stuck in old ways, and not adopting new technologies, but they'll die off soon enough. Like newspapers.
legendary
Activity: 1358
Merit: 1002
Banks using a blockchain makes about as much sense as dictatorship holding annual elections with only 1 candidate on the ballot.

But, that's what they do(or did)...

http://en.wikipedia.org/wiki/Estado_Novo_%28Portugal%29
Quote
Executive authority was nominally vested in a president, elected by popular vote for a five-year term. The legislature was a unicameral National Assembly, elected every four years. An advisory body, the Corporative Chamber, nominally represented economic, social and cultural organizations. In practice, however, the system was completely dominated by Salazar. While opposition candidates theoretically could stand for office, in practice the system was so heavily rigged in favour of the official party, the National Union, that they had no realistic chance of winning.

And that went on for almost 50 years. Figure that out...
donator
Activity: 1218
Merit: 1079
Gerald Davis
Banks don't need a blockchain.  The purpose of a blockchain is to provide consensus in an anonymous decentralized environment without any central authority.

Banks using a blockchain makes about as much sense as dictatorship holding annual elections with only 1 candidate on the ballot.
legendary
Activity: 1526
Merit: 1001
I think the true solution is:

RALLY THE PRICE UP,
BRINGING IN MORE MINERS,
OR WE ARE DEAD.



put your money where your mouth is, man Wink

Another flaw here besides what would happen if the price crashes and many people stop mining: Drive the price up and MM has even more money at its disposal to extend his mining operation even faster (buy new fpgas, etc)! Considering falling subsidies for solar power, it could also be a solar park in Spain with an abundance of electricity.

In contrast to others I don't think ignoring it would be the best idea. Having read the Reuters article from today I'm wonderung are we really so naive to think banking cartels are aware of Bitcoin and will continue to consider it too small to be a threat?

It could be an entity who is backed by a financial institution, government, or a billionaire who uses the system against itself. Reinvest revenues directly into more mining power until it passes the 51%. Then what? Game over? (Banking)-Terrorists win.

You can't kill ideas.  

Napster -> Limewire -> Bit torrent.  Torrents today are 1000x more popular than Napster was.  
Killing napster was a horribly short sighted move.  Regulating and controlling it would have had a higher ROI%.

Napster's critical flaw was the central server.  When Napster imploded the obvious target for future designs was .... no central server.

If something does 51% attack Bitcoin then the "next Bitcoin" will be 51% proof/resistant.  Proof of work can be enhanced by proof of stake or even more exotic concepts like proof of reputation.

You don't kill something that isn't revolutionary.  Someone trying to kill Bitcoin simply reinforces the concept that this is something that can change the world.  People tend not to abandon world changing concepts.

I'm not worried about the idea. I'm worried about Bitcoin. It won't help us if we have invested our money in BTC. You and me likely won't trust 'BTC2' if 'BTC' fails, or would we? Such a failure would kill most of the trust in such a currency for a very long time. Long enough for banks to come up with their own system. What is to stop banks from copying this type of transaction verification system anyway? It won't be democratic, but it will probably 'work'. Even worse, they already have the trust of most people since everybody needs to rely on them (who doesn't need a bank nowadays besides cellphone-banking Africans?). Last time I checked the news, they are also trusted by the world's governments in the sphere of trillion dollar bail-out packages. All I'm saying is we might not get a second chance. Bitcoin should better not fail. Even if banks can't kill it, I'm certain they will try hard to somehow corrupt it.
donator
Activity: 1218
Merit: 1079
Gerald Davis
I think the true solution is:

RALLY THE PRICE UP,
BRINGING IN MORE MINERS,
OR WE ARE DEAD.



put your money where your mouth is, man Wink

Another flaw here besides what would happen if the price crashes and many people stop mining: Drive the price up and MM has even more money at its disposal to extend his mining operation even faster (buy new fpgas, etc)! Considering falling subsidies for solar power, it could also be a solar park in Spain with an abundance of electricity.

In contrast to others I don't think ignoring it would be the best idea. Having read the Reuters article from today I'm wonderung are we really so naive to think banking cartels are aware of Bitcoin and will continue to consider it too small to be a threat?

