Mining Alarm

Today, about o'clock UTC, on the Bitcoin network was sent out an emergency alert to stop the search for new blocks (Mining) on ​​the client version 0.8. On bitcointalk.org was reported calling for the same thing. In addition, proposed to suspend any action associated with sending BTC.



The same happened next. Network Client version 0.8 generated a block number 225430 (000000000000015c50b165fcdd33556f8b44800c5298943ac70b112df480c023) containing the 1752 transaction. This proved too much for the client version 0.7 and older. Library Berkley DB, used to store the pieces could not import this monster and the block was not considered valid for all clients version <0.8.

That is, all active clients Bitcoin network were divided between those who took 000000000000015c50b165fcdd33556f8b44800c5298943ac70b112df480c023, and those who refused the unit and has a chain of other, smaller unit 00000000000001c108384350f74090433e7fcf79a606b8e797f065b130575932, comprising 797 transactions.

And it's a disgrace. Network integrity was compromised. A few hours opposing clients could not decide which is more correct chain and create new blocks for their supply chains. In the Bitcoin network is a means for the automatic release of such difficulties: taken for granted over a long chain of blocks. But without administrative action, this system would not work. Much of the customers, and, more importantly, many pools of miners (miners) have already upgraded to version 0.8. If mining, searching for new units was not stopped at this version, now we have two options Bitcoin is rapidly diverging farther and farther. Along with a bunch of utter real money that they are enclosed. Fortunately, this did not happen. As of now, the chain is derived from 00000000000001c108384350f74090433e7fcf79a606b8e797f065b130575932 won.

But the aftertaste remained. It's not even the fact that the code that supports the Bitcoin system may be bugs, they are everywhere. But the one who controls it all. This incident clearly shows that even a well-designed system is vulnerable against the tyranny of the very few people, namely, the owners of the mining pools. More than 70% of the new units are now just in the pools, and not on individual clients. The idea behind the system that most of the good people can resist a little wicked, when found, is not currently running. The winner of the battle will be possible one with thicker computing power, and nothing more.


UPD: Sorry, was not without consequences. There was an almost double spending. 211 BTC, which is equivalent to about $ 10,000 at today's prices have been spent twice. Almost, because in accordance with the basic block chaining money was spent only one day. But the processing of the payment system, under the strain of last night, worked twice, for both chains of blocks. Transaction. Details.