Title: What is actually use of SegWit? Post by: Skarner21 on November 15, 2016, 10:17:02 AM Hi guys this just a noob question sorry for asking it because i do not actually know what is the use of segwit.
I need some opinion or best answer if what is the actually uses of segregate witness? I hope i can get some ideas and learn something about this Segwit added from wallets. Title: Re: What is actually use of SegWit? Post by: mezzomix on November 15, 2016, 10:26:50 AM It's basically a fix for the transaction malleability problem.
Title: Re: What is actually use of SegWit? Post by: TastyChillySauce00 on November 15, 2016, 10:28:31 AM just got this point from : https://bitcoincore.org/en/2016/01/26/segwit-benefits/
Quote Segwit prevents third-party and scriptSig malleability by allowing Bitcoin users to move the malleable parts of the transaction into the transaction witness, and segregating that witness so that changes to the witness does not affect calculation of the txid. and also some important points Quote Who benefits? - Wallet authors tracking spent bitcoins: it’s easiest to monitor the status of your own outgoing transactions by simply looking them up by txid. But in a system with third-party malleability, wallets must implement extra code to be able to deal with changed txids. - Anyone spending unconfirmed transactions: if Alice pays Bob in transaction 1, Bob uses that payment to pay Charlie in transaction 2, and then Alice’s payment gets malleated and confirmed with a different txid, then transaction 2 is now invalid and Charlie has not been paid. If Bob is trustworthy, he will reissue the payment to Charlie; but if he isn’t, he can simply keep those bitcoins for himself. - The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. - Anyone using the block chain: smart contracts today, such as micropayment channels, and anticipated new smart contracts, become less complicated to design, understand, and monitor. Title: Re: What is actually use of SegWit? Post by: Lauda on November 15, 2016, 12:10:55 PM just got this point from : https://bitcoincore.org/en/2016/01/26/segwit-benefits/ Everything that was quoted in your post is specifically regarding the malleability fix. However, there are plenty of other benefits down below:-snip-
I hope i can get some ideas and learn something about this Segwit added from wallets. Keep in mind that in order to make Segwit transactions you have to update your wallet to one that supports Segwit. [/list]Title: Re: What is actually use of SegWit? Post by: amaclin on November 15, 2016, 02:38:32 PM
Title: Re: What is actually use of SegWit? Post by: Lauda on November 15, 2016, 02:45:00 PM really? ;D Just read the whole link:Quote Segwit improves the situation here by making signature data, which does not impact the UTXO set size, cost 75% less than data that does impact the UTXO set size. This is expected to encourage users to favour the use of transactions that minimise impact on the UTXO set in order to minimise fees, and to encourage developers to design smart contracts and new features in a way that will also minimise the impact on the UTXO set. There are other ways of improving this, but those aren't technological (e.g. running some sort of *action* to raise awareness and get people to consolidate their outputs).Because segwit is a soft-forking change and does not increase the base blocksize, the worst case growth rate of the UTXO set stays the same. Title: Re: What is actually use of SegWit? Post by: amaclin on November 15, 2016, 03:09:57 PM ...This is expected to encourage users to.... This is expected to encourage users to use more spam/dust/datastorage transactions.And services like http://www.cryptograffiti.info/ So, segwit does not reduce the utxo growth. fyi http://statoshi.info/dashboard/db/unspent-transaction-output-set?panelId=5&fullscreen&from=1389367071369&to=1479223255583 http://statoshi.info/dashboard/db/unspent-transaction-output-set?panelId=6&fullscreen&from=1389367071369&to=1479223341652 Title: Re: What is actually use of SegWit? Post by: thejaytiesto on November 15, 2016, 05:21:03 PM It's basically a fix for the transaction malleability problem. This is the basic explanation but it doesn't include all the cool things that come with it. After fixing transaction malleability problem, then we can have all the stuff we ever dreamed with, like faster transactions, side chains, schnorr signatures, confidential transactions, and a lot of other cool stuff that will help push bitcoin to the next level. Title: Re: What is actually use of SegWit? Post by: Ayers on November 15, 2016, 05:40:34 PM It's basically a fix for the transaction malleability problem. and the problem about the block size, and effective 2MB, and the transaction that are stuck because of the limit, but until it is activated this will not work i guess Title: Re: What is actually use of SegWit? Post by: mummybtc on November 15, 2016, 05:49:37 PM Segwit is going to help Bitcoin scaling, initially it is going to up the block size by 0.75mb and will also enable other projects like Rootstock and sidechains on Bitcoin blockchain
