1. User Nodes do nothing to help secure even your own Bitcoin. If a >50% "attack" or a rule change you disagree with occurs, the user node you run does nothing to secure you. In this thread, I present a hypothetical scenario. Initial Dist Chain 1 - 66.7% Chain 2 - 33.3%
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2. Here, your user node just follows as it has no ability to mine. So until the difficulty change, Chain 1 finds new blocks at a mean 15 min ave time and Chain 2 at 30 mins Where the change is not a coin divide, Chain 1 and 2 are competing on an exchange for value.
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3. So, in time, chain 2 will start to lose miners & Chain 1 will grow in hash rate and Chain 1 will wither (other than a few die hard supporters) Say in the difficulty Chain 2 drops to 1% sustained and there are a few who stay with this. There is no replay protection by default
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4 At this point, each block is discovered at a rate of 10 mins on Chain 1 and now we are on Chain 2 at an average discovery of a new block every 16- to 17 days on chain 2 with a difficulty adjustment in 646 years time. That chain has a slow withering death.
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5. But your home node with the Chain 2 software now sees Chain 2 and ignores Chain 1. So all real spending is on Chain 1 and all TXs you send can be replayed on Chain 1 and yet you are trying chain 2.
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6. Your home node basically has a flawed and incorrect version of history and you think it is real even though you have a home node. When you send or receive from those in the real chain (1) you now start to reject these are invalid (when it is even incorporated into a block)
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7. So, the end result, your home node has done nothing to help you be secure and has given you a false sense of security that leads to your losing funds at best Only miners are full nodes
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but my #UASF cap still looks cool. deal with it
#cryptoassetspic.twitter.com/4aGaqZSo98
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