Kamikaze Attack: Block Halving and the Perils of Proof-of-Work
Topics:
- How an attacker would need to go about shorting bitcoin
- How the kamikaze mining pool could be used to bribe miners to join the attacker
- Why all profit-driven miners will have an incentive to join the attack, whether or not they believe it will succeed
- Why the block halving in 2016 could be an exceptionally dangerous time for Bitcoin, since an attack would be cheap to execute and likely to succeed
- How a gradual decrease of the block reward, instead of the 4-year halving rhythm would reduce risk
Links:
Hosts:Sebastien Couture, Brian Crain