Title: Re: What is actually use of SegWit? Post by: Skarner21 on November 20, 2016, 06:56:36 PM It's basically a fix for the transaction malleability problem. This is the basic explanation but it doesn't include all the cool things that come with it. After fixing transaction malleability problem, then we can have all the stuff we ever dreamed with, like faster transactions, side chains, schnorr signatures, confidential transactions, and a lot of other cool stuff that will help push bitcoin to the next level. But let me know if electrum has also segwit feature or this is only for bitcoin-qt.. upon checking the electrum download i do not see any segwit added in their wallet. Title: Re: What is actually use of SegWit? Post by: cjmoles on November 20, 2016, 10:09:34 PM It's basically a fix for the transaction malleability problem. This is the basic explanation but it doesn't include all the cool things that come with it. After fixing transaction malleability problem, then we can have all the stuff we ever dreamed with, like faster transactions, side chains, schnorr signatures, confidential transactions, and a lot of other cool stuff that will help push bitcoin to the next level. I've been dreaming about smart contracts! Will smart contracts be easier to implement in the new client, or will they still only be available to those who possess a Phd in cryptography? Is SegWit taking a step in that direction, or taking a step back from that possibility? Title: Re: What is actually use of SegWit? Post by: achow101 on November 20, 2016, 10:14:48 PM It's basically a fix for the transaction malleability problem. This is the basic explanation but it doesn't include all the cool things that come with it. After fixing transaction malleability problem, then we can have all the stuff we ever dreamed with, like faster transactions, side chains, schnorr signatures, confidential transactions, and a lot of other cool stuff that will help push bitcoin to the next level. But let me know if electrum has also segwit feature or this is only for bitcoin-qt.. upon checking the electrum download i do not see any segwit added in their wallet. You can visit https://bitcoincore.org/en/segwit_adoption/ to see the current status of segwit adoption. Title: Re: What is actually use of SegWit? Post by: TKeenan on November 29, 2016, 12:33:26 AM SegWit is used to fix the network so Lightning can be attached later. Lightning allows you to pay Blockstream for transactions rather than the miners.
Title: Re: What is actually use of SegWit? Post by: Lauda on November 29, 2016, 12:35:04 AM SegWit is used to fix the network so Lightning can be attached later. Lightning allows you to pay Blockstream for transactions rather than the miners. Wrong. Lightning Network is open source, thus can be implemented by anyone. You are may be talking about Lightning Hubs which can be run by anyone. There are currently several different teams working on this, i.e. several different implementations. Title: Re: What is actually use of SegWit? Post by: achow101 on November 29, 2016, 12:36:28 AM SegWit is used to fix the network so Lightning can be attached later. Lightning allows you to pay Blockstream for transactions rather than the miners. Please stop with the FUD. Lightning is not just being developed by Blockstream. There are already multiple implementations of Lightning made by multiple different teams, only one of which is Blockstream.Furthermore segwit is more than just a fix for Lightning. It provides much more uses and fixes which have already been discussed in this thread and elsewhere. Title: Re: What is actually use of SegWit? Post by: kiklo on November 29, 2016, 01:58:22 AM Furthermore segwit is more than just a fix for Lightning. It provides much more uses and fixes which have already been discussed in this thread and elsewhere. Segwit makes it easier to track your Transactions. SegWit : Makes it So a LN Node does not have to run a full Bitcoin node The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. Simply put SegWit will make it possible to Steal BTC Value to use in LN Alternative Payment System using BTC IOUs . Miners will lose money because LN can decrease the number of OnChain Transactions. (In Theory : Using advanced features LN may even allow only certain miners to process the transaction Fees when Onchain BTC Transactions are required.) (Giving LN Nodes the ability to starve miners not in Collusion with them of transaction fees. ) :P LN=Bank 8) Title: Re: What is actually use of SegWit? Post by: mikewirth on November 29, 2016, 02:01:00 AM Simply put SegWit will make it possible to Steal BTC Value to use in LN Alternative Payment System using BTC IOUs . Miners will lose money because LN can decrease the number of OnChain Transactions. (In Theory : Using advanced features LN may even allow only certain miners to process the transaction Fees when Onchain BTC Transactions are required.) The only thing LN does is limit fees for miners and give those fees to owners of Lightning Network (Blockstream) Title: Re: What is actually use of SegWit? Post by: achow101 on November 29, 2016, 02:06:19 AM Segwit makes it easier to track your Transactions. In what way? The way that inputs and outputs work are still exactly the same.SegWit : Makes it So a LN Node does not have to run a full Bitcoin node How so? An LN Node doesn't need to be a full Bitcoin node already. They can work fine as SPV wallets now and after Segwit. Segwit does