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Author Topic: Rasiel's Dragon  (Read 703 times)
rasiel
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November 22, 2013, 11:48:14 PM
 #1

Forgive my newbness - let's start off with that apology - but I am wondering if I've noticed an Achille's heel in the BTC scheme.

What is there to stop a person or state with malicious intent from setting up multiple wallets and automate payments in loop to each other. Done millions of times a second would this not create such a lengthy blockchain, and such an amount of traffic, that it effectively kills the network?

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Gabi
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November 22, 2013, 11:58:54 PM
 #2

You forgot fees. Millions of transactions means tons and tons of fees.

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November 23, 2013, 12:16:09 AM
 #3

You could do the transactions without fees...
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November 23, 2013, 12:19:16 AM
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They would not enter in the blockchain then.

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November 23, 2013, 12:45:55 AM
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Why not? My transaction with 0 fees went into the blockchain.. :O

Anyway wouldn't they at least cause massive amounts of traffic between miners etc?
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November 23, 2013, 12:51:16 AM
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Why not? My transaction with 0 fees went into the blockchain.. :O

Anyway wouldn't they at least cause massive amounts of traffic between miners etc?
Bitcoin has multiple different ways of preventing spam based on age (I don't recall age scheme off top of my head) and BTC value of tx. Maybe you could make an impact if you had 1M BTC.

Peers connected to you would simply reject your transaction if it doesn't meet the minimum fee (there are two potential minimum fees - a minimum fee to relay the transaction, and a minimum fee set by pools to actually include the tx in a block -- only in certain instances is the minimum 0BTC). Mining pools would likely never see them.
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November 23, 2013, 06:09:36 AM
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Miners could choose to ignore them.  They get to choose what transactions get included...
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