It could be an entity who is backed by a financial institution, government, or a billionaire who uses the system against itself. Reinvest revenues directly into more mining power until it passes the 51%. Then what? Game over? (Banking)-Terrorists win.

You can't kill ideas.  

Napster -> Limewire -> Bit torrent.  Torrents today are 1000x more popular than Napster was.  
Killing napster was a horribly short sighted move.  Regulating and controlling it would have had a higher ROI%.

Napster's critical flaw was the central server.  When Napster imploded the obvious target for future designs was .... no central server.

If something does 51% attack Bitcoin then the "next Bitcoin" will be 51% proof/resistant.  Proof of work can be enhanced by proof of stake or even more exotic concepts like proof of reputation.

You don't kill something that isn't revolutionary.  Someone trying to kill Bitcoin simply reinforces the concept that this is something that can change the world.  People tend not to abandon world changing concepts.
legendary
Activity: 1526
Merit: 1001
I think the true solution is:

RALLY THE PRICE UP,
BRINGING IN MORE MINERS,
OR WE ARE DEAD.



put your money where your mouth is, man Wink

Another flaw here besides what would happen if the price crashes and many people stop mining: Drive the price up and MM has even more money at his disposal to extend his mining operation even faster (buy new fpgas, etc)! Considering falling subsidies for solar power, it could also be a solar park in Spain with an abundance of electricity.

In contrast to others I don't think ignoring it would be the best idea. Having read the Reuters article from today I'm wondering are we really so naive to think banking cartels are aware of Bitcoin and will continue to consider it too small to be a threat?

It could be an entity who is backed by a financial institution, government, or a billionaire who uses the system against itself. Reinvest revenues directly into more mining power until it passes the 51%. Then what? Game over? (Banking)-Terrorists win.

Edit: Fixed some typos.
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
Considering the rate of 1txn blocks, wasn't it statistically inevitable that this would happen? I'd say that only if it happens again and we do the math and find that it is happening at a rate that is extremely unlikely by chance should we consider this to be "enemy action".

Nim
member
Activity: 67
Merit: 10
Considering the rate of 1txn blocks, wasn't it statistically inevitable that this would happen? I'd say that only if it happens again and we do the math and find that it is happening at a rate that is extremely unlikely by chance should we consider this to be "enemy action".
hero member
Activity: 728
Merit: 500
165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g
They still have to access the Bitcoin network to get the previous block so they can work on it.  I'm hoping they're getting it from the same node.  If it's being distributed through their C&C network, we lose.
donator
Activity: 826
Merit: 1041
I personally think it's not worthwhile to hunt them down one at a time...
Is it even possible? The network only hears from a compromised machine when it finds a block, and that machine will probably never find another block. It never hears from the 999,999 compromised machines that are CPU-mining and haven't found a block, yet any of those silent machines might be the one that finds the next block.
hero member
Activity: 728
Merit: 500
165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g
He's probably realying them through one of the bots he controls. Isn't it even possible the bots inject the blocks themselves?

Yes, I agree - the goal isn't to find the C&C (modern botnets are using decentralized C&C anyway), just to get a list of drones.  I personally think it's not worthwhile to hunt them down one at a time, but other people may be inclined.
hero member
Activity: 731
Merit: 503
Libertas a calumnia
[...]

Because of this, there was an almost 2 hour gap where no transactions received any confirmations, due to the 1tx miner orphaning legit blocks with their chain.

EDIT/UPDATE:  My real problem with this is that it appears to be a deliberate orphaning of the chain.  173692 and 173693 were found roughly 20 minutes before 71.123.170.150's blocks showed up on the network.
Thank you very much for the re-explaination of the problem, much appreciated.
Is it possible to have the dump of those excluded blocks so to reply them for client development and verify the correctness of chain reorg?

I'm inclined to think that MM could do this "attack" only because no blocks were found in the whole network for around an hour, but I suppose this is statistically irrelevant, so I don't think this is a problem.

Also, I don't think that the date of the block is relevant too: the longest chain wins anyway, and a different time stamp would had no effect on the reorganisation of the chain, isn't?
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