Bottom line up front:
Some of you really need to chill out. The Blockstream propaganda of "Cobra is evil!" really has you totally duped.
In my experience, the moment that I hear the phrase “Blockstream propaganda”, I know that I am speaking to an idiot. It’s a kind of shibboleth for those who believe everything that they read on /r/btc.
Ultimately, what has actively stopped BCH from winning the public-relations mindshare war is that an unorganized, decentralized cadre of Bitcoiners who have pushed back unequivocally. This set very visibly includes Greg Maxwell, and also his former colleagues at Blockstream—Dr. Back, et al. It very visibly includes laanwj and harding, whom Lauda mentioned. It very visibly does not include you, the exclusive controller of bitcoin-dot-org.
Bitcoin Cash had no chance of ever getting called "Bitcoin" on major consumer services like Coinbase and wallets and payment rails. [...] At best, Bitcoin Cash might have confused and tricked a few people [...] There was no need for me to fight against Bitcoin Cash, because it clearly posed no risk to Bitcoin.
WTF, were you now around in September–November 2017? All that talk about “the flippening” may seem like a sick joke now; but at the time, it did not seem so.
I myself will never forget the day of 12 November 2017. I was fucking glued to the computer screen all day as our hashrate plummeted—I think that at some point, Slushpool alone was something like 70% of our hashrate, which is really bad. Block generation slowed to a crawl, mempools backed up to hell, and meanwhile, all the Btrashers were on social media prematurely gloating about their victory as BCH prices spiked something like 300% in about 12 hours on FOMO rush—for before the
dump, first comes the
pump...
(Details thereby are recounted off the top of my head, subject to the lability of human memory.)Of course, what ultimately happened is that even the worst bad actors in mining had to come crawling back to Bitcoin if they wanted to pay their electric bills, the BCH price crashed as quickly as it had spiked, FOMO sheep got fleeced, and Bitcoin moved on. But that would not have happened if fewer Bitcoiners had my attitude, and more Bitcoiners had your attitude. If the economic majority had your way of thinking, Bitcoin would have been “flippened” out of existence; and its replacement would have been pwned by Jihan & Co. as a centrally managed shitcoin, with no alternatives remaining.
The attempts I fought against would have been presented as "Bitcoin" had they succeeded.
What part of “X and Y would both have been very bad” is difficult to understand?
To anyone with technical expertise, their self-evident agenda is, “Don’t trust us: Keep Bitcoin trustless.” I like that: Keep down the blocksize so that ordinary people can keep running nodes (I say this with real-world experience needing to run Bitcoin on inexpensive hardware), and promote Lightning as the future of scaling and privacy. For as long as that remains the agenda demonstrated by their actions and their code (not merely their words), I will continue to defend Blockstream’s reputation in public discussions.
For a company's who's motto is "don't trust, verify", all their products require quite a bit of trust. Let's go through and evaluate:
- [— A selection of three items, suspiciously excluding how Dr. Back, et al. have apparently bet the future of the company on the Lightning Network. —]
Interesting, the part that you ignored there. Well, let us take the three that you did list one by one:
- Blockstream Satellite: A service that broadcasts the Bitcoin blockchain to the entire world with the aim of reducing Bitcoin's dependency on internet access. It isn't hard to see where things fall apart here. First, you can't obviously do an initial sync from a satellite, it just broadcasts the latest blocks. Secondly, if you run the satellite receiver, you are putting all your faith in Blockstream's uplink to give you the right blocks. Should you find yourself in a situation with no internet, and only a satellite, you are blindly putting faith in Blockstream's version of the Bitcoin blockchain. It's even worse than running an SPV node, [color=yellow,2,100]Blockstream is basically sybil attacking you.[/glow] At any time they can just choose to stop sending you new blocks and you're shit out of luck.
As a security expert, I can attest that you have no idea what a Sybil attack is. How does Blockstream Satellite generate unbounded numbers of sockpuppet identities using cheap identifiers to overwhelm your view of the network?
I myself love the concept of Blockstream Satellite because, if used properly, it can give a 100% anonymous (receipt of broadcast radio waves with <$100 in commonly-available hardware) view of the blockchain that is immune to
targeted attacks, and
is probably more reliable on average than an anonymous peer randomly selected from a network currently infested with actual Sybil nodes.
When combined with the P2P network, I think that Blockstream Satellite adds a safety check against
eclipse attacks. Although that is not their primary advertised use case, I myself think it is a good use case.
For those with very limited Internet connections, receiving blocks through Blockstream Satellite and then checking the block hashes against those observed on the P2P network would give all the security of the P2P network, and would
not in any way be comparable to SPV. I have not configured it this way, and I admit I don’t know off the top of my head exactly the magic to make Core do this; but if I were consulting for someone with limited Internet access, it is the first thing that I would look into. The first thing that I would check is if Blockstream has already done the hard work here...
