No, you are wrong and so is everyone else "you are talking to". The thing all of you are missing is that censoring Alice is a race, where the attackers (secret miners) have to get a longer chain in the time it takes the public miners get only two blocks. Remember bittrex gets its blocks only from the public miners.
I already did the analysis, so I won't do them again. But the chief considerations are: (1) attackers have to mine secretly until they have a longer chain, (2) each N-length race is probabilistic, and (3) exchanges and vendors will confirm the transaction after two public blocks.
A race they already win by default for for having better hardware. Why would they need to do it secretly. They can JUST DO IT. Theres nothing more to it than that. Alice would be screwed in this situation. Period. She made some powerful enemies and is now rocking a nearly useless wallet.
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NO THEY DON'T.
51% of the hashes only gets you 51% of the blocks. Alice can submit transactions that stay in the mempool and get accepted on 49% of the blocks. There is absolutely NO censorship in this case. It doesn't even inconvenience Alice because her transaction can stay in the mempool for hundreds of blocks. @dan fails.
To conduct a 51% attack, @dan has to mine secret blocks until he has a longer chain then force a chain reorganization by publishing his fork. While he is trying to get a longer chain, Alice can push a transaction through to bittrex because @dan is going to lose a 2 block race many times over the course of a day. That's how @dan fails.
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you make the argument as if the mining pools own all the hashing under the pool
all miners would leave when they see the attack happening and woulnt take more than 10 minutes, not very long to do anything and most sites use more than one confirmation for a transfer so attack is obsolete with high cost and 0 incentive
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I honestly think they would just either not give a crap or switch to another coin. Exasperating the problem further. Also you are making the argument that anyone would even know the attack was happening.
There is no way we would be able to genuinely know an attack like this was going on. All you have to do is get a couple shills on reddit to respond and say things to confuse the topic more and you can launch attacks like this consequence free forever.
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bots would know when this happens, more accurately described as there algorithms would identify and act accordingly
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What bots, what algorithms and how would they act accordingly?
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a bot is an algorithm
programmers use algorithms(bots) as tools to automate functions and program commands for possible scenarios
do you think miner's review blocks manually and initiate commands manually
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