I live in the United States and the government here routinely spends money to wage wars around the world. Cost is not a consideration if the ends are achieved.
If the intent is purely to cause chaos and doubt they could achieve this.
I dont think it would happen, but curious what people think they would do.
For me I would certainly want more block confirmations until the cause/culprit(s) identified. I would also consider it an attack if it was shadow mined and wouldnt be opposed to marking their block as invalid.
I agree it goes against standard game theory.
Bitcoin is still not using enough global energy to prevent this from happening. The likelihood of this happening is very tiny, but in general contingent on production of mining units and having a decent idea on where those units have shipped and active
Assume an unknown pool has previously participated in known pools but gradually retracted their hash and focused on this shadow chain specifically to cause disruption. This would of course require collusion with a state actor that can fund this type of waste for a >50% of global hash to catch and exceed the active chain.
Theoretical that could happen...
You run a bitcoin node and have Bitcoin. Your last transaction was over 2016 blocks ago. You have friends that regularly transact more often, some in the past day (144 blocks for simplicity).
Unbeknownst to all, a separate chain has been being mined in secret based on 1000 blocks ago (about a week). It becomes the active chain having the most work performed. Your funds predate this and are entirely safe. Some of your friends find that coins they had received on the previously valid chain have been returned to the sender thus lowering their balance.
As unlikely as this seems, it is possible and you should think through how youd react as well as how to push out the inevitable noise
Do you now wait for 1000 confirmations before considering safely received?
As a node runner do you reject the new tip? Do you keep tabs on bitcoin-cli getchaintips
As a miner, do you pull out of mining pools or create new ones? Do you wonder if some of the hash of the pool was being redirected at the other chain? Do you use stratumv2?
If 1000 blocks is too many what if it was 5?
I wish it was only 3k per citizen, or even better, 0. But its distorted based on earning by region, marital and family status. Single subsidizes married, and people without dependents subsidize those with dependents. Back during the Iraq war 20 years ago I put the estimate of my theoretical cost at $6 per Billion the US spent.
https://decrypt.co/117221/senator-warren-crypto-bill-kyc-self-custody-wallets
This new bill has some strange language. Essentially will require validators, so nodes/miners, to KYC. My question is, if this goes into place, is it even possible to enforce. Could the state mandate that miners KYC? I know they could not get control of the network, but if they forced a software update, such as a BIP, that included KYC and miners complied, would other nodes (such as mine running on umbrel) have to upgrade software to include KYC info or risk forking? I admit a general lack of understanding on this, so would like to hear from those who do understand.
They cant force a software update. Its protected as free speech
Making fresh mashed potatoes.
If you are running a bitcoin node can you report the feerate from results of
bitcoin-cli estimatesmartfee 1
Im still learning Python, and its not very marketable in the Bitcoin space, but Id consider doing streams walking through parts of the Nodeyez codebase and patterns used for retrieving data from APIs, transforming, creating charts of information if there was enough interest in it
I think students get prime at half price?
What gender is Bitcoin and a UTXO?
Are multisig wallets a form of same sex marriages?
More permanent I guess..just want it for discounts on Amazon prime and other stuff as it comes up
Whats a good way to get an edu email address cheap?
How many views from Bluechecks?
I prefer the smell of sweat over the assault of perfume after a run
Zap whoever you want to zap.
Whether that be a handful of nostr client devs and relay runners, people livestreaming coding sessions to raise zaps for opensats, egirls and egirl deniers, the latest yellow video, meme makers and reposters, tiktokers, people that could use the help for food and medicines, other devs not focused on nostr, and even bots on occassion if they provide value (someone went through the effort to configure or code it)