On Tue, Oct 18, 2022 at 10:30:26AM -0400, Russell O'Connor via bitcoin-dev wrote: > It is most certainly the case that one can construct situations where not > mining on the tip is going to be the prefered strategy. But even if that > happens on occasion, it's not like the protocol immediately collapses, > because mining off the tip is indistinguishable from being a high latency > miner who simply didn't receive the most work block in time. So it is more
I don't believe that's a good argument. A sufficiently large high latency miner who doesn't receive the most work block in time would cause huge disruptions to the network, potentially causing other miners to be unprofitable. I even gave a talk on this a few years back, on how if Bitcoin mining in space becomes profitable, it'll cause enormous problems due to the slow speed of light. > of a question of how rare does it need to be, and what can we do to reduce > the chances of such situations arising (e.g. updating our mining policy to > leave some transactions out based on current (and anticipated) mempool > conditions, or (for a sufficiently capitalized miner) leave an explicit, > ANYONECANSPEND transaction output as a tip for the next miner to build upon > mined blocks.) ...at which point the large miners are likely to be significantly more profitable than small miners, because they can collect more fees. That's a disaster. -- https://petertodd.org 'peter'[:-1]@petertodd.org
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