Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I think it's starting to sink in with some people that FrankenSegwit may not come out with sound code; and with it's planned Hardfork, come November, it's just kicking the can down the road a little for another major forking threat.
It has horrible code. One of the hardcoded seeds is basically an anti-privacy (chain analysis) company by Garzik. 
Easy fix. All one has to do is download the source code, delete the offending seeds and compile yourself. Of course, the casual user probably isn't going to do that. I'm worried about the other code. Since I only have a rudimentary understanding of C++, I'm afraid it's way beyond my capability to do an analysis.
bitcoin 101 for newcomers (apparently):
1. you download your bitcoin node client and start it up
2. the node goes through a series of hard coded IP addresses to connect to one of them. these IP addresses are for reliable, always up, nodes (that is why they are hard coded anyways). you connect to one of them.
3. end of story. you are now connected to the bitcoin p2p network and receive the rest of the IP addresses from the nodes that you are connected to via a specific message.
1. when you open your node again. restart or whatever. your node has saved all the IP addresses of nodes that it successfully connected to before. now it has a bigger list.
where is this DNS thing you ask,
it is only a fallback method in case your node failed to connect to any of the nodes (hard coded IPs which are reliable nodes that are always up and responding) or your list of previously connected nodes. it connects to the next source to find IP addresses of the other nodes to connect to.
in other words the "casual user" will probably never even use them!
