1. Shorting Bitcoin 2. Kamikaze Pool 3. Block Halving
Shorting Bitcoin
1.Take big short position on bitcoin
2.Attack network to collapse prize of bitcoin
Kamikaze Pool
1.Mine empty blocks, disregard blocks of other miners
2.Pay 10x per share to miners
Undermining Confidence
Mine with Kamikaze PoolDo Not Mine With Kamikaze
Pool
Attack Succeeds
Attack Fails
Block Halving 2016
Collapse in Revenues
Pre-Halving
Post-Halving
Block Reward $1,000 $500
Transaction Fees $500 $500
Operating Costs $1,200 $1,200
Net Profit $300 -$200
Success & Fragility
One Shot?
Blockchain Eternity
Credit
Alex Mizrahi, Jonathan Levin, Callum Macdonald, Martin Köppelmann, Vitalik Buterin, Robert Sams, Daniel Gallancy, Tim Swanson, Meni Rosenfeld, Sebastien Couture & others