Post
Topic
Board Speculation
Re: Long term advance notice!
by
exstasie
on 06/06/2019, 15:54:09 UTC
This message from Shelby is very interesting. The issue is even more complex than what I believe it was.

No it's not. He seems like a nutjob. It's incredible that anyone is still going on about an "anyone-can-spend" attack. He obviously deeply misunderstands the incentives at work in Bitcoin.

No one cares what miners want; they will simply follow what users want. The lead-up to the Segwit fork proved that much. If miners switch to a fork where they steal everyone's coins going back 2012, nobody is going to switch to the miner's fork, LOL. Why would they? Clearly these are dishonest miners who are useless in securing a protocol.

Again, miners follow users, not the other way around. Without users, there are no transaction fees and no speculative value based on future usage. Miners will be spending massive amounts mining a completely worthless chain.

Just like they fell in line with Segwit activation, they will quickly migrate back to the "Core" chain where the vast majority of users will be. No, a bit of temporary congestion and slower block times won't cause anyone to fork to a chain where the protocol incentives obviously don't work to keep miners honest.

If the attack succeeded (LOL) it would only succeed in destroying trust in all the forks, and all of crypto.