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Gmane
From: Satoshi Nakamoto <satoshi <at> vistomail.com>
Subject: Re: Bitcoin P2P e-cash paper
Newsgroups: gmane.comp.encryption.general
Date: Monday 3rd November 2008 16:23:49 UTC (over 8 years ago)
>> As long as honest nodes control the most CPU power on the network,
>> they can generate the longest chain and outpace any attackers.
>
>But they don't.  Bad guys routinely control zombie farms of 100,000
>machines or more.  People I know who run a blacklist of spam sending
>zombies tell me they often see a million new zombies a day.
>
>This is the same reason that hashcash can't work on today's Internet
>-- the good guys have vastly less computational firepower than the bad
>guys.

Thanks for bringing up that point.

I didn't really make that statement as strong as I could have.  The
requirement is that the good guys collectively have more CPU power than any
single attacker. 

There would be many smaller zombie farms that are not big enough to
overpower the network, and they could still make money by generating
bitcoins.  The smaller farms are then the "honest nodes".  (I need a better
term than "honest")  The more smaller farms resort to generating bitcoins,
the higher the bar gets to overpower the network, making larger farms also
too small to overpower it so that they may as well generate bitcoins too. 
According to the "long tail" theory, the small, medium and merely large
farms put together should add up to a lot more than the biggest zombie
farm.

Even if a bad guy does overpower the network, it's not like he's instantly
rich.  All he can accomplish is to take back money he himself spent, like
bouncing a check.  To exploit it, he would have to buy something from a
merchant, wait till it ships, then overpower the network and try to take
his money back.  I don't think he could make as much money trying to pull a
carding scheme like that as he could by generating bitcoins.  With a zombie
farm that big, he could generate more bitcoins than everyone else combined.

The Bitcoin network might actually reduce spam by diverting zombie farms to
generating bitcoins instead.

Satoshi Nakamoto

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