Posts about Bitcoin SV
TIL Bitcoin SV only has a total of 19 reachable nodes only 9-10 of which are still in sync with the latest chain tip
Scroll down to "block height" for a real eye opener. Half of the 19 reachable nodes aren't in sync.
This is why we don't turn the blockchain into an all-purpose data store for social media, dog photos, or weather data.
Keep transactions monetary.
Keep transactions small.
Edit: Satoshi (the real, historical Satoshi, not the guy who plays a character on the Internet) understood these things. That's why, when someone came up with the idea to use the Bitcoin blockchain to store domain name registration data, Satoshi implemented it as a separate blockchain.
Will Bitcoin Association be enforcing the Software Suite?
Apart from releasing the software, the Bitcoin Association will have no role in installing or implementing it ourselves. The burden of deciding on whether to install the version of the Bitcoin SV Node software containing features allowing to freeze transaction outputs as well as to act on court orders will be entirely left up to the miners of the network, as outlined in the original Bitcoin Whitepaper.
Will this affect the security and functional model of BSV?
No, the software described by the settlement would simply enable miners to receive court decisions securely, and act upon them if they choose to do so. The blockchain will continue to use Nakamoto Consensus to extend the blockchain, as it always has, and always will.
This software is a similar implementation of the Alert System introduced by Satoshi Nakamoto in 2010. The alert system was used by trusted parties to communicate messages to nodes in the network. These messages could be acted upon or ignored by nodes in the network as needed.
So there we have it, it will apparently be completely optional to follow these orders seemingly regardless of jurisdiction, as long as you maintain the chain with the most work.
I fear that BSV is going to actually die a lot sooner than I ever thought. How will any exchange continue to support this, or who would even attempt to build on a chain that is arbitrarily subject to spontaneous and ongoing chain split. Even proof of twitter consensus won't help here..
Fairly new to Bitcoin Cash and I am getting sold on it. I'm not sure why things went the way they did through the hard fork. Now from what I hear, the downside increasing block sizes comes with a drawback in security. How serious is this drawback and has there ever been any issues?
Now learning about Bitcoin SV.. Further expanding the block limit and perhaps rendering the chain unsustainable by decreasing the incentive to sell hash power to the network. Plus the multiple 51% attacks the network encountered. Did BCH find the optimal blocksize for current times?