not change that at all.The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. What requires a Lightning client to be a full node? As I understand it, it doesn't matter, and segwit does not change that.Simply put SegWit will make it possible to Steal BTC Value to use in LN Alternative Payment System using BTC IOUs . I don't think you understand how LN works. LN does not issue IOUs. It creates very real, valid, and broadcastable Bitcoin transactions. There are no IOUs involved.Miners will lose money because LN can decrease the number of OnChain Transactions. Not necessarily. LN is not for every type of transaction. It is really only good for small, repeated transactions like faucet payments. (In Theory : Using advanced features LN may even allow only certain miners to process the transaction Fees when Onchain BTC Transactions are required.) Now that is just FUD. How would LN only allow certain miners to confirm those transactions? That is just completely false.(Giving LN Nodes the ability to starve miners not in Collusion with them of transaction fees. ) :P The only thing LN does is limit fees for miners and give those fees to owners of Lightning Network (Blockstream) Blockstream does not own the Lightning Network. LN is an open source spec that is being implemented by multiple teams, it has not owner nor controller.Regardless, discussing LN in this thread is off topic. You are demonstrating and extreme lack of knowledge on subjects you are arguing against. I highly suggest that you actually do some research before posting. Please stop spreading FUD. Title: Re: What is actually use of SegWit? Post by: kiklo on November 29, 2016, 02:30:39 AM In by Case , By FUD
F = FACTS U = UNSUNG D = DEBUNK :D Segwit makes it easier to track your Transactions. In what way? The way that inputs and outputs work are still exactly the same.Reference : https://bitcoincore.org/en/2016/01/26/segwit-benefits/ Quote Wallet authors tracking spent bitcoins: it’s easiest to monitor the status of your own outgoing transactions by simply looking them up by txid. But in a system with third-party malleability, wallets must implement extra code to be able to deal with changed txids. SegWit : Makes it So a LN Node does not have to run a full Bitcoin node How so? An LN Node doesn't need to be a full Bitcoin node already. They can work fine as SPV wallets now and after Segwit. Segwit does not change that at all.Reference: https://bitcoincore.org/en/2016/01/26/segwit-benefits/ The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. What requires a Lightning client to be a full node? As I understand it, it doesn't matter, and segwit does not change that.Yo Dum Dum , same answer as above. ;) Reference: https://bitcoincore.org/en/2016/01/26/segwit-benefits/ The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. Simply put SegWit will make it possible to Steal BTC Value to use in LN Alternative Payment System using BTC IOUs . I don't think you understand how LN works. LN does not issue IOUs. It creates very real, valid, and broadcastable Bitcoin transactions. There are no IOUs involved.Do you not understand the Word OFFCHAIN , BTC is only Locked on the ONLINE BLOCKCHAIN, it is not and can not be moved onto LN's network, So you are trading BTC IOUs when you use LN. Miners will lose money because LN can decrease the number of OnChain Transactions. Not necessarily. LN is not for every type of transaction. It is really only good for small, repeated transactions like faucet payments. LN will cost the Miners money , that is why less than 30% have been dumb enough to agree to it. (In Theory : Using advanced features LN may even allow only certain miners to process the transaction Fees when Onchain BTC Transactions are required.) Now that is just FUD. How would LN only allow certain miners to confirm those transactions? That is just completely false.(Giving LN Nodes the ability to starve miners not in Collusion with them of transaction fees. ) :P One of the Concerns in the LN Network Whitepaper is that , Miners may Decline Certain LN transactions so their Locks timeout and the BTC can be Stolen. If the above is possible, the reverse is also possible which makes what I said a Valid Theory. You are demonstrating and extreme lack of knowledge on subjects you are arguing against. I highly suggest that you actually do some research before posting. Please stop spreading FUD. Here is some research for you , and it admits Funds can & will be Stolen by people using LN. (Looks like the only one spreading BS, is you achow101.) ;) Reference: https://lightning.network/lightning-network-paper.pdf Quote 9 Risks The primary risks relate to timelock expiration. Additionally, for core nodes and possibly some merchants to be able to route funds, the keys must be held online for lower latency. However, end-users and nodes are able to keep their private keys rewalled o in cold storage. 9.1 Improper Timelocks Participants must choose timelocks with suffcient amounts of time. If insuffcient time is given, it is possible that timelocked transactions believed to be invalid will become valid, enabling coin theft by the counterparty. There is a trade-off between longer timelocks and the time-value of money. When writing wallet and Lightning Network application software, it is necessary to ensure that suffcient time is given and users are able to have their trans-actions enter into the blockchain when interacting with non-cooperative or malicious channel counterparties. 9.2 Forced Expiration Spam Forced expiration of many transactions may be the greatest systemic risk when using the Lightning Network. If a malicious participant creates many channels and forces them all to expire at once, these may overwhelm block data capacity, forcing expiration and broadcast to the blockchain. The re-sult would be mass spam on the bitcoin network. The spam may delay transactions to the point where other locktimed transactions become valid. This may be mitigated by permitting one transaction replacement on all pending transactions. Anti-spam can be used by permitting only one transaction replacement of a higher sequence number by the inverse of an even or odd number. For example, if an odd sequence number was broad- cast, permit a replacement to a higher even number only once. Transactions would use the sequence number in an orderly way to replace other trans- actions. This mitigates the risk assuming honest miners. This attack is extremely high risk, as incorrect broadcast of Commitment Transactions entail a full penalty of all funds in the channel. Additionally, one may attempt to steal HTLC transactions by forcing a timeout transaction to go through when it should not. This can be easily mitigated by having each transfer inside the channel be lower than the total transaction fees used. Since transactions are extremely cheap and do not hit the blockchain with cooperative channel counterparties, large transfers of value can be split into many small transfers. This attempt can only work if the blocks are completely full for a long time. While it is possible to mitigate it using a longer HTLC timeout duration, variable block sizes may become common, which may need mitigations. If this type of transaction becomes the dominant form of transactions which are included on the blockchain, it may become necessary to increase the block size and run a variable blocksize structure and timestop ags as described in the section below. This can create suffcient penalties and disincentives to be highly unpro table and unsuccessful for attackers, as attackers lose all their funds from broadcasting the wrong transaction, to the point where it will never occur. 9.4 Data Loss When one party loses data, it is possible for the counterparty to steal funds. This can be mitigated by having a third party data storage service where encrypted data gets sent to this third party service which the party cannot decrypt. Additionally, one should choose channel counterparties who are responsible and willing to provide the current state, with some periodic tests of honesty. 9.5 Forgetting to Broadcast the Transaction in Time If one does not broadcast a transaction at the correct time, the counterparty may steal funds. This can be mitigated by having a designated third party to send funds. An output fee can be added to create an incentive for this third party to watch the network. Further, this can also be mitigated by implementing OP CHECKSEQUENCEVERIFY Title: Re: What is actually use of SegWit? Post by: achow101 on November 29, 2016, 02:55:42 AM In what way? The way that inputs and outputs work are still exactly the same. I assumed that you were talking about tracking as in de-anonymizing who is sending the transaction. Instead you are talking about tracking as in checking the confirmation status of a transaction. In the latter case (watching a transaction) it is easier to track because malleability is fixed.Reference : https://bitcoincore.org/en/2016/01/26/segwit-benefits/[/color] Quote Wallet authors tracking spent bitcoins: it’s easiest to monitor the status of your own outgoing transactions by simply looking them up by txid. But in a system with third-party malleability, wallets must implement extra code to be able to deal with changed txids. he Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. I don't think that it is necessary for lightning to be a full node. It can still work without being a full node but with some additional complexity. Where in the lightning paper does it say that a full node is required?Do you not understand the Word OFFCHAIN , BTC is only Locked on the ONLINE BLOCKCHAIN, it is not and can not be moved onto LN's network, The Lightning Network conducts transactions by creating Bitcoin transactions that can be broadcast onto the Bitcoin network at any time. There are no IOUs being traded, what is happening is that transactions are being created but not broadcast. Again, there is no separate thing where Bitcoin is being converted into some sort of IOU on lightning.So you are trading BTC IOUs when you use LN. (In Theory : Using advanced features LN may even allow only certain miners to process the transaction Fees when Onchain BTC Transactions are required.) Now that is just FUD. How would LN only allow certain miners to confirm those transactions? That is just completely false.(Giving LN Nodes the ability to starve miners not in Collusion with them of transaction fees. ) :P One of the Concerns in the LN Network Whitepaper is that , Miners may Decline Certain LN transactions so their Locks timeout and the BTC can be Stolen. If the above is possible, the reverse is also possible which makes what I said a Valid Theory. Title: Re: What is actually use of SegWit? Post by: Temp_JayJuanGee on November 29, 2016, 03:45:23 AM In by Case , By FUD F = FACTS U = UNSUNG D = DEBUNK :D Pretty much when anyone tries to redefine FUD spreading as if it were some form of higher but necessary truth, then most of the time, that person is engaged in such a practice of disinformation. (by the way, FUD spreading = the posting of information (usually misinformation) that is meant to cause Fear, Uncertainty, Doubt in the reader of such) Title: Re: What is actually use of SegWit? Post by: kiklo on November 29, 2016, 07:12:03 AM In by Case , By FUD F = FACTS U = UNSUNG D = DEBUNK :D Pretty much when anyone tries to redefine FUD spreading as if it were some form of higher but necessary truth, then most of the time, that person is engaged in such a practice of disinformation. (by the way, FUD spreading = the posting of information (usually misinformation) that is meant to cause Fear, Uncertainty, Doubt in the reader of such) Thanks Newbie, ;) There is a lot of something being spread, don't step in it. 8) Title: Re: What is actually use of SegWit? Post by: kiklo on November 29, 2016, 07:39:30 AM he Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. I don't think that it is necessary for lightning to be a full node. It can still work without being a full node but with some additional complexity. Where in the lightning paper does it say that a full node is required?That little tidbit of info comes from Bitcore https://bitcoincore.org/en/2016/01/26/segwit-benefits/ Quote The Lightning Network: with third-party and scriptSig malleability fixed, the Lightning Network is less complicated to implement and significantly more efficient in its use of space on the blockchain. With scriptSig malleability removed, it also becomes possible to run lightweight Lightning clients that outsource monitoring the blockchain, instead of each Lightning client needing to also be a full Bitcoin node. Do you not understand the Word OFFCHAIN , BTC is only Locked on the ONLINE BLOCKCHAIN, it is not and can not be moved onto LN's network, The Lightning Network conducts transactions by creating Bitcoin transactions that can be broadcast onto the Bitcoin network at any time. There are no IOUs being traded, what is happening is that transactions are being created but not broadcast. Again, there is no separate thing where Bitcoin is being converted into some sort of IOU on lightning.So you are trading BTC IOUs when you use LN. LN is OFFCHAIN, unless it is ONCHAIN, it is LITERALLY IMPOSSIBLE for BTC to be on it , meaning you have BTC IOUs on LN. In other words , since BTC can not exist Offchain, What LN lists as a BTC is merely a debt for BTC, which is paid upon completion of contracts. IOU => is usually an informal document acknowledging debt (In Theory : Using advanced features LN may even allow only certain miners to process the transaction Fees when Onchain BTC Transactions are required.) Now that is just FUD. How would LN only allow certain miners to confirm those transactions? That is just completely false.(Giving LN Nodes the ability to starve miners not in Collusion with them of transaction fees. ) :P One of the Concerns in the LN Network Whitepaper is that , Miners may Decline Certain LN transactions so their Locks timeout and the BTC can be Stolen. If the above is possible, the reverse is also possible which makes what I said a Valid Theory. It is a Valid Theory of Possible Danger of Collusion between LN Nodes & Miners. The original thought confirms the possibility of the reverse. ;) 8) FYI: Quote not some technical aspect of LN that makes it possible for only specific miners to mine those transactions. Until LN has been up and running for a year or so , You don't really know what additional feature could be installed. ;)They are including an option so the miner can induce an option to ignore a block, so it does not affect the time lock, under certain attack conditions. Adding a rotating passcode so LN knows to only include it's transactions in a Block from a specific miner , is also not out of the realm of possibility. Would they do it , hopefully not, but would it be possible, yes it would, which is why I said Theory and not fact. Title: Re: What is actually use of SegWit? Post by: Temp_JayJuanGee on November 29, 2016, 08:54:28 AM In by Case , By FUD F = FACTS U = UNSUNG D = DEBUNK :D Pretty much when anyone tries to redefine FUD spreading as if it were some form of higher but necessary truth, then most of the time, that person is engaged in such a practice of disinformation. (by the way, FUD spreading = the posting of information (usually misinformation) that is meant to cause Fear, Uncertainty, Doubt in the reader of such) Thanks Newbie, ;) There is a lot of something being spread, don't step in it. 8) Yes, another sign of a misinformation campaign is attacking the person rather than the argument. And, by the way, I am not a newbie.. just having some issues with my regular account, as might be inferred by my username. Substantively, I have trouble with quite a few of the seg wit naysayers, because in part, when seg wit was first proposed in December 2015, there was nearly unanimous agreement that it was a good thing for bitcoin. And, overall, there really is no major technical criticism against it - except for attempts at FUD spreading (in other words misinformation campaigns that play to emotions rather than logic). Surely it would be a good thing to get seg wit activated in the coming 6 months in order that Bitcoin developers will be able to take advantage of some of the features and to build upon it and to bring more to end-users, such as myself (and maybe a large segment of the population that does not want to get into technicalities, as long as their value remains decentralized immutable and securely able to store and transfer). Title: Re: What is actually use of SegWit? Post by: kiklo on November 29, 2016, 09:11:29 AM Yes, another sign of a misinformation campaign is attacking the person rather than the argument. And, by the way, I am not a newbie.. just having some issues with my regular account, as might be inferred by my username. Substantively, I have trouble with quite a few of the seg wit naysayers, because in part, when seg wit was first proposed in December 2015, there was nearly unanimous agreement that it was a good thing for bitcoin. And, overall, there really is no major technical criticism against it - except for attempts at FUD spreading (in other words misinformation campaigns that play to emotions rather than logic). Surely it would be a good thing to get seg wit activated in the coming 6 months in order that Bitcoin developers will be able to take advantage of some of the features and to build upon it and to bring more to end-users, such as myself (and maybe a large segment of the population that does not want to get into technicalities, as long as their value remains decentralized immutable and securely able to store and transfer). Your trying to taint my posts as misinformation is strictly Bullshit. I post my conclusions along with the Links to the Whitepapers and articles that help me form those conclusions. Which people can read those links and form their own personal conclusion. Where as you are the only one throwing unsubstantiated slander toward me to cover up your lack of actual information. Where is your detailed analyzes with links to articles & whitepapers or is a 3rd grade propaganda tactic all you have? 8) FYI : This Post says all I need to know about you, newbie. You yourself admit you don't know Jack about SegWit. :D My question is how to explain segwit with using simple words, there is many technical analysis, explanations. Here in thread people mostly talk about supporting segwit and how to support it, will wallet's be updated for segwit. My question is simple, what is SegWit, what this actually do? What we can gain with using SegWit? Is there some simple explanation for all this questions? I don't claim to be any kind of expert either or even to know if important points are being left out of any kind of explanation... snip* Title: Re: What is actually use of SegWit? Post by: achow101 on November 29, 2016, 01:24:07 PM That little tidbit of info comes from Bitcore And they are wrong. I have spoken to Rusty about this and we both reached the same conclusion that it is in fact possible to create a lightweight lightning client without segwit, it just is a little more complex.It is a Valid Theory of Possible Danger of Collusion between LN Nodes & Miners. Again, it is not something specific to LN but rather something that is possible regardless of LN being used or notThe original thought confirms the possibility of the reverse. ;) Quote not some technical aspect of LN that makes it possible for only specific miners to mine those transactions. Until LN has been up and running for a year or so , You don't really know what additional feature could be installed. ;)They are including an option so the miner can induce an option to ignore a block, so it does not affect the time lock, under certain attack conditions. Adding a rotating passcode so LN knows to only include it's transactions in a Block from a specific miner , is also not out of the realm of possibility. Would they do it , hopefully not, but would it be possible, yes it would, which is why I said Theory and not fact. Title: Re: What is actually use of SegWit? Post by: Temp_JayJuanGee on November 29, 2016, 04:45:37 PM Yes, another sign of a misinformation campaign is attacking the person rather than the argument. And, by the way, I am not a newbie.. just having some issues with my regular account, as might be inferred by my username. Substantively, I have trouble with quite a few of the seg wit naysayers, because in part, when seg wit was first proposed in December 2015, there was nearly unanimous agreement that it was a good thing for bitcoin. And, overall, there really is no major technical criticism against it - except for attempts at FUD spreading (in other words misinformation campaigns that play to emotions rather than logic). Surely it would be a good thing to get seg wit activated in the coming 6 months in order that Bitcoin developers will be able to take advantage of some of the features and to build upon it and to bring more to end-users, such as myself (and maybe a large segment of the population that does not want to get into technicalities, as long as their value remains decentralized immutable and securely able to store and transfer). Your trying to taint my posts as misinformation is strictly Bullshit. I post my conclusions along with the Links to the Whitepapers and articles that help me form those conclusions. Which people can read those links and form their own personal conclusion. Where as you are the only one throwing unsubstantiated slander toward me to cover up your lack of actual information. Where is your detailed analyzes with links to articles & whitepapers or is a 3rd grade propaganda tactic all you have? 8) FYI : This Post says all I need to know about you, newbie. You yourself admit you don't know Jack about SegWit. :D My question is how to explain segwit with using simple words, there is many technical analysis, explanations. Here in thread people mostly talk about supporting segwit and how to support it, will wallet's be updated for segwit. My question is simple, what is SegWit, what this actually do? What we can gain with using SegWit? Is there some simple explanation for all this questions? I don't claim to be any kind of expert either or even to know if important points are being left out of any kind of explanation... snip* I have been around long enough to recognize the difference between substantive discussion and distraction and to know when folks are engaged in snow jobs and attempts to drag discussion into the weeds rather than engaging in substantive discussions that get the broader picture correct (as well as the details, if they are necessary and relevant), and I have likely said sufficiently enough, at this point... because your seeming attempts to focus on the weeds in order to attempt to trick and distract seems quite apparent. Surely, if you start to make some sense in some of your basic discussion of facts, parameters and logic then maybe I will spend a little time looking further into those substantive discussions (to the extent they might exist), which at this point seem to be mostly nonsensical distractions and speculations rather than pointing out actual cost benefit analysis based on real world and probable facts and decent logic. Regarding the actual outline of seg wit, it was proposed and vetted over the past year or so (and maybe it took a bit longer than necessary, but that also gave time for vetting and discussion), and accordingly, seg wit seems to be presented as a very decent next step, especially from folks who are providing decent and non tricky explanations. Surely, if some supplemental alternatives get proposed and approved, such as increasing the blocksize har limit or something like that, or changing bitcoin's governance (which seems to be the agenda of a lot of the nutjob seg wit naysayers) then surely reasonable and necessary changes can be considered, vetted, and then incorporated, as well, but at this point, the advantages of seg wit seem to largely outweigh speculation and very unlikely scenarios about it's supposed disadvantages. Title: Re: What is actually use of SegWit? Post by: kiklo on November 29, 2016, 08:20:42 PM @Temp_JayJuanGee
Your own words are the best reply to you. :D My question is how to explain segwit with using simple words, there is many technical analysis, explanations. Here in thread people mostly talk about supporting segwit and how to support it, will wallet's be updated for segwit. My question is simple, what is SegWit, what this actually do? What we can gain with using SegWit? Is there some simple explanation for all this questions? I don't claim to be any kind of expert either or even to know if important points are being left out of any kind of explanation... snip* 8) Title: Re: What is actually use of SegWit? Post by: Temp_JayJuanGee on November 29, 2016, 08:51:02 PM @Temp_JayJuanGee Your own words are the best reply to you. :D My question is how to explain segwit with using simple words, there is many technical analysis, explanations. Here in thread people mostly talk about supporting segwit and how to support it, will wallet's be updated for segwit. My question is simple, what is SegWit, what this actually do? What we can gain with using SegWit? Is there some simple explanation for all this questions? I don't claim to be any kind of expert either or even to know if important points are being left out of any kind of explanation... snip* 8) Yes, I see that you have a very hard time staying on topic and responding to the substance of what people say within some kind of context. I say all kinds of shit, within a context and responsive to a point. Your various responses to me, are not responsive to what I say but instead attempts at distractions by either raising other issues or attempting to make the context of one response reply to another situation (which seems to be the thrust of why you are quoting me)... a pretty decent sign that you are not attempting to engage in any kind of meaningful discussion, but instead engaging in distracting levels of shit stirring. Title: Re: What is actually use of SegWit? Post by: kiklo on November 30, 2016, 12:49:45 AM @Temp_JayJuanGee,
You basically admitted you don't know jack , so you have no information to actually talk about except your little soap opera attacks, which are devoid of everything except your feelings. I could give a rat's ass about your feelings. If you want to argue a technical point then post it, but keep throwing out those whiny I feel attacks, and you keep getting more of the same, because that is all they deserve in response. Your call. 8) Title: Re: What is actually use of SegWit? Post by: kiklo on November 30, 2016, 01:01:07 AM That little tidbit of info comes from Bitcore And they are wrong. I have spoken to Rusty about this and we both reached the same conclusion that it is in fact possible to create a lightweight lightning client without segwit, it just is a little more complex.Then Tell them to Update their Lying Website, until then , I will believe the website over you. ;) It is a Valid Theory of Possible Danger of Collusion between LN Nodes & Miners. Again, it is not something specific to LN but rather something that is possible regardless of LN being used or notThe original thought confirms the possibility of the reverse. ;) Reading Comprehension is not your strong suit, Collusion between LN Nodes & Miners , would most definitely be specific to LN :P Quote not some technical aspect of LN that makes it possible for only specific miners to mine those transactions. Until LN has been up and running for a year or so , You don't really know what additional feature could be installed. ;)They are including an option so the miner can induce an option to ignore a block, so it does not affect the time lock, under certain attack conditions. Adding a rotating passcode so LN knows to only include it's transactions in a Block from a specific miner , is also not out of the realm of possibility. Would they do it , hopefully not, but would it be possible, yes it would, which is why I said Theory and not fact. is not even mentioned in the paper at all from some statements in the paper about the RISKS of LN You Contradict yourself in the same sentence. :D 8) Title: Re: What is actually use of SegWit? Post by: kiklo on November 30, 2016, 01:04:27 AM To anyone actually wanting to know more about Segwit, read the 1st page of this topic and make up your own minds.
These guys on the 2nd page , pure waste of my time. ;) 8) FYI: In the end the Miners will determine whether or not SegWit is even activated. Odds are all of these concerns over segwit & LN will be blocked by the Mining Pools anyway. Title: Re: What is actually use of SegWit? Post by: Temp_JayJuanGee on November 30, 2016, 03:06:05 AM @Temp_JayJuanGee, You basically admitted you don't know jack , so you have no information to actually talk about except your little soap opera attacks, which are devoid of everything except your feelings. I could give a rat's ass about your feelings. If you want to argue a technical point then post it, but keep throwing out those whiny I feel attacks, and you keep getting more of the same, because that is all they deserve in response. Your call. 8) You are probably correct that it is not necessary for me to attempt to engage with you on this topic, and I think that I already stated my reasons and you stated your reasons and we seem to disagree about things. By the way, even though you seem inclined to want to disqualify me from this topic, it does not seem to be necessary to know all technical aspects of seg wit in order to know things about bitcoin and/or segwit and to contribute to this kind of thread from whatever level, and as a bonus, it seems to me that the OP of this thread attempts to approach this seg wit topic from a non-technical perspective. Title: Re: What is actually use of SegWit? Post by: JayJuanGee on December 02, 2016, 04:17:52 PM @Temp_JayJuanGee, You basically admitted you don't know jack , so you have no information to actually talk about except your little soap opera attacks, which are devoid of everything except your feelings. I could give a rat's ass about your feelings. If you want to argue a technical point then post it, but keep throwing out those whiny I feel attacks, and you keep getting more of the same, because that is all they deserve in response. Your call. 8) You are probably correct that it is not necessary for me to attempt to engage with you on this topic, and I think that I already stated my reasons and you stated your reasons and we seem to disagree about things. By the way, even though you seem inclined to want to disqualify me from this topic, it does not seem to be necessary to know all technical aspects of seg wit in order to know things about bitcoin and/or segwit and to contribute to this kind of thread from whatever level, and as a bonus, it seems to me that the OP of this thread attempts to approach this seg wit topic from a non-technical perspective. And, regular JJG agrees with my other self Temp JJG. hahahahaha :D ;) I don't plan to use Temp JJG anymore, unless for some reason my regular account gets compromised again. Title: Re: What is actually use of SegWit? Post by: RawDog on December 04, 2016, 04:56:33 AM To anyone actually wanting to know more about Segwit, read the 1st page of this topic and make up your own minds. Miners do whatever GMax tells them to do.These guys on the 2nd page , pure waste of my time. ;) 8) FYI: In the end the Miners will determine whether or not SegWit is even activated. Odds are all of these concerns over segwit & LN will be blocked by the Mining Pools anyway. |