Core independently validates the blocks that you would be receiving through Blockstream; and if the chain you’re being fed by them does not match the hashes of whatever your P2P peers are advertising as their best chain tips, Blockstream has no way of stopping you from downloading the other blocks from the Internet, and immediately figuring out that Blockstream is trying to mislead you.
If Blockstream were to
broadcast bad blocks worldwide through a system that by its nature cannot target users, it would be an excellent means for them to out themselves as totally corrupt and worthy of universal hatred.
- Blockstream Green: Claims to be a simple and secure Bitcoin wallet. It isn't simple, nor secure. It uses 2-of-2 multi-sig, between you and Blockstreams' server. All transactions you do require Blockstream's signature. If their server goes down, you can't do any transactions, since they can't sign off on it. All your amounts are co-owned by Blockstream. It's even worse than running an SPV wallet. Because they sign all your transactions, they can also see all your transactions, and your IP addresses, destroying your privacy.
I have not evaluated Blockstream Green, nor was I familiar with its predecessor GreenAddress; so I can’t speak to this.
- Blockstream's Liquid sidechain: A federated sidechain that lets you do faster transactions and apparently gives you privacy. Here, users are asked to hand over their BTC to a federation, so that it can become L-BTC, the federation can literally steal all your bitcoins and block any transactions you make. They tried to market it as "trustless", until one of their own co-founders called them out on it: https://twitter.com/TheBlueMatt/status/1060101587584991233.
So, bluematt flamed them for an advertisement that damn well deserved it. His twitter bio still proudly lists him as Blockstream co-founder. Call me when he starts tweeting about “Blockstream propaganda”.
I don’t (and can’t) transact on Liquid. Insofar as I have looked into it, it seems to be primarily a way for non-Bitcoin assets to be managed. Call me if Blockstream starts to position it as a replacement for Bitcoin, or otherwise as a competitor to Bitcoin.
They present themselves as in support of trustless solutions, but everything they put out there is inevitably worse than the very stuff they used to criticize so much.
Such as Lightning Network? Most of what I know directly about Blockstream’s current market position comes from my following (in various degrees)
c-lightning and related
Elements Project work on Lightning integration with everything from
shopping carts to
tipjars to
pay-per-call Web APIs.
https://github.com/ElementsProject/lightning/blob/master/CHANGELOG.mdMerited by nullius (100)Human beings know how to build correct, reliable computing machines. I’ve read of fully redundant systems which could lose a CPU any time without blinking, capability-based research systems, etc., etc.... But all that is too expensive, plus too slow to bring to market. People want their Dancing Pigs and their Cryptokitties. Thus, we get everywhere the computing equivalent of Ethereum. Who wants to wait for research like Simplicity before running a hot new ICO?
If you are interested in smart contracts, you may appreciate a peek at current R&D which
may potentially someday become the future of Bitcoin smart contracts:
Simplicity (PDF). Powerfully expressive smart contracts written with in a formally verifiable DSL, running on a formally verified VM, would have none of the exploding clown car disasters inevitably resulting from the stupidity of bolting a Turing-complete VM onto a blockchain.
...if we want to discuss yet another object lesson on why Bitcoin should never, ever have a Turing-complete script. For that reason, Bitcoin has
something better in the pipeline. It will have properties which can be proved against DAO-style “oopsies” and mass-loss “hacker deleted the library” bugs; and it will never let the network be DOSed by prolifically fecund, evilly cute
kittens. It will be pure, powerful
Simplicity (PDF).
Well, either that—or if we want to make fun of Ethereum and its latest woes. Hahaha! That is on-topic
anywhere, in my engineering opinion.
(Oh, and libwally is little bundle of joy. I say that based on having read the code, not based on the name of the company who published it. I have been planning that if/when I dust off some of my little Bitcoin utilities on Github, I should probably use libwally to replace my own address-wrangling and BIP32-derivation code. It’s a small thing in the big picture, but nevertheless worth mention in small text.)Of the Blockstream goodies that I just described, all of which you somehow forgot to mention, what doesn’t push trustlessness and decentralization?
~
Would I be right in assuming it's not the
existence of forkcoins you oppose, but rather just the false advertising part to sucker in new users? Because I'd argue that being opposed to forks unconditionally simply isn't practical.
I actually do oppose forks almost categorically. I began to write a long essay on that, which perhaps I may finish later and post somewhere... The nutshell version is that:
If people vehemently want to incorporate ideas into Bitcoin that are fundamentally incompatible with its underlying principles, do we really want them to stick around forever, still desperately trying to inflict their delusions on the Bitcoin protocol? Surely it's better to excrete such toxins? It's never "dilution" to release waste.
Indeed, you are right. But without fallacious overextension, the same analogy works perfectly well for observing that excreted toxins are just that: Shit (or shitcoins) which are dead weight to be flushed down the sewer.
It is not exactly a ringing endorsement of forks. :-)
Long post by Jay came in while I was writing my long post. Will catch up soon.