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NickSzabo4's profile
Nick Szabo 🔑
Nick Szabo 🔑
Nick Szabo  🔑
@NickSzabo4

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Nick Szabo  🔑

@NickSzabo4

Blockchain, cryptocurrency, and smart contracts pioneer. (RT/Fav/Follow does not imply endorsement). Blog: http://unenumerated.blogspot.com 

Joined June 2014

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    1. Vandelay BTC Industries‏ @Karalhoin 17 Aug 2018
      • Report Tweet
      Replying to @pwuille @Xentagz @Cypherm0nk

      Even if you don't use them to transact, doesn't the fact that you have a full node increase the network security by itself? (as it's validating/sharing)?

      3 replies 0 retweets 3 likes
    2. Pieter Wuille‏ @pwuille 17 Aug 2018
      • Report Tweet
      Replying to @Karalhoin @Xentagz @Cypherm0nk

      In theory, yes. If there was a shortage of reachable nodes on the network, or a shortage of nodes willing to provide the chain for bootstrapping to others, or a shortage of nodes able to quickly relay transactions. None of these services have been in shortage for years, though.

      2 replies 1 retweet 25 likes
    3. Crypto Martinez  ⚡‏ @eumartinez20 17 Aug 2018
      • Report Tweet
      Replying to @pwuille @Karalhoin and

      It cant hurt 😀 Besides, what about relaying, shunning, S2X and UASF? 🤔

      1 reply 0 retweets 0 likes
    4. Eric Voskuil‏ @evoskuil 17 Aug 2018
      • Report Tweet
      Replying to @eumartinez20 @pwuille and

      The shunning by non-economic nodes is irrelevant as it has no force behind it.

      1 reply 1 retweet 7 likes
    5. Crypto Martinez  ⚡‏ @eumartinez20 17 Aug 2018
      • Report Tweet
      Replying to @evoskuil @pwuille and

      Not if enough nodes do! So the others good? 😀

      2 replies 0 retweets 0 likes
    6. Pieter Wuille‏ @pwuille 17 Aug 2018
      • Report Tweet
      Replying to @eumartinez20 @evoskuil and

      Q: How many full nodes is enough? A: One, our own. I guess to some extent, if you really can't run one yourself, you'd rather have many independent parties depend on full nodes with rules compatible with the rules you want. But really, you should use your own.

      9 replies 37 retweets 123 likes
    7. Nick Szabo  🔑‏ @NickSzabo4 17 Aug 2018
      • Report Tweet
      Replying to @pwuille @eumartinez20 and

      One's own full node is far more trust-minimized than an SPV node, but an SPV node that depends on the consensus of 100s of jurisdictionally diverse full nodes of others still involves much less trust than PayPal. I favor former but "might as well run PayPal" ill describes latter.

      5 replies 5 retweets 72 likes
    8. ᴅɪꜱᴛʀɪʙᴜᴛᴇᴅ ʙɪᴛ  ⛓️ 💵‏ @distributedbit 17 Aug 2018
      • Report Tweet
      Replying to @NickSzabo4 @pwuille and

      Running a full node really only allows you to know if the chain is being 51% attacked. It doesn't actually make you any less vulnerable to such attacks (FNs are still vulnerable to double spend attacks/re-orgs). The security of both spv and full nodes relies on >50% being honest.

      3 replies 0 retweets 2 likes
    9. Nick Szabo  🔑‏ @NickSzabo4 17 Aug 2018
      • Report Tweet
      Replying to @distributedbit @pwuille and

      Knowing makes you less vulnerable if you have the capability to respond, e.g. by finding other correct nodes and maintaining your own un-attacked fork.

      3 replies 0 retweets 8 likes
    10. Richard Myers  ⚡ 🕸️ 📻‏ @remyers_ 17 Aug 2018
      • Report Tweet
      Replying to @NickSzabo4 @distributedbit and

      It's also important if you're accepting payments to know about 51% attacks so you can quickly suspend confirmations until the attack ends. Right?

      1 reply 0 retweets 2 likes
      Nick Szabo  🔑‏ @NickSzabo4 17 Aug 2018
      • Report Tweet
      Replying to @remyers_ @distributedbit and

      Yes.

      11:52 PM - 17 Aug 2018
      • 2 Likes
      • ᴅɪꜱᴛʀɪʙᴜᴛᴇᴅ ʙɪᴛ ⛓️💵 Richard Myers ⚡🕸️📻
      0 replies 0 retweets 2 likes

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