Post
Topic
Board Bitcoin Discussion
Re: Craig Wright: "You dont need to hold the blockchain. Its ok if only banks do."
by
magneto
on 02/07/2017, 04:48:51 UTC
Someone can't simply create something revolutionary in the financial system as bitcoin (which stands against everything the banking system represents) and still support banks, this simply make no sense to me, the contradiction is definitely there. I wouldn't take a word from Craig Wright seriously. I'm not even sure why and how he is back suddenly.

It was just all a part of an elaborate publicity stunt imo for Craig Wright. He had the balls to fake it right till the end though, which is fascinating to me. Running a full node is the only way to ensure that you're getting 100% privacy and security.

ETH network has not enough complete nodes and look the result : less transaction and already stuck.

Complete nodes are a base for all P2P network.

You can not mine with not enough complete nodes to receive (and FILTERED WITH THE NETWORK RULES) all transactions around the network.

And specially in restricted area ...


Nodes
Developpers
Merchands (Users)
Exchanges
Miners

This 5 groups are the essence of the Bitcoin stability (in TASK view) : https://www.youtube.com/watch?v=rpeceXY1QBM

Agreed. The whole idea of a p2p decentralized network is to make sure that every transaction is private, and trustless. If not enough people run full nodes then the whole system is going to become somewhat centralized. IDK what the hell Craig Wright was on when he said this, if he was satoshi, surely he won't be endorsing centralization of any kind?

Quote from: bitcoin.org
Most full nodes also serve lightweight clients by allowing them to transmit their transactions to the network and by notifying them when a transaction affects their wallet. If not enough nodes perform this function, clients won’t be able to connect through the peer-to-peer network—they’ll have to use centralized services instead.