Quote from: TheQuin on November 08, 2017, 09:35:07 AM

That's interesting, so there isn't really any reason for this not to get more widely adopted then.

Two problems. Firstly, BIP173 (bech32) is relatively fresh (was designed later than segwit itself) so support for it also is very new. Secondly, inertia. Adoption of P2SH-P2WPKH is fairly slow (and it's fully compatible both ways from the start) and bech32/P2WPKH is partly incompatible with old wallets. But bech32 is very nice, much better than base58 standard and pure P2WPKH save additional transaction size compared to P2SH-P2WPKH. Also P2WSH (for pure segwit multi-signature transactions) are more secure that legacy multisignature. For 160-bit hash one can find a collision in 2^80 operations (it's doable with a large fraction of the bitcoin hashrate within weeks) if one can craft one of the public keys for the multisig. P2WSH are 256-bit and 2^128 operations are infeasible. Eventually, people will upgrade to bech32 but the adoption will not be fast.