Alex Mizrahi [ARCHIVE] on Nostr: 📅 Original date posted:2014-04-23 📝 Original message:> And it still would. ...

📅 Original date posted:2014-04-23
📝 Original message:> And it still would. Non-collusive miners cast votes based on the outcome
> of their own attempts to double spend.
>

Individually rational strategy is to vote for coinbase reallocation on
every block.

Yes, in that case nobody will get reward. It is similar to prisoner's
dilemma: equilibrium has worst pay-off.
In practice that would mean that simple game-theoretic models are no longer
applicable, as they lead to absurd results.


> I'm using it in the same sense Satoshi used it. Honest miners work to
> prevent double spends. That's the entire justification for their existence.
> Miners that are deliberately trying to double spend are worse than useless.
>

Miners work to get rewards.
It absolutely doesn't matter whether they are deliberately trying to
double-spend or not: they won't be able to double-spend without a collusion.
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