Post
Topic
Board Development & Technical Discussion
Merits 23 from 8 users
Re: Taproot fraud
by
achow101
on 25/05/2021, 16:40:41 UTC
⭐ Merited by suchmoon (9) ,NotATether (3) ,gmaxwell (2) ,o_e_l_e_o (2) ,Foxpup (2) ,ETFbitcoin (2) ,nutildah (2) ,stompix (1)
Why I have that feeling that Bitcoin price is plummeted not because of Elon Musk, but because of Taproot?
Perhaps it's because you don't understand how the market reacts to technical changes. Time and time again the markets have shown us that they could not care less about technical changes.

The moderator on this board achow101 is the main person who spreading fake news online regarding taproot.
It is not fake news. It is literally true that the mining pools which make up ~95% of the hashrate are all signaling for taproot. I never said that Taproot has locked in. I never said that it will lock in. I have only stated that we have ~95% of the hashrate (this number calculated by the proportion of blocks mined by each mining pool since the beginning of the signaling period) are signaling which indicates that we should lock in during the next signaling period. Note that the word is should, not will or shall or any other definitive statement.

Absolutely bullshit. Seriously. Miners in China are shutting down so western miners can enforce the taproot lock-in. Who gives a shit what happened in the past 24 hours?
This has almost nothing to do with the miners themselves. It's all about the mining pools that those miners are mining with. The mining pools are signaling, so even if a bunch of chinese miners go offline, when they come back online and connect to the same pools that they have been mining with, they will all be signaling because the mining pool tells them to signal. Perhaps they'll all abandon ship and go to a mining pool that does not signal, but there are fewer and fewer of such pools. Furthermore, the hashrate estimates are not based on the past 24 hours, they are based on the past several days, since the beginning of the signaling period. They are based on the number of blocks each mining pool has mined in this signaling period.

It is absurd and undemocratic.
This is not a democracy. Signaling is not voting. It is not a vote to activate Taproot. It is miners indicating publicly that they will begin enforcing Taproot's consensus rules. Signaling is a coordination mechanism to help the upgrade go smoothly. It is not a vote for or against Taproot. Figuring out whether we should have Taproot or not was done months, even years, earlier when the discussion of the concept was still ongoing.

Taproot is a fraud, it has no any privacy value, even worse according to Edward Snowden who worked for the CIA and NSA taproot actually makes Bitcoin privacy worse.
This is categorically false, and Snowden is the one spreading "fake news". Taproot makes Bitcoin privacy better because it allows users to hide their scripts. It can make all kinds of complex contracts appear to be the same as each other, and as all of the people doing single key things (which is the vast majority of people). Taproot even lets you do interesting things like prove that you own a UTXO among a large set of UTXOs without revealing which one. These are all privacy improvements that Taproot provides. Yes, there will be a short term privacy loss as software begin switching over to Taproot. But in the long term, Taproot provides immense privacy gain.