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This so-called "reorg attack" is basic strategy and has been known for yrs
It's a defense, a way to "mark as theft," there's no "rollback," no coordination w/ miners required
This impacts no other transactions that are happening meantime, causes no hf
It's a defense, a way to "mark as theft," there's no "rollback," no coordination w/ miners required
This impacts no other transactions that are happening meantime, causes no hf
Hacker could re-bribe ofc, leading to bidding war. So you could say post-block rewards, most of hacked value will accrue to miners (vis a vis that bidding war)
We will likely see ppl build out tools to estimate a safe # of confirms required based on the BTC amt of the TX
We will likely see ppl build out tools to estimate a safe # of confirms required based on the BTC amt of the TX
I do think it's an exercise in using precise language. It came across to many as "brb, reorg-ing BTC atm" which triggered many ppl's sense of disgust and was a call to arms to defend immutability. Yet there's plenty of Bitcoiners who understand that this is just how PoW works
I've seen some journalists opine on this and recommend you speak w/ some ppl who know what theyre talking about, b/c some of the commentary I've seen is so low-lvl it's honestly sad to see @_prestwich @JeremyRubin @hasufl
