Bad Actors v Miners IFP Opens An Attack — @FUBAR-BDHR on read.cash

@FUBAR-BDHR 29 February 2020 more from that month

Bad Actors v Miners IFP Opens An Attack

We all know that BCH is under constant attack. There are at least 3 types of people mining BCH. Honest miners - Mining for profit and to support the chain Profit seekers - Don't care what they mine and switch to make a profit Bad actors - Only mine to support other chains (BSV) and to look for attack openings Now so far the first group along with part of the second group has been able to thwart any attack from the bad actors. This would continue to be true except for one thing: The Halving. Since BCH halving should occur weeks before the BTC halving rewards for mining BCH will be cut virtually in half. Miners then have incentive to mine the BTC chain until it's halving. With the reduced hash bad actors who want to force a chain split may be able to do it. Other miners would have to give up profit in order to defend. The bad actors could move more hash to the network during the activation period in order to force a split. They could even rent hash like they did during the BCH/BSV split. BTC miners who hate BCH (Slush, BitFury) could even throw hash into the IFP side. Seems to me that the voting for IFP will fall right in the period between the BCH and BTC halving. It's a perfect storm brewing. IFP has become an opening for an attack and should be pulled immediately.

4 comments

@Big-Bubbler 29 February 2020

I support the idea of the IFP, but, agree it should be pulled and overhauled and implemented in a way that is not developers making the decision to pay themselves (even though I think they made the right decision on where to send the money).
- @molecular 29 February 2020
  
  in what way do you want to make the decision? I'm against creating any pool of free money
  - @Big-Bubbler 1 March 2020
    
    By "free" do you mean "unallocated" like the general fund component? Some of my ideas on how to make the decisions can be seen here: https://read.cash/@Big-Bubbler/lets-create-a-win-win-ifp-aa002a41
@nimby 29 February 2020

To put it in perspective, at any time, bad miners could create a bogus client that pays themselves money, build a longer chain and try to get exchanges, etc. to go along. This is exactly how an ABC chain should be viewed.