We really shouldn't have to go over "Bitcoin 101" on this mailing list, and this discussion should move to the not-yet-created more general discussion list. I started this thread as a sanity check on myself, because I keep seeing smart people saying that two chains could persist for more than a few days after a hard fork, and I still don't see how that would possibly work.
So: "fraud" would be 51% miners sending you bitcoin in exchange for something of value, you wait for confirmations and send them that something of value, and then the 51% reverses the transaction. Running a full node doesn't help. On Tue, Sep 29, 2015 at 1:55 PM, Allen Piscitello < allen.piscite...@gmail.com> wrote: > >A dishonest miner majority can commit fraud against you, they can mine > only empty blocks, they can do various other things that render your money > worthless. > > Mining empty blocks is not fraud. > > If you want to use terms like "honest miners" and "fraud", please define > them so we can at least be on the same page. > > I am defining an honest miner as one that follows the rules of the > protocol. Obviously your definition is different. > > On Tue, Sep 29, 2015 at 12:51 PM, Mike Hearn <he...@vinumeris.com> wrote: > >> >because Bitcoin's basic security assumption is that a supermajority of >>> miners are 'honest.' >>> >>> Only if you rely on SPV. >>> >> >> No, you rely on miners honesty even if you run a full node. This is in >> the white paper. A dishonest miner majority can commit fraud against you, >> they can mine only empty blocks, they can do various other things that >> render your money worthless. >> > > -- -- Gavin Andresen
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