The real reason why the big-blockers are so much against SegWit?

in #bitcoincash7 years ago

Initially the "big-blockers" on r/btc on reddit just wanted bigger blocks, but eventually the focus seems to have moved to "no segwit!". Big-blockers and small-blockers seems to agree that SegWit2X is a bad idea - instead of uniting on what I think is the obvious compromise - SegWit2X. Why?

Of course, there was the "covert asic-boost"-hypothesis that SegWit would reduce the profitability of AntPool - that's a good reason for AntPool to be against SegWit, but not a good reason for the "common big-blocker" to be against SegWit.

We're frequently told on r/btc that SegWit (as compared to the alternative proposal - FlexTrans) is ugly, complex and introduces technical debt. Well, who cares about that except developers - and strangely enough, it does seem like most developers are on the Core-side.

Then there is the security argument, it's been said that SegWit is inherently insecure - I don't believe so. The argument that a coalition of evil miners can revert the SegWit-rules and steal all the money does not make sense to me - such a coalition of miners can also decide the mining reward should be increased, or basically change any rule as they see fit. It would crash bitcoin value overnight, no miner would benefit from that.

Another thing, SegWit will give a huge discount on SegWit-inputs, this has been said to be important for sidechains and lightning, and some believe Blockstream will be the big winner of the game if they get this discount implemented. Blockstream has been through massive smear-attacks on r/btc, anything that is good for Blockstream must surely be bad for Bitcoin? (And Blockstream is against SegWit2X? I don't get it ...)

One reason I haven't seen yet - but it may be the biggest reason - is that the three software forks XT, Classic and Unlimited does not support SegWit. There may be the sunken-cost-fallacy playing out, if SegWit2X will be the de-facto Bitcoin going forward, then all the work done on those three forks will be in vain.

And then at last - my personal conspiracy theory, I call it the "Palatine/Dooku"-hypothesis. I was first joking about it, but as time passes things sort of fits in perfectly with the theory. Or maybe it's just all in my head. The hypothesis goes that some evil force, maybe someone with vested interests in the current fiat system, have some paid agents on both sides of the schism, and said agents have successfully managed to manipulate the other actors - just like Palatine and Lord Dooku managed to manipulate a whole universe and start the Clone Wars in the Star Wars story. Of course, in this scenario it's important to beat the drum and tell the big-blockers over and over again that bigger blocks by now is less important than blocking SegWit - and also, to beat the drum and tell the small-blockers over and over that sticking to the 1MB-limit is the number one priority, much more important than SegWit activation.

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I think many 'big blockers' just prefer the simple solution (with empirical evidence that it works) to an overly complex solution (thay may not even work)...

Oh, two more possibly legitimate reasons to be against SegWit:

  • SegWit solves the quadratic hashing problem, but only for transactions built up with segwit inputs. Bitcoin Cash has already solved this problem for all transactions on the Bitcoin Cash chain.
  • Blockstream has multiple patents covering SegWit.

i cant wait until bitcoin cash substitutes bitcoin

Me too. It's no BS scaling. Clean and simple.

Nice Post dear friend.

I have been trying to get my head around all of the SegWit debate, this post helps put in perspective the chats I have seen around the net. Conspiracy nuts have their claws all over this stuff and most get the facts completely wrong. For example, anyone who gets censored from r/btc feels like they have drawn the ire of centralization overlords. I hate censorship too, but keep in mind the political climate in the US is that if anyone disagrees with your position, you censor them away from your inner circle and shame them, a move employed by a lot of people and it has nothing to do with a secret greater purpose. Another is about Blockstreams integrity. I have read in several articles from many sources that show the CEO, Adam Back, a huge supporter of users that WANT decentralization over all.

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