I am already vaccinated, however, if I had to get the covid vaccine through BSV, I would likely become an anti-vaxxer, flat earther.
No THAT is possibly the best sentiment ever about BSV. Will you be believing the stuff on Ancient Aliens too?
I would discuss Aliens in a different thread. The TLDR is that I think it is unlikely that Aliens (if they exist) and humans will never meet peacefully, even if CSW turns out to be satoshi.
According to the article you cited, the 1000 limit of chained unconfirmed transactions is to allow things such as games to be played on the BSV blockchain. While interesting, I don't think there is a benefit to having every move every player makes in a game permanently recorded on a blockchain. As I noted, the miners should be able to quickly confirm many chains of 1000 unconfirmed transactions or any other spam attack on the BSV network.
Difficulty dealing with spam attacks is not limited to BSV or even altcoins. Bitcoin nodes run by 'normal' users had difficulty dealing with previous spam attacks against bitcoin. Even some of the major businesses had difficulty dealing with previous spam attacks.
Now the mining attacks on BSV probably cost a fair amount of money. BUT there was no corresponding spam attack. Picture the damage that would be done if really did the following.
1) Mine (legit) a few hundred coins
2) Move coins to 1 address.
3) Start building your fork chain
4) Move coins to largest BSV exchange
5) Begin spamming the BSV chain and keep it up
6) Sell your coins
7) Release your fork chain without your move to the exchange or any TXs for that matter
Now above EXCEPT for #5 this is a classic double spend attack
Keep spamming the BSV chain
Now in addition to having to roll back the chain you can in essence make the nodes have to deal with 100s of massive blocks filled with crap.
It will cost close to zero if you spam BSV, regardless if you are mining or not. Any spam attack will not have any long-term effect on the network as blocks can be ridiculously large.
If you can 'starve' other BSV miners from their mining revenue, the majority of them will stop mining BSV, so it would be possible for you to utilize less hashrate to be guaranteed to mine all BSV blocks. This means that it could potentially be +EV to 51% BSV, sell the resulting coin from these blocks on an exchange, withdrawing from said exchange, and creating an alternative blockchain that double spends these deposit transactions (and selling the originally mined coin again, on another exchnage). Your
cost estimate rounds up. If you remove the rounding up, it would cost about $235k per day to be guaranteed to mine all BSV blocks. I would not be suprised if some of the current BSV miners are renting on nicehash, and would stop doing so when they can no longer mine any blocks (any block they found would get orphaned), so the $235k figure may actually go down.
You can earn about $135k per day mining BSV is you are only selling your coin once, so if you sell your coin twice, you can earn $270k per day.
I can see 2 things happening.
1) The largest BSV exchange takes a hit, will they stick around or drop the coin. Might be worth it to do to #s 2 & 3 instead of #1 since they might not be as friendly about it.
According to
coinmarketcap, the #1 exchange for BSV is huobi global, and it it unclear what they actually receive from traders in trading fees, but a lower bound rate of 0.05% is probably a safe assumption. Assuming volume is consistant throughout the year, they have made about $6 million in a year from BSV trades.
Even bitfinex, the #5 exchange for BSV, has made about $192k in trading fees over the past year, assuming they actually receive 0.1% of trading volumes, and their 24h volume (that is entirely made up of a weekend) is consistant over a year.
I am not sure if a $100k loss would even be sufficient to get the #5 exchange to drop the coin. It would probably not be sufficinet for the #1 exchange to drop it. This probably would be a different story several months after BSV was released.
2) Watch all the BSV nodes scream in pain as 100's of GB of data has to be dealt with. With many of them dropping off since the time they took to deal with the non spam filled re-org was very long. Which was what caused a few of the other issues they had.
This may actually be a good opportunity to review how bitcoin handles very long reorgs, and possibly improve how it handles them. BSV nodes were obviously able to handle the initial block download, so there shouldn't be any reason why they can't handle downloading a few hundred blocks at once. The current UTXO set is stored in RAM, but I am not sure if the UTXO set as of any prior block is stored anywhere -- my guess is it is not because doing so would duplicate data already in the database, for example, you can know the UTXO set as of block 1000 by querying all transactions where the block number is less than 1000.
It might not be a bad idea to store the UTXO set from the last 10 blocks in storage, in case there is a reorg up to 10 blocks deep that involves a double spend transaction, changing the UTXO set.
