Dishonest fraud on my Bitcointalk? It's more likely than you think!
Blockstream has nothing to do with Cobra's post, I didn't even hear about it until an /r/bitcoin mod asked me to come refute that claim. The people telling you otherwise are lying to you with a specific intention of manipulating your views.
Also, to be entirely fair, the blockstream core devs started proposing soft forks/BIPs that are necessary for LN to operate long before anyone had even heard of LN, and at a time at which the concept of anyone using any kind of "off chain" transaction would be generally considered to be "not using" bitcoin.
Huh? We learned about it at a public presentation, same as anyone else... and didn't do anything with it until after Mike Hearn publicly criticized us for not providing more support for it.
If you're thinking things came before, it's because Lightning was constructed out of things already in the development pipeline-- things which were independently useful or even necessary for the future.
Even Gregory Maxwell said the white paper is still relevant.And btcdrak as Core contributor also said that would be ridiculous.
However an updated version of what the Bitcoin network is today is a good idea imo.And this could be add as a second version beside the original white paper.
I mean the network has changed so much the last 7 years, so why not document and publish it.
The whitepaper is great and still describes the system (even with segwit!) pretty much exactly as well as it described the very first release!
... Though it didn't describe the very first release all that well, except at the highest possible level. For example, it says almost nothing about difficulty retargeting, it says nothing about the coin supply schedule, it says nothing about nlocktime or sequence numbers, it says nothing about _script_ at all, it describes a version of SPV (with alerts) that can't quite be implemented in the protocol we have today.
Of course, it says nothing about the attacks that weren't known at the time, like selfish mining-- or that a constant proportion attacker in a world with exponentially growing hashrate will eventually reorg the whole chain with probability 1.
Should it mention all these things, probably not. Some of the things it does mention are things that continually cause mistakes and confusion-- e.g. it says nodes prefer the "longest chain" but this is wrong and unworkable, the insufficiently precise statement has made academics dismiss the system as broken, and even cause the developer of a popular SPV wallet software to implement the protocol in a wrong and insecure way. Yet that could be avoided with a couple word tweak.
But even given all that, it's a remarkably clear and lucid document; which at its level of non-specificness continues to accurately describe the system... and I think it should be left alone.
But I also agree with Cobra's point was that people looking for an overview of how Bitcoin works should probably be directed to something that benefits from eight additional years of experience. Just getting rid of the @#$@ longest chain misunderstanding would itself be a big improvement.