Timeline for How does Segwit prevent ASICBOOST?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jun 15, 2018 at 23:46 | comment | added | Shelby Moore III | Bitcoin will become a settlement network between whales with huge transactions with a plurality of inputs and/or outputs. Think of centralized exchanges which is what LN Mt. Box hubs will become. The on-chain transaction fees with be $50,000. Only the uber wealthy will transact on-chain and open LN channels on-chain. Everyone else will be on fractional reserve banking. That is the master plan and the only way the technology works. | |
| Jun 14, 2018 at 10:06 | comment | added | alcio | It is true that the less transactions, the overhead is lessened. However, Lightning settlement transactions don't take more space than other transactions. The coooperative case is a simple 2-of-2 multisig spend, and thousands of those happen per day already. | |
| Jun 13, 2018 at 19:18 | comment | added | Shelby Moore III | SegWit doesn’t eliminate the ability to achieve the full performance of covert ASICBOOST. Study more carefully the source you cited. If the block has only 1 or 2 transactions, then the difference in covert ASICBOOST performance is not very significant. Given Lightning Networks, we can expect the possibility of settlement transactions that can occupy an entire block. So then even blocks with only 1 or 2 transactions will not be conspicuous evidence of covert ASICBOOST. Let’s presume LN Mt.Box hubs can possibly collude with covert ASICBOOST miners. | |
| Jul 12, 2017 at 17:30 | vote | accept | Maestro | ||
| Jul 11, 2017 at 13:59 | history | answered | alcio | CC BY-SA 3.0 |