Nick Szabo  🔑

.@NickSzabo4 @TheBlueMatt Bitcoin is an economic incentive system, miners will do what makes profit. relayNet clearly better than SPV mining

cant unpublish relayNet & even if we could, makes Bitcoin security worse, because Miners may SPV mine instead. SPV mining caused 4 jul fork.

Bitcoin assumes a reliable broadcast channel efficient enough for negligible orphan rate from ratio of broadcast to block interval.

different channels over different physical links improve reliability of broadcast channel. reduces DoS, TCP hijack & router hack risk.

miners should also hide their broadcast network inputs, and use different block announce links, secure their routers, servers from attack.

that there is profit advantage motivating unvalidated mining shows network thruput / security tradeoff is already stressed & needs work.

connects with http://scalingbitcoin.org  (which block-size is a small part of). @NickSzabo4 is correct about computer science, hence workshop.

@adam3us Bitcoin is not trustless. Miners are collectively trusted fiduciaries: requires less trust in any particular one.