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myself
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del
September 09, 2011, 06:17:46 PM
Last edit: September 10, 2012, 06:20:41 PM by myself
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del
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JohnDoe
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September 09, 2011, 06:58:58 PM
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Miners would just keep sending money to themselves to generate a bunch of new coins.
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September 09, 2011, 07:18:13 PM
 #3

They won't lose any money to fees, because they won't broadcast their transactions-to-self, they'll just include them in blocks that they create.


So, evil miner does:

Gets some myselfcoins.
Creates transactions that pays themselves the myselfcoins, and pays BIG fees.
Does NOT broadcast those transactions.
... eventually mines a block that contains those transactions (they're a miner, they can put whatever transactions they like in their blocks).

Then does that again and again, re-using the same coins, getting richer and richer from the FEES+10%

How often do you get the chance to work on a potentially world-changing project?
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September 09, 2011, 07:26:42 PM
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Also how would the currency even start if there's no money and people to trade with at the beginning?
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September 09, 2011, 07:40:37 PM
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What do you mean premium reward? I thought you said there would be no block rewards.
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