RE: Secrets of Bitcoin’s Dystopian Valuation Model
OK stupid question time:
are there any Satoshi v0.5.3 protocol block explores out there (apologies if this is an easily answered question with a quick net search).
while the bulk of my coins have never touched a segwit addy (always legacy addy to legacy addy moves, and i have been very careful to keep them away from any segwit contamination. which has been easy so far as i rarely more them) i would still like to verify they are on the 0.5.3 chain. along with other 0.5.3 related chain queries. but installing/running 0.5.3 to let it download the chain to run my own queries on it is not possible due to bandwidth issues on my side, it would take over a month and make my internet unusable for that whole time.
thanks for any input you can give on how i may explore the 0.5.3 chain coins and how they treat segwit.
There’s no need for a distinct v0.5.3 block explorer until after the fork begins, because Satoshi’s protocol recognizes all SegWit spends as valid “pay to anyone” transactions. So a Core protocol block explorer is valid for Satoshi’s protocol until when the fork-off begins.
The only thing you need to be worried about is to make sure that your BTC is stored in addresses that begin with
1. Even if you transacted through a SegWit address in the past, this would still be valid in the Satoshi chain after the fork-off, assuming that the miners don’t attempt to rollback the chain. Contrary to my misconceptualization when I was first learning about this issue, I doubt very much they would attempt to rollback the chain, because this would:If one is worried about rolling back the chain, could one use a DEX to spend into something like Monero and then back into a fresh nosegwit BTC address? Is it all addresses on chain that have only been used after v0.5.3?
IOW, if they roll back the chain, everything recorded after v0.5.3 was updated will be erased? (segwit or not)
They will not rollback because they wouldn’t have the longest chain to force Core to fork off. Rolling back to genesis is insane, and would certainly fail.
At most we could be concerned about a few weeks of rollback and AFAICS the Satoshi miners have 0 incentive to do this.
If they did extensive rollbacks the only way to be safe would be to obtain your BTC from miners, but that would make BTC not fungible. I see no incentive for miners to set a precedent of breaking BTC’s fungibility when there’s no incentive for them to do so, and significant disincentives.
If that's the case, anyone can taint your legacy coin simply by sending you a donation from a segwit address. See this one for example...
https://www.blockchain.com/btc/address/1andreas3batLhQa2FawWjeyjCqyBzypd
Seems Andreas Antonopoulos isn't worried about that taint or has been sending them off with coinjoin or mixers.
It's my understanding that he can simply spend those coins to another 1x legacy address to remove taint. I believe a 3x address spending back to a 1xx address requires a signature in the blockchain, so when segwit rules stop being enforced by miners, the received transaction is still valid even though it came from a segwit address. I remember reading from the Trilema logs but not entirely clear if this is true in practice.
That’s true as long as there will be no rollback to the tainted lineage. I have argued that rollback makes no sense from a game theoretic and economics analysis, thus rollback should not occur.