Bitcoin Forum
June 19, 2018, 05:13:36 AM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: del  (Read 1300 times)
myself
Guest

del
September 09, 2011, 06:17:46 PM
 #1

del
The World's Betting Exchange

Bet with play money. Win real Bitcoin. 5BTC Prize Fund for World Cup 2018.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
JohnDoe
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
September 09, 2011, 06:58:58 PM
 #2

Miners would just keep sending money to themselves to generate a bunch of new coins.
Gavin Andresen
Legendary
*
Offline Offline

Activity: 1652
Merit: 1013


Chief Scientist


View Profile WWW
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?
JohnDoe
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
September 09, 2011, 07:26:42 PM
 #4

Also how would the currency even start if there's no money and people to trade with at the beginning?
JohnDoe
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
September 09, 2011, 07:40:37 PM
 #5

What do you mean premium reward? I thought you said there would be no block rewards.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!