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Topic: SegWit, are we sure about this? - page 2. (Read 1575 times)

legendary
Activity: 4424
Merit: 4794
November 16, 2016, 02:19:05 PM
#14
Does SegWit introduce known vulnerabilities? I imagine we can loosely say "maybe" for any change, but is there a pretty concrete risk associated with its code? Or are these just residual, vague concerns despite the peer review and testing to date?

oh you do know that 0.13.1 (released) is not fully segwit active. you will be required to download yet another version when active to actually use a segwit wallet features.

and then...

changing your funds from lagacy keypairs to new HD segwit compatible seeded addresses has risks
eg exchange/merchants needing to replace everyones deposit addresses and reaudit funds

changes to RPC calls has risks

this is why i laugh when people are screaming to just run segwit on mainnet and "trust" the devs have reviewed it. though only as an altcoin (testnet/segnet) not as a bitcoin mainnet node

dont expect smart people to run it blindly. they will all do independant tests. move funds, audit funds warn customers of different deposit addresses..

in short dont expect anything to change by christmas, or expect ~4500 instead of ~2500 transaction before spring.. well lets call it summer before anything actually starts to be noticable
legendary
Activity: 1708
Merit: 1036
November 16, 2016, 02:02:24 PM
#13
Does SegWit introduce known vulnerabilities? I imagine we can loosely say "maybe" for any change, but is there a pretty concrete risk associated with its code? Or are these just residual, vague concerns despite the peer review and testing to date?
legendary
Activity: 4424
Merit: 4794
November 16, 2016, 02:00:00 PM
#12

he's reading from a script. not speaking from his heart.
like someone is telling him what to say.



now lets see gmaxwell talk about his companies agenda when someone mentions bitcoin having a dictating leader.
https://www.youtube.com/watch?v=-SeHNXdJCtE

"for wallet behavior, clients non normative stuff, yes sure go fork, please go fork, stop bothering me." (context of the community wanting him to join consensus, and him saying no)

"we are vulnerable to people wanting to jam bitcoin, either traditional money system or another cryptocurrency system" (context of dictatorship control)

and ofcourse gmaxwell loves his altcoins(monero) aswell as being paid to make hyperledger(bankers cryptocurrency system) and being part of the group that owns bitcoincore, bitcoinj XT, knots green address, bloq and many more bitcoin wallets



when the horses mouth(maxwell) is telling you that if you want change that is not dictated by those paid by bankers, requires forking off to an altcoin to get momentum.. you start to see the problem
What you are describing is what I and others call a bilaterial hardfork-- where both sides reject the other.
I tried to convince the authors of BIP101 to make their proposal bilateral

bitcoins single most best security feature is not the blockchain or PoW. its consensus.
the funny thing is gmawell hates consensus in bitcoin but loves it and concentrating on in in hyperledger
the funny thing is gmawell hates dymantic blocksize in bitcoin but loves it and concentrating on in in monero

funny how he pretends to say it keeps him up at night(context of banker takeover). yet he could always resign from blockstream and stop playing with altcoins and just do something positive for the bitcoin community. but im guessing he sleeps like a comforted baby and to use his words is looking forward to "the experiment failing".

he has lost all care for bitcoin and is happy in the banker camp of hyperledger who are slowly taking over and gaining ground with having ownership of well over 51% of code


as for segwit. its november 16th and after core said it needs 18 months for any other big thing to beactivated.. core are saying segwit by christmas. with code only pblicly usable ON BITCOINS MAINNET!! for a couple weeks.

as for the malleability fix.
does it fix double spends. nope. RBF, CPFP now allows double spends
did it ever have an issue for LN. nope because LN is a dual signing process. so a tx cannot just be manipulated after broadcast to then override the first tx. due to it needing second party signing on the second manipulated tx. thus the dual signing alone countered that.

as for linear/quadratic fix.
is there ever a need to have 1000 signatures in one tx? um no.. so limiting sigops could have solved it.

