AntPool is actively sabotaging Bitcoin _ Bitcoin bitcoin value over time

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Except no one has any obligation to mine at the block size limit. That’s just a limit. If the block size limit goes to 2 MB or 8 MB or 32MB, a lot of miners may still decide to restrict the size of their own blocks to less than that for whatever reason, whether it’s a belief they’ll be faster to propogate and more likely to win the reward despite giving up transaction fees or a desire to keep the load on nodes low.Bitcoin value over time

As /u/luke-jr has suggested, smaller blocks may be better for bitcoin. Bitcoin is all about the voluntary choice and freedom of participants to react however they like to particular economic incentives. Rationally, if antpool is behaving irrationally, the next miner would pump out a big block and sweep all those transaction fees with it. It’s only a problem now because we’ve restricted the block size so much now that nearly every block is full- this prevents the free market from correctly assessing the risk of making a larger block to the increased fee rewards and making a decision to produce a larger block.

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They could do this, when the next BCH +300% difficulty reset occurs, by mining just enough blocks to prevent EDA from setting in.Bitcoin value over time

First up, I’m discussing mechanics here, not supporting anyone attacking other chains.

The problem for anyone trying to do this, is that when mining low numbers of blocks (eg just over 6 in 12 hours) you have to account for variance. With low hashrates, variance can be quite dramatic: to near-guarantee enough blocks, you’d have to add a fair chunk of extra hashrate, enough mine at least 7 and probably 8 blocks in a typical hour. And even then, you’re likely to eventually hit the EDA by chance, so you can only delay it. 8 blocks in 12 hours is one per 90 minutes, more than enough to run the chain: BCH would still actually have more tx capacity than BTC, albeit with 9-12 hour confirmation times.

And of course, by doing so you make BCH unprofitable to mine: so more of the other miners leave. That’s the idea, of course, because you’re sabotaging BCH….Bitcoin value over time but you can’t just do this until some miners leave, or the EDA will kick in for the rest. So you have to add hashpower to counteract those leaving. And you have to do so until you control >50% of the BCH hashpower and can properly attack the network.

That’s a lot of hashpower you have to leave mining at a loss, for quite a long period of time. And until you get >50% of the hashrate, you’re basically massively subsidizing BCH.

If you want to spend a few tens of millions of dollars attacking BCH… You probably have better things to do with your time and money.

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