-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 "The Wall Street of Bitcoin"
On 07/03/2015 08:30 PM, Peter Todd wrote: > On Sat, Jul 04, 2015 at 03:17:17AM +0000, Gregory Maxwell wrote: >> On Sat, Jul 4, 2015 at 3:11 AM, Raystonn <rayst...@hotmail.com> >> wrote: >>> We need some analysis on why this has happened. It appears the >>> larger hashrate is violating BIP66. Thus it appears the >>> network is rejecting this BIP, though potentially accidentally. >>> If this is an accident, how is such a large portion of hashrate >>> forking, and what can we do to avoid this in the future? >> >> A near majority of the hashrate on the network appears to be SPV >> mining. > > As for what "SPV mining" is: > > While blocks are propagating throughout the network, frequently > it's possible for miners to get the header of the block before they > get and fully validate the block itself. This is just a few seconds > to tens of seconds, but that's a big deal for profitability. So > miners have been running custom patches that mine on top of the > longest chain they know about, even if they haven't actually > verified the blocks in it due to propagation delays. > > Unfortunately the Bitcoin protocol lets you do that, and the extra > % of revenue makes a big difference when you take into account the > low profit margins of mining these days. BIP66 happened to trigger > this issue this time, but actually *any* miner creating an invalid > block for *any* reason would have done so with the software miners > are running right now. > > > > _______________________________________________ bitcoin-dev mailing > list bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > - -- http://abis.io ~ "a protocol concept to enable decentralization and expansion of a giving economy, and a new social good" https://keybase.io/odinn -----BEGIN PGP SIGNATURE----- Version: GnuPG v1 iQEcBAEBAgAGBQJVl1PeAAoJEGxwq/inSG8C2LAIAK9FbCODbTu2t2yktusv37Sd zf5/ApqciZ01X4oiQHHKXIgzhYgNenv2dnRsBsrGtn53L1AopXOiSIcz8ECCYsjp lwiKitebU7VukDlCu07ZQpff62Hm34lsqo2oXZHSC/lKYXD5llixgCmNrs2CTYrF bWxCr2pngr+azDFX9hUSr6c48MO8Id8hdiWIcYwofNOcUACloqgJ/SaZZqT5OSXj gk3Iq0ltTQdc71z7g8G1cqHfL/Nu47X0XnwVt8UAOn0b8bo3Hbz3QegPXoj1tik2 j8lJUqm3lwKdIky2i50OWxL/agaXou3jJy19jhziW5sRh3tkZfC4BbI+wazfRyk= =dW9O -----END PGP SIGNATURE----- _______________________________________________ bitcoin-dev mailing list bitcoin-dev@lists.linuxfoundation.org https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev