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Author Topic: ToominCoin aka "Bitcoin_Classic" #R3KT  (Read 157068 times)
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exstasie
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March 29, 2016, 07:43:29 PM
 #1401

and no one is disputing "Blockstream having so many Core developers"

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Out of 94 contributors to the last release, I count 7 -- that's right, 7 -- people employed by Blockstream. The Lead Maintainer of the repository -- if that were an issue -- is not.

See the release notes for 0.12 here: https://bitcoin.org/en/release/v0.12.0

I'll do you a favor and bold the Blockstream employees, including a few that you probably don't know:

accraze Adam Weiss Alex Morcos Alex van der Peet AlSzacrel Altoidnerd Andriy Voskoboinyk antonio-fr Arne Brutschy Ashley Holman Bob McElrath Braydon Fuller BtcDrak Casey Rodarmor centaur1 Chris Kleeschulte Christian Decker Cory Fields daniel Daniel Cousens Daniel Kraft David Hill dexX7 Diego Viola Elias Rohrer Eric Lombrozo Erik Mossberg Esteban Ordano EthanHeilman Florian Schmaus Forrest Voight Gavin Andresen Gregory Maxwell Gregory Sanders / instagibbs Ian T Irving Ruan Jacob Welsh James O’Beirne Jeff Garzik Johnathan Corgan Jonas Schnelli Jonathan Cross João Barbosa Jorge Timón Josh Lehan J Ross Nicoll kazcw Kevin Cooper lpescher Luke Dashjr Marco MarcoFalke Mark Friedenbach Matt Matt Bogosian Matt Corallo Matt Quinn Micha Michael Michael Ford / fanquake Midnight Magic Mitchell Cash mrbandrews mruddy Nick Patrick Strateman Paul Georgiou Paul Rabahy Pavel Janík / paveljanik Pavel Vasin Pavol Rusnak Peter Josling Peter Todd Philip Kaufmann Pieter Wuille ptschip randy-waterhouse rion Ross Nicoll Ryan Havar Shaul Kfir Simon Males Stephen Suhas Daftuar tailsjoin Thomas Kerin Tom Harding tulip unsystemizer Veres Lajos Wladimir J. van der Laan xor-freenet Zak Wilcox zathras-crypto
https://www.reddit.com/r/btc/comments/4asyc9/collaboration_requires_communication/d166ec0

Suggestions that Blockstream controls Core are disingenuous and out of touch with reality.

Therefore, if segwit does not achieve 95% or whatever is the level needed, then the old system will continue to carry out.  

Unless, of course, some other client amasses its activation threshold (e.g. Classic @ 75%).

Very true, the old Bitcoin , would definitely need to make big changes to bitcoin core if classic miners controlled over 75% hashing power. Personally, I have enough problems with the direction of the Classic Scaling roadmap that I would support these changes and stay on the original/different chain regardless of it leaving merchant processors and a majority of SHA256 ASIC hashing power, but I agree , either way you are right the old protocol would be dead.

Very much disagree. The only real issue is delayed difficulty readjustment and longer confirmations. This could easily be patched in an emergency (code is ready).

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March 29, 2016, 07:53:26 PM
 #1402

Very much disagree. The only real issue is delayed difficulty readjustment and longer confirmations. This could easily be patched in an emergency (code is ready).

There is good evidence that Classic Supporters will go to great lengths to attack the network and lie to those that oppose them. One should expect a 51 % attack if one only has 5-25% of hashing power in this contentious environment. In such a scenario I would not be so naive to trust the network without a change to the consensus algo that would secure against a 51% attack. In such a scenario I would slowly sell off my new classic coins(all of them ) for maximum amounts of new core?- coins .  (Because I am not petty or spiteful and have no wish to attack the classic chain like Hearn attacked us all in his ragequit) . I would be open to multiple solutions but one that appears to be interesting was one proposed By Greg when Litecoin was about to roll out ASICs to make a coin that would be ASIC proof and likely remain GPU only, thus achieving better decentralization of mining and remain largely botnet proof.

https://bitcointalk.org/index.php?topic=359323.0

I don't expect any of this to occur , but would definitely avoid following the majority of classic mining power even if it meant I risked losing out on a fast adoption of a coin going mainstream because I am more interested in the health of the ecosystem in the long term.
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March 29, 2016, 08:12:33 PM
 #1403

Therefore, if segwit does not achieve 95% or whatever is the level needed, then the old system will continue to carry out. 

Unless, of course, some other client amasses its activation threshold (e.g. Classic @ 75%).

Yes...  I agree that a client with changes in Bitcoin's governance built-into the language seems to be an alternative scenario that could arise out of the ashes and lead to a lower threshold in the governance... . .and it seems that is what Classic - and even XT were geared towards achieving, no?

Now, that several people have identified that change in governance ploy (and recognized the debilitating nature of such a ploy), how likely would this be in taking place within the next 12 months?  Less than 5%, no?  Maybe you have better information than me regarding this point and probabilities of such occurring?

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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March 29, 2016, 08:23:18 PM
 #1404

Very much disagree. The only real issue is delayed difficulty readjustment and longer confirmations. This could easily be patched in an emergency (code is ready).

There is good evidence that Classic Supporters will go to great lengths to attack the network and lie to those that oppose them. One should expect a 51 % attack if one only has 5-25% of hashing power in this contentious environment. In such a scenario I would not be so naive to trust the network without a change to the consensus algo that would secure against a 51% attack. In such a scenario I would slowly sell off my new classic coins(all of them ) for maximum amounts of new core?- coins .  (Because I am not petty or spiteful and have no wish to attack the classic chain like Hearn attacked us all in his ragequit) . I would be open to multiple solutions but one that appears to be interesting was one proposed By Greg when Litecoin was about to roll out ASICs to make a coin that would be ASIC proof and likely remain GPU only, thus achieving better decentralization of mining and remain largely botnet proof.

https://bitcointalk.org/index.php?topic=359323.0

I don't expect any of this to occur , but would definitely avoid following the majority of classic mining power even if it meant I risked losing out on a fast adoption of a coin going mainstream because I am more interested in the health of the ecosystem in the long term.

An algo change could be warranted, but to assume so would make a lot of assumptions about the proportion of miners. It's really not clear in game theory sense that a 75% miner majority would necessarily lead to a mid or long term mining majority remaining on Classic--or even a significant majority at fork time. That would require that users install Classic's software; if they by and large don't, miners will leave the economically dead chain. It would also require that the 71% share of hash power (i.e. lucky run) required to trigger the rule change does not decrease as the fork approaches. There are reasons it might:

Miners are working with incomplete information about what users, nodes, developers and industry players want, so they may trigger the fork then backtrack. Miners remaining on the minority chain will increase their relative hash power (therefore block rewards) by a factor of the % of defecting miners, incentivizing some to leave the majority at the risk of increased rewards if their determination is correct. The contention that a 75% majority must result in 100% consensus is based on nothing. If the fallacious bandwagon arguments claiming it as a truism fail (i.e. 71% triggers rule change but the rest of miners do not follow as fork approaches)--will none of the defecting miners switch back to the old rules? Once it becomes clear that the "inevitable victory" claims were untrue? If it is very obvious to miners that consensus won't be reached within the 28-day pre-fork period, some may opt to reject the change.

We should not be limiting this analysis to a situation where only 0-25% relative hash power exists on the 1MB chain. That is being far too generous to Classic and their supporters.

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March 29, 2016, 08:31:05 PM
 #1405



An algo change could be warranted, but to assume so would make a lot of assumptions about the proportion of miners. It's really not clear in game theory sense that a 75% miner majority would necessarily lead to a mid or long term mining majority remaining on Classic--or even a significant majority at fork time. That would require that users install Classic's software; if they by and large don't, miners will leave the economically dead chain. It would also require that the 71% share of hash power (i.e. lucky run) required to trigger the rule change does not decrease as the fork approaches. There are reasons it might:

Miners are working with incomplete information about what users, nodes, developers and industry players want, so they may trigger the fork then backtrack. Miners remaining on the minority chain will increase their relative hash power (therefore block rewards) by a factor of the % of defecting miners, incentivizing some to leave the majority at the risk of increased rewards if their determination is correct. The contention that a 75% majority must result in 100% consensus is based on nothing. If the fallacious bandwagon arguments claiming it as a truism fail (i.e. 71% triggers rule change but the rest of miners do not follow as fork approaches)--will none of the defecting miners switch back to the old rules? Once it becomes clear that the "inevitable victory" claims were untrue? If it is very obvious to miners that consensus won't be reached within the 28-day pre-fork period, some may opt to reject the change.

We should not be limiting this analysis to a situation where only 0-25% relative hash power exists on the 1MB chain. That is being far too generous to Classic and their supporters.

I agree there would be a lot of confusion during the 28 day window and couple weeks after as well and the scenarios you describe could play out. The point is that during the week to 2 after the 28 day grace period and if activation occurs I will not trust the confirmations and reframe from performing any tx's . This another reason why a contentious HF with a low threshold is so dangerous because a sizable amount of the community will be cautious like me and the Bitcoin ecosystem will slowdown to a halt with fear of the ambiguity and being on the wrong chain. I simply wont trust either change until either security measures were put in place or I was on the chain with a majority of the hashing power.

The combination of fear and uncertainty and knowledge that part of the community will fork off would certainly cause a massive price crash, which is unfortunate for many but not something we can control, because although I do not agree with the classic roadmap I support their right to fork off at any given moment and for whatever reason they choose to and at any threshold they desire.

Unlike some who indicate a willingness to follow the majority of miners regardless of the outcome, I refuse to do this  because I am more interested in the ideas , technology and long term health than making a quick buck from a quick mainstream adoption (This isn't guaranteed with the classic roadmap and those large blocks might be filled up with spam from a few businesses rather than many knew users).
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March 29, 2016, 08:47:07 PM
 #1406



An algo change could be warranted, but to assume so would make a lot of assumptions about the proportion of miners. It's really not clear in game theory sense that a 75% miner majority would necessarily lead to a mid or long term mining majority remaining on Classic--or even a significant majority at fork time. That would require that users install Classic's software; if they by and large don't, miners will leave the economically dead chain. It would also require that the 71% share of hash power (i.e. lucky run) required to trigger the rule change does not decrease as the fork approaches. There are reasons it might:

Miners are working with incomplete information about what users, nodes, developers and industry players want, so they may trigger the fork then backtrack. Miners remaining on the minority chain will increase their relative hash power (therefore block rewards) by a factor of the % of defecting miners, incentivizing some to leave the majority at the risk of increased rewards if their determination is correct. The contention that a 75% majority must result in 100% consensus is based on nothing. If the fallacious bandwagon arguments claiming it as a truism fail (i.e. 71% triggers rule change but the rest of miners do not follow as fork approaches)--will none of the defecting miners switch back to the old rules? Once it becomes clear that the "inevitable victory" claims were untrue? If it is very obvious to miners that consensus won't be reached within the 28-day pre-fork period, some may opt to reject the change.

We should not be limiting this analysis to a situation where only 0-25% relative hash power exists on the 1MB chain. That is being far too generous to Classic and their supporters.

I agree there would be a lot of confusion during the 28 day window and couple weeks after as well and the scenarios you describe could play out. The point is that during the week to 2 after the 28 day grace period and if activation occurs I will not trust the confirmations and reframe from performing any tx's . This another reason why a contentious HF with a low threshold is so dangerous because a sizable amount of the community will be cautious like me and the Bitcoin ecosystem will slowdown to a halt with fear of the ambiguity and being on the wrong chain. I simply wont trust either change until either security measures were put in place or I was on the chain with a majority of the hashing power.

The combination of fear and uncertainty and knowledge that a large amount of the community will fork off would certainly cause a massive price crash, which is unfortunate for many but not something we can control, because although I do not agree with the classic roadmap I support their right to fork off at any given moment and for whatever reason they choose to and at any threshold they desire.

Generally agree. Frankly I'd prefer they fork off now (or rather, 3 months ago), rather than acting as a perpetual plague on the bitcoin community. Indeed, the only thing we holders can do is avoid tainting the validity of our coins (well, we can double spend on the opposing chain--assuming one understands how to properly mix inputs to ensure the transaction is rejected on one, but not both chains). And this will slow down the economy to be sure. Though I have to wonder how much of the bitcoin economy would continue on without even noticing the fork--particularly lite/SPV users. Price crash would definitely be expected, and for good reason. Nobody would care about an altcoin splitting off.....but on top of a massive disinformation campaign claiming that a 75% miner attack dictates the economic consensus, it might appear that bitcoin's fundamental control on fraud and theft (rule enforcement) is broken.


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March 29, 2016, 09:08:23 PM
 #1407

If anyone asks me how Bitcoin works (lol, like that actually happened IRL to anyone ever), I'll just direct them to this thread Cheesy

Oh yes, here's the comittee of truth. Adam surrounded by four-six people hammering the one and only truth in his head ... BIG BLOCKS ARE EVIL! CORE IS OUR HOLY MASTER! CLASSIC IS THE ANTI-CORE!

And hey, my bank buddy is in this thread too, and it makes him lucky. Why? First because he learned that bitcoin's new holy mantra is that IT CANNNOT SCALE. So he is sure bank will stay in power. Second because - I think you know Smiley

And yeah, this is one kind of the news my bank buddy makes happy: http://www.coindesk.com/blockstream-10-new-firms-hyperledger-blockchain-project/ -- the company that says bitcoin can not scale helps the banks and other companies to build the blockchain that can scale.

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March 29, 2016, 09:16:50 PM
 #1408

Frankly I'd prefer they fork off now (or rather, 3 months ago), rather than acting as a perpetual plague on the bitcoin community.

For me, a perpetual propaganda plague is the best thing they could have done: the longer it goes on, the more apparent that the genuine truth becomes. Especially because of the long list of empty threats that the coup supporters have issued (Gavin Andresen did most of the threatening, and lets be honest, it's not very intimidating); empty threats that were never doled out.

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March 29, 2016, 09:25:16 PM
 #1409

Quote
and the new segwit softfork method demonstrated that you can change anything (including 21m coin supply)
That is also not true. You could create some kind of colored coin and try to convince people to accept it as "bitcoin" even without any soft-fork, but no soft-fork can increase the supply of actual Bitcoins.
That puts the end to that foolish story. They've been trying to find ways of attacking Segwit by spreading a lot of different misinformation.

Suggestions that Blockstream controls Core are disingenuous and out of touch with reality.
It is just baseless propaganda and ad hominem against people who are much more intelligent and skilled than the entities that are trying to attack them. Maxwell gave up commit access so that they would complain less, but nothing has changed. The lesson learned here is that one should never give in to such people.


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March 29, 2016, 09:28:33 PM
 #1410

Frankly I'd prefer they fork off now (or rather, 3 months ago), rather than acting as a perpetual plague on the bitcoin community.

For me, a perpetual propaganda plague is the best thing they could have done: the longer it goes on, the more apparent that the genuine truth becomes. Especially because of the long list of empty threats that the coup supporters have issued (Gavin Andresen did most of the threatening, and lets be honest, it's not very intimidating); empty threats that were never doled out.

Interesting perspective. The real threats and rage quits and attacks have likely created a temporary price depression, as of which I am perfectly fine with buying into. The spam attacks, including the current variation that is focusing on filling blocks with many inputs to fill up space -



Have caused a bit of chaos but have been very valuable in testing dynamic fees and wallets implementations of their solutions. (More work still needs to be done here. )

I do agree with you that these attacks will be perpetual, and that is a good thing because it will harden and test the network and is a sign that there is true interest.(better than being ignored).

It will be interesting to see what this evolves into as I can see classic becoming more unfeasible when segwit rolls out (and petty attempts to delay or block it by classic supporters will certainly backfire on them) .

I actually expect attacks to heighten, in late 2016 and 2017 as more block chain companies come online and we have the potential for a country or two to ragequit and outlaw bitcoin when they go through an economic crisis.
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March 29, 2016, 09:29:53 PM
 #1411

If anyone asks me how Bitcoin works (lol, like that actually happened IRL to anyone ever), I'll just direct them to this thread Cheesy

Oh yes, here's the comittee of truth. Adam surrounded by four-six people hammering the one and only truth in his head ... BIG BLOCKS ARE EVIL! CORE IS OUR HOLY MASTER! CLASSIC IS THE ANTI-CORE!

And hey, my bank buddy is in this thread too, and it makes him lucky. Why? First because he learned that bitcoin's new holy mantra is that IT CANNNOT SCALE. So he is sure bank will stay in power. Second because - I think you know Smiley

And yeah, this is one kind of the news my bank buddy makes happy: http://www.coindesk.com/blockstream-10-new-firms-hyperledger-blockchain-project/ -- the company that says bitcoin can not scale helps the banks and other companies to build the blockchain that can scale.

Hm... To me that says just blockstream + bitcoin is better than ETH  Grin

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March 29, 2016, 09:45:32 PM
 #1412

Frankly I'd prefer they fork off now (or rather, 3 months ago), rather than acting as a perpetual plague on the bitcoin community.

For me, a perpetual propaganda plague is the best thing they could have done: the longer it goes on, the more apparent that the genuine truth becomes. Especially because of the long list of empty threats that the coup supporters have issued (Gavin Andresen did most of the threatening, and lets be honest, it's not very intimidating); empty threats that were never doled out.

Fair enough, you are correct. I too have echoed the sentiment that these attacks have only exposed the resilience of our community. I suppose my thoughts were tinged with the frustration of perpetually feeling the need to respond to these people--even though they continue to repeat the same falsities over and over in the face of cogent refutations. Ad nauseum--never ends.

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March 29, 2016, 09:55:56 PM
Last edit: March 29, 2016, 10:26:38 PM by Carlton Banks
 #1413

The spam attacks, including the current variation that is focusing on filling blocks with many inputs to fill up space -



Have caused a bit of chaos but have been very valuable in testing dynamic fees and wallets implementations of their solutions. (More work still needs to be done here. )

The spam attacks are a curious type of hostility. From the attackers perspective, it's difficult to choose the right time to begin. They chose to spike heavily last September, but you could argue that a better tactic would have been to build up to total saturation gradually, as it would be all too easy to portray those who suspect the effect to be spam-driven as mad or unhinged. It suggests the attackers were holding off from running their spam routine, but became suddenly alarmed in September of last year for some reason. It seems strangely inept, bearing in mind that we're supposedly squaring off against the machiavelli of machiavelli's. Where was the coordination with Hearn's XT campaign? Surely they weren't so short-sighted?

I do agree with you that these attacks will be perpetual, and that is a good thing because it will harden and test the network and is a sign that there is true interest.(better than being ignored).

Absolutely, Bitcoin is the proverbial nine-lived cat Smiley Anything that demonstrates it's resolve to the public should be welcomed. And if it can be broken by that which it was designed to be resilient against, then it was all a dream anyway.

It will be interesting to see what this evolves into as I can see classic becoming more unfeasible when segwit rolls out (and petty attempts to delay or block it by classic supporters will certainly backfire on them) .

I actually expect attacks to heighten, in late 2016 and 2017 as more block chain companies come online and we have the potential for a country or two to ragequit and outlaw bitcoin when they go through an economic crisis.

Oh, but the private blockchains and the high profile ragequits can only inflate the Bitcoin effect. Even if a very one-sided media campaign really pushed against it, the continuation of the Bitcoin network's usage will only prove further that their words are backed by nothing. It can only become more relevant, especially if "Bitcoin booms while Caracas burns" headlines prevailed: smarter people will see that it's a story of two halves; one anachronistic failure and one futuristic success.

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March 29, 2016, 10:00:55 PM
 #1414



Suggestions that Blockstream controls Core are disingenuous and out of touch with reality.
It is just baseless propaganda and ad hominem against people who are much more intelligent and skilled than the entities that are trying to attack them. Maxwell gave up commit access so that they would complain less, but nothing has changed. The lesson learned here is that one should never give in to such people.



If that was the real reason that Maxwell gave up his commit access, then that is too bad. 

Sometimes there is more going on behind the scenes that contributed to the giving up of something, so sometimes rationale that is explained may not be the full story or the most logical inference based on the totality of circumstances.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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March 29, 2016, 10:01:19 PM
Last edit: March 29, 2016, 10:22:11 PM by BitUsher
 #1415

Oh, but the private blockchains and the high profile ragequits can only inflate the Bitcoin effect. Even if a very one-sided media campaign really pushed against it, the continuation of the Bitcoin network's usage will only prove further that their words are backed by nothing. It can only become more relevant, especially if "Bitcoin booms while Caracas burns" headlines prevaled: smarter people will see that it's a story of two halves; one anachronistic failure and one futuristic success.

We will be ready to capitalize on these attacks as well. We need 50 more of these memes created. Obama may become one of the biggest bitcoin promoters just like how he has been the biggest catalyst for AR-15 sales.



If that was the real reason that Maxwell gave up his commit access, then that is too bad.  

Sometimes there is more going on behind the scenes that contributed to the giving up of something, so sometimes rationale that is explained may not be the full story or the most logical inference based on the totality of circumstances.

Family/personal reasons was the reason given and its none of our business to pry more out of him. Him giving up commit access doesn't matter much as his influence isn't dominated by any special privilege but by his prolific contributions. That is a fact that escapes many classic supporters... the reason developers can "hold hostage " the miners is because the miners aren't idiots and can listen to reason and make up their own mind to agree or disagree with the developers. There is absolutely nothing stopping or holding hostage core developers from joining classic besides the fact that they understand core has a better roadmap. The fact that so many developers agree with core should be a warning sign that classic is a coup that has little technical merit. Of course many classic supporters are trying to distort the conversation by insinuating that core developers are merely adept at programming and cryptography when this isn't the case and is dehumanizing. For the most part these are all intelligent people with well rounded interests and educations in many fields including economics. I would say the same for Garzik and Gavin and even Hearn.
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March 29, 2016, 10:17:12 PM
 #1416



If that was the real reason that Maxwell gave up his commit access, then that is too bad.  

Sometimes there is more going on behind the scenes that contributed to the giving up of something, so sometimes rationale that is explained may not be the full story or the most logical inference based on the totality of circumstances.

Family/personal reasons was the reason given and its none of our business to pry more out of him. Him giving up commit access doesn't matter much as his influence isn't dominated by any special privilege but by his prolific contributions. That is a fact that escapes many classic supporters... the reason developers can "hold hostage " the miners is because the miners aren't idiots and can listen to reason and make up their own mind to agree or disagree with the developers. There is absolutely nothing stopping or holding hostage core developers from joining classic besides the fact that they understand core has a better roadmap. The fact that so many developers agree with core should be a warning sign that classic is a coup that has little technical merit. Of course many classic supporters is trying to distort the conversation by insinuating that core developers are merely adept at programming and cryptography when this isn't the case and is dehumanizing. For the most part these are all intelligent people with well rounded interests and educations in many fields including economics. I would say the same for Garzik and Gavin and even Hearn.


Thanks for that explanation.  I would hit "like" for your comment, but there is no "like" button... hahahahaa

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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March 30, 2016, 05:23:05 AM
 #1417


Softfork is also 75% trigger condition
That isn't true. A long time ago they were done with hashrate thresholds that low and it was problematic. More recent ones have been 95% hashrate.

I just checked sipa's segwit4 branch, it shows the versionbit is the new logic, but it seems incomplete here, where is that 95% support?

    // Start enforcing WITNESS rules using versionbits logic.
    if (IsWitnessEnabled(pindex->pprev, chainparams.GetConsensus())) {
        flags |= SCRIPT_VERIFY_WITNESS;
    }

Quote
and the new segwit softfork method demonstrated that you can change anything (including 21m coin supply)
That is also not true. You could create some kind of colored coin and try to convince people to accept it as "bitcoin" even without any soft-fork, but no soft-fork can increase the supply of actual Bitcoins.

Similar to witness block, you can just add another extended block called 21 block to accommodate the added 21 million coins and corresponding new transactions, and that block is also invisible to old nodes, only if you upgraded to 21segwit nodes, you will have 50 coin per block to mine, and Chinese miners might like it!


exstasie
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March 30, 2016, 05:42:22 AM
 #1418

Similar to witness block, you can just add another extended block called 21 block to accommodate the added 21 million coins and corresponding new transactions, and that block is also invisible to old nodes, only if you upgraded to 21segwit nodes, you will have 50 coin per block to mine, and Chinese miners might like it!

Valid outputs need to originate from valid coinbase transaction in valid block. Non-upgraded nodes will never confirm blocks containing tx that spend non-existent outputs ..... for the same reason they won't confirm blocks containing a 21million coin spend. Those transactions--and if mined, those blocks--are simply invalid, ignored, by old nodes. Miners don't even matter in this context. If they keep building on such a block, their chain will be forked off the network.

Unless, of course, node operators en masse uninstalled their node software and reinstalled software that recognized these outputs as valid. i.e. a hard fork.....

BitUsher
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March 30, 2016, 05:48:24 AM
 #1419


Similar to witness blocktree, you can just add another extended block tree called 21 block to accommodate the added 21 million coins and corresponding new transactions, and that block tree is also invisible to old nodes, only if you upgraded to 21segwit nodes, you will have 50 coin per block to mine, and Chinese miners might like it!



What you are suggesting is a softserve HF which differentiates from segwit's SF because with Segwit old, un-upgraded nodes will still follow consensus rules and can send and receive tx from segwit nodes, but with your suggestion the consensus rules would be broken and none of the new coins would be recognized or accepted by the old nodes.
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March 30, 2016, 06:10:20 AM
 #1420

Similar to witness block, you can just add another extended block called 21 block to accommodate the added 21 million coins and corresponding new transactions, and that block is also invisible to old nodes, only if you upgraded to 21segwit nodes, you will have 50 coin per block to mine, and Chinese miners might like it!

Valid outputs need to originate from valid coinbase transaction in valid block. Non-upgraded nodes will never confirm blocks containing tx that spend non-existent outputs ..... for the same reason they won't confirm blocks containing a 21million coin spend. Those transactions--and if mined, those blocks--are simply invalid, ignored, by old nodes. Miners don't even matter in this context. If they keep building on such a block, their chain will be forked off the network.

Unless, of course, node operators en masse uninstalled their node software and reinstalled software that recognized these outputs as valid. i.e. a hard fork.....

It does not matter what non-upgraded nodes do when majority of the blocks are 21block format, e.g. original block + 21 block, those non-upgraded nodes will just receive empty original blocks (all the new transactions are in 21 blocks and their merkle root is hashed into the coinbase transaction of the original block) and they are forced to upgrade. That's the whole point of soft fork: You can force all the original nodes out of the network since their miserable 5% hash rate will only mine one block every 200 minutes, and that block is not enough to process the transaction on original net

It does not surprise me that so many people blindly cheer for segwit soft fork while they don't understand what that means at all

Another example here:

https://www.bitcoinhk.org/bitcoin-lecture-series/episode-1-upgrading-bitcoin-segregated-witness
This Dr. made some metaphor to explain segwit, but his example how transaction works is obviously wrong. So even a Dr. who is giving lecture about segwit does not understand how bitcoin transaction works (or intentionally give misleading information?), how could the rest of the people have any idea what it is?


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