as for the 2mb debate.
is setwit preventing bloat to be well under 2mb. nope. it can go upto 4mb due to enough buffer space for payment codes and other features. BUT still hindering the transaction capacity growth.
yep 1.8mb block for ~4500 is the new expectation. the other 2.3mb buffer is for mondane non transaction capacity bloat features like confidential payment codes and mundate data to pair to a hyperledger sidechain
hero member
Activity: 1246
Merit: 588
November 16, 2016, 01:36:18 PM
#11
I don't fully understand segwit but i could probably tell that it is good. Since we can simply monitor our outgoing transcations from the id and base on the veterans in this forum this is surely a good thing , we could try to at least innovate
legendary
Activity: 2730
Merit: 1263
legendary
Activity: 1806
Merit: 1024
November 16, 2016, 09:44:24 AM
#9
I strongly support SegWit. It's a truly intelligent solution to enable scaling Bitcoin without sacrificing decentralization. It also fixes transaction malleability once and for all. So it's not only about scaling, but also about security. I already upgraded my node to 0.13.1 and given the adoption rate by other nodes, support is strong.

So I'm free of doubts and I'm confident that we will see SegWit activation by end of this year. Obstructionist racketeer Roger Ver will loose all what is left of his credibility and will be sidelined by the Bitcoin community.

ya.ya.yo!
legendary
Activity: 1512
Merit: 1012
November 16, 2016, 08:35:39 AM
#8
We have nothing better for now and SegWit is really good. So yes, we are sure this is the direction we're heading...
sr. member
Activity: 280
Merit: 253
November 16, 2016, 04:42:25 AM
#7
we are at a point (and have been for some time) were bitcoin is so complex and big, that changes are slow and hard to see through.
Changes have to be slow, otherwise we are in for a ETH-like disaster where the only two choices are: 1) Accept a huge loss. 2) Become a bailout coin.
that is true and i do not want to suggest to rush things. my point was that even if everybody is on board with a decision it takes time to go through with it, but because of the many different opinions the process of agreeing on the way to go is a very slow one. 
legendary
Activity: 2674
Merit: 3000
Terminated.
November 16, 2016, 04:33:30 AM
#6
we are at a point (and have been for some time) were bitcoin is so complex and big, that changes are slow and hard to see through.
Changes have to be slow, otherwise we are in for a ETH-like disaster where the only two choices are: 1) Accept a huge loss. 2) Become a bailout coin.

I think it's about time we had smart contracts for the most widely used cryto currency on the planet!
What are you talking about? Segwit has nothing to do with smart contracts. Look for Rootstock, that's where your smart contracts currently are/will be.

legendary
Activity: 3010
Merit: 3724
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November 16, 2016, 04:23:29 AM
#5
I think it's about time we had smart contracts for the most widely used cryto currency on the planet!

Personally waiting to see several sites I am on dive into Segwit. Like most, I will only be a bystander though!
sr. member
Activity: 280
Merit: 253
November 16, 2016, 04:16:50 AM
#4
only time will tell. but i do hope for the best. we are at a point (and have been for some time) were bitcoin is so complex and big, that changes are slow and hard to see through. what is the worst that can happen? o yeah we burn a billion $$$ and learn a lesson. 
legendary
Activity: 2674
Merit: 3000
Terminated.
November 16, 2016, 03:57:56 AM
#3
What exactly are you worried about? Segwit is the most peer reviewed change to date.
legendary
Activity: 3052
Merit: 1281
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November 16, 2016, 03:46:26 AM
#2
There are couple of good things that SegWit will bring to bitcoin.  Even if I am not in favor of this, I don't have the capability to contribute in bitcoin coding or propose and alternative solution to the current issue of bitcoin.  As I browse thru the benefits of SegWit, it will boost bitcoin useability, and even it will minimize the complexity of integrating smart contracts to bitcoin.  so all in all after SegWit activation, bitcoin as believed will be more open to future upgrades.
legendary
Activity: 883
Merit: 1005
November 16, 2016, 02:51:51 AM
#1
 SegWit, are we sure about this? I'm embarrassed that I'm a little nervous.  Dose Bitcointalk have any doubts or are you guys pumped for SegWit?
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