This rule is provably not useful for big enough payments (N txs), @eiaine.https://twitter.com/fnietom/status/1118973616400535557?s=21 …
-
Bitcoin protocol is enforced by people that use and validate the bitcoins they receive. When you talk about a long period re-org, that's a man-made attack. I personally would refuse to follow that chain and pay fees only to the miners that work on the legacy chain.
In other words, you would fork. Others wouldn't. The result would be a disaster encouraged by this soothing nonsense. To claim that this is a great way to secure large transactions, so don't worry rely on that 100,000 BTC you just received afte just a few confirms, is ludicrous.
-
-
1. Yes this would mean a fork. But that would mean that economic actors (exchanges, companies, users) would have to decide which chain is the correct one and people would sell/buy the coins that are relevant for them as Bitcoin.
-
It's a disaster, not a security protocol. And txs aren't just a theory any more, they are starting to happen. Are you really going to put Bitcoin's reliability on the line for the sake of soothing some ultra-whale? "Go ahead screw BTC with a big tx, we'll bail you out."
- 6 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.