Post
Topic
Board Bitcoin Discussion
Re: The dangerously shifted incentives of SegWit
by
JamesBold
on 22/10/2017, 22:08:42 UTC
Segwit has the issue of being totally reversible. For the coins or transactions done on Segwit they can be manipulated successfully by a 51% attack so well that they won't even have transaction IDs on the Segwit chain any more.

If you choose to use Segwit you are risking a 51% attack miner who can literally take the entire history of the blockchain of Segwit, wipe it, and take the coins.

As it stands now with the current BTC blockchain it is unlikely that a 51% attack can affect more than the last 2 or 3 blocks.

I'm sorry, but can anyone else back this up? This sounds like bullshit. I read from many reputable sources that SegWit transactions only have this "potential reversible transaction" vulnerability only for unconfirmed transactions. Once a transaction is confirmed, then it is secure.