Post
Topic
Board Development & Technical Discussion
Merits 3 from 2 users
Re: Is 51% attack a double-spending threat to bitcoin?
by
amishmanish
on 06/04/2020, 05:16:46 UTC
⭐ Merited by DooMAD (2) ,ETFbitcoin (1)
Now, and please stay focused, if the double-spend is solved in the first place regardless of what is happening in the mining scene, what's actually driving the anti-PoW/anti-miner propaganda/instincts in this community? I'm asking about the rationale behind this phobia and the way it is blocking so many scaling ideas and proposals? If double-spending is not going to happen and bitcoin supply won't ever exceed the cap, what else is at stake that makes people nervous about trusting in PoW?  

Are people concerned about pools to collide and defraud few Satoshis from reckless users who release their assets with one or two confirmations? Please! Just give me a break.

Hello aliashraf. I have seen you be a long time proponent of scaling ideas on bitcoin. I read a lot of your posts about proposing a rigorous solution and the code for some of your ideas but I don't know if you are actively pursuing them in terms of code. Point me in a direction if you are. I don't think there is any anti-PoW/ anti-miner propaganda in this community. Everyone loves PoW. The concern about miner centralization is only related to the fact that you cannot let a specialized group of people be the sole controlling-stakeholders in a decentralized system that we all hope will continue and flourish long after we have gone. Don't you feel it is a genuine and valid concern considering the vision and magnitude of such a system.

That is why Bitcoin community insist on the throughput constraints for full nodes when business interests are going wild with their 128 MB and 1 GB blocks. The concept that base layer with billions of dollar of value should continue in its robust, widely-accessible form is a worthy goal. What is wrong if real scaling solutions that can enable day-to-day payments come as Layer-2 solutions like LN? Bitcoin has a robust roadmap, in as much as a decentralized roadmap can be. The insistence on scaling the base network by crowding out full nodes and using the "Nodes don't matter" argument does not hold much water. There are more than one way to do a thing right.

What exact scaling solutions do you think the community is not thinking of? We had segwit. Then there is Schnorr and Taproot which bring more functionality and a bit of scaling. I think the community is doing great. Your thoughts and comments on the thread i linked would be welcome.