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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).

PrecedentWhyWhenWhereHeightDurationReorgDouble-spendSplit
1.Bug + 51 blocks ReorgAccidental2010-08-15 (13.6y)Bitcoin746378h 27m51 blocks
2.Bug + 24 blocks ReorgAccidental2013-03-11 (11y)Bitcoin2254306h 20m24 blocks
3.BTC-BCH SplitSplit2017-08-01 (6.6y)BTC-BCH4785594h 56m
4.BCH-BSV Split + HashwarHashwar & split2018-11-15 (5.3y)BCH-BSV556767~9 days
5.Segwit theft + ReorgAttack2019-05-15 (4.8y)BCH58269823m2 blocks
6.BCH-XEC SplitSplit2020-11-15 (3.3y)BCH-XEC66164820h
7.XEC Hashwar (empty blocks)Hashwar2020-11-28 (3.3y)XEC662397~5 days198 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
voluntarism.dev