Executive Hashpower
Executive Hashpower is what happens when miners decide to act, ignoring markets temporarily. Not following short-term benefit, but a potential future profit (monetary or reputational).
| Precedent | Why | When | Where | Height | Duration | Reorg | Double-spend | Split | |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Bug + 51 blocks Reorg | Accidental | 2010-08-15 (14.4y) | Bitcoin | 74637 | 8h 27m | 51 blocks | ||
| 2. | Bug + 24 blocks Reorg | Accidental | 2013-03-11 (11.8y) | Bitcoin | 225430 | 6h 20m | 24 blocks | ✔ | |
| 3. | BTC-BCH Split | Split | 2017-08-01 (7.4y) | BTC-BCH | 478559 | 4h 56m | ✔ | ||
| 4. | BCH-BSV Split + Hashwar | Hashwar & split | 2018-11-15 (6.1y) | BCH-BSV | 556767 | ~9 days | ✔ | ||
| 5. | Segwit theft + Reorg | Attack | 2019-05-15 (5.6y) | BCH | 582698 | 23m | 2 blocks | ||
| 6. | BCH-XEC Split | Split | 2020-11-15 (4.1y) | BCH-XEC | 661648 | 20h | ✔ | ||
| 7. | XEC Hashwar (empty blocks) | Hashwar | 2020-11-28 (4.1y) | XEC | 662397 | ~5 days | 198 blocks |
XEC Hashwar (empty blocks)
Resume
Retaliation for causing a split to capture the 8% of miners reward
Result
- Mitigated by centralized invalidateblock
- 28 consecutive hours without transactions
- Market price loss
- First empty blocks + reorg attempt
Belligerents
Bitcoin ABC
ViaBTC
Mining-Dutch
ViaBTC
Mining-Dutch
voluntarism.dev
