I do not feel like upgrading my core wallet. - page 2.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: franky1 on November 04, 2016, 06:18:18 AM

Quote from: achow101 on November 03, 2016, 10:13:27 PM

you will not be fully validating segwit transactions (but you will still be blindly accepting them while validating all other traditional transactions).

edited other post to be more upfront and avoid the contradiction which leads to misinterpretation

They are still validating them as best as they can. It is not just blindly accepting them, the only blind acceptance part is of the signatures for segwit inputs, but the transaction is still being validated. It still has to check that the inputs are spending non-spent outputs. It still has to check the locktime. It still checks inputs that are not segwit inputs. It still runs the script validation for the segwit input, but it simply does not know of the signatures for those inputs.

franky1

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Activity: 4410

Merit: 4766

Quote from: achow101 on November 03, 2016, 10:13:27 PM

you will not be fully validating segwit transactions (but you will still be blindly accepting them while validating all other traditional transactions).

edited other post to be more upfront and avoid the contradiction which leads to misinterpretation

CraigWrightBTC

hero member

Activity: 518

Merit: 500

Well because of i am not miner bitcoin, i think i don't too need upgrade my core wallets and i am just a traders everything about technically of bitcoins depend on my exchangers. What will do with my wallet on markets.

clickerz

hero member

Activity: 1414

Merit: 505

Backed.Finance

Quote

Re: I do not feel like upgrading my core wallet.

I feel the same and I want to observe first the feedback from forums of other users who upgrade their core wallet. I am sure there are feedback. If there are good feedback then I think it is time to do the same.

unamis76

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Activity: 1512

Merit: 1012

Quote from: achow101 on November 03, 2016, 10:13:27 PM

After 0.14 comes out, that message will change to "Alert key compromised"

So will the keys change hands? Or the failsafe code will be executed (if so, why)?

EDIT: Now I see, I guess it's because of this that the message will be displayed.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: spazzdla on November 03, 2016, 08:32:37 PM

consequences?

You'll miss out on some optimizations and improvements added since whatever version you are running. Once segwit activates, you will not be able to take advantage of it, and you will not be fully validating segwit transactions (but you will still be validating them and all other transactions).

You'll also see an annoying alert about how some unknown rules have activated and that you should upgrade.

If you run a version of Bitcoin Core earlier than 0.12.1, you'll see an alert about the alert system retirement. After 0.14 comes out, that message will change to "Alert key compromised"

franky1

legendary

Activity: 4410

Merit: 4766

your not a full validating node. and become reliant on the nodes connecting to you to validate a block before data even gets to you for you to be more sure it doesnt have iffy data or a badly constructed segwit transaction that would normally lead to it getting orphaned out. (still not perfect)

at 95% there is a 5% chance of orphaning. far greater than the usual 1-2% we see each day for the last ~8 years

if you are directly connected to a pool and cannot validate or invalidate a segwit transaction. you will blindly deem it ok and relay it on to your peers. which can lead to lot of nodes receiving data they are not suppose to get.

major downside is if the relayed block u get is from a legacy(old node) and that has a connection from a legacy node too.. all the way back to a legacy pool.. they all of you will get a potentially bad block if someone made a dodgy tx.

id suggest that you dont be directly connected to a pool but be a few hops(node connections) away so that they can do the orphaning of bad blocks. and also probably best to wait an extra couple of confirmations to be sure the network as a whole have deemed it ok

this is especially the case if you are handling alot of customer transactions where they are placing their trust in you.

spazzdla

legendary

Activity: 1722

Merit: 1000

consequences?

Topic: I do not feel like upgrading my core wallet. - page 2. (Read 924 times)