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RE: Litecoin & Bitcoin: What's the Difference?!

in #bitcoin6 years ago

Thanks for the link, I will review it. However as I understand it, the inception of the bitcoin software which includes the full node wallet to help verify your mining process was a desktop application, everyone had a full node. Also to clarify my point, RBF as I see it in relation to off-chain scaling, incentivizes miners to continue providing the higher hash rates to secure the network as the reduced rewards and transactions ( due to off chain transaction batching). If the bitcoin network loses miners, the hash rate, and therefore the security of the network deminishes. Only valuable transactions will remain on-chain. It makes no real sense to have RBF with no implementation for off chain scaling. RBF does its best to get your transaction onto the next available block, if that's important to you. However the implementation of off chain scaling attempts to mitigate the requirement temporarily so real life transactions can occur while the transactions are batched.

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You're welcome. The "full node centralization" has already been dealt with in the above link. Everyone was not meant to have a full node in the end. Just before he left, Satoshi was gearing up to implement "client only mode" as default, which would have used SPV and not stored the blockchain. Also already understood your point about RBF and answered it, even if my answer could seem a little convoluted or evasive at first glance.

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