RE: Secrets of Bitcoin’s Dystopian Valuation Model
The Satoshi v0.5.3 protocol views those P2SH addresses as scripts without any public key...
So the miners roll back their software to the version of bitcoin that can only recognize the P2PKH. The full non mining nodes who will still be running the later software then become part of the worthless Core fork unless they also revert. However, writing bitcoin code is more like designing hardware. Your bugs will be forever enthroned on the blockchain for the sake of immutability. One other potential thing to consider is the bugs that could result from such a rollback after hardware changes. I don't think there would be a problem with ASIC's yet since they have one thing to do which is find the nonce, but the longer segwit remains as a standard, the more likely other hardware changes will make it increasingly too difficult to roll back.
This is the only potential problem that I can see with your argument at this point. It's a timing issue. Imagine rolling back to Windows 95 on current processors. Most people wouldn't be able to comply. But it might be extremely profitable for the ones who do. What's the chance that a fork of Core from the bitcoin classic wouldn't be like Eth and Eth classic with Core being like Eth in marketcap? IOW, what other violations of economic principle have Core engaged in?
Please kindly make substantive arguments, so I am not obligated to pollute my Comments list with moar replies. I am obligated to reply now to your (more or less vacuous) comment, because otherwise naive readers might incorrectly assume you’ve stated some substantive objection. Please don’t take this as a personal insult. It’s just that instead of editing your comments to merge new comments, you make double replies for example. I’ve written too many comment replies today. Please in the future consider to merging your new thoughts by editing a previous comment. I will notice it and edit my reply as well to add any reactions. No need to pollute my Comments list such that I will not even been able to find anything anymore because buried under 3000 comments.
You have not proposed any such specific hardware dependency and inertia.
Only hashrate matters.
The only plausible SegWit hardware dependency I’m aware is Gregory Maxwell’s changes to defeat surreptitious (i.e. undetectable) use of ASICBOOST. Yet I see new ASICs being announced with ASICBOOST. So apparently detection is not a sufficient deterrent.
Mining is not really anything like a consumer OS such a Windows. The analogy is weak. You should have tried to find a substantive example first of your hypothetical. I believe there is none to be found.
There was a time when I was thinking about all that deeply and might have had some ideas to share, but I let it go. I have to focus elsewhere.
Extensive discussion about the coming epic SegWit donations “attack” on Bitcoin
The following is very important, specialized information that you can not read any where else on the Internet. I have condensed all the essential information into a few posts.
After the linked post from @Last of the V8s which quotes me, look for every post in the thread from @infofront where he posted on my behalf:
https://bitcointalk.org/index.php?topic=5147618.0;all#msg51306669
There is an archived copy in case the
bitcointalk.org(aka BCTalk) mods start censoring (deleting) the posts:https://web.archive.org/web/20190607135535/https://bitcointalk.org/index.php?topic=5147618.0;all#msg51306669