All posts made by lunyrdoctor in Bitcointalk.org's Wall Observer thread



1. Post 41114387 (copy this link) (by lunyrdoctor) (scraped on 2020-04-04_Sat_15.59h):
Quote from: jbreher on June 28, 2018, 10:21:23 PM
Quote from: fluidjax on June 28, 2018, 08:12:49 PM
Quote from: Ibian on June 28, 2018, 07:53:44 PM
Quote from: infofront on June 28, 2018, 07:22:28 PM
Quote from: Ibian on June 28, 2018, 06:36:39 PM
Welp. We know how high level money and power works. When it's financially worthwhile to do so, someone will get together the required processing power and buy off the proper authorities and make an honest attempt to steal segwit coins. Whether it succeeds or fails, it will be a big blow to the faith people have in the system (bitcoin in all its forms, authorities, moneyed people (us, even if simply by association)).

Just the first line in your post sold it for me. What in the actual fuck.

I feel dumb. I've been a segwit cheerleader without knowing all the facts. I see now that some of it is tribalism, as you mentioned earlier.

Anyway, it's what we've got now, and I still support Bitcoin. I won't be keeping my cold storage coins in a segwit address though.
Group identity is a powerful thing. What's important now is what to do going forward.

I didn't even know why it might be bad, I just had a funny feeling due to the lack of open discussion of its pros and cons. When only one side is being talked about, it's time to be careful.


Welcome to ignore

None so blind as those who refuse to see...

Wow my first post after lurking around for months now.. so hello to everyone that's been around for years.. I'm one the new HODLers Cheesy

As far as I could gather, this post here pretty much discusses this topic. It is also explained why SegWit shouldn't be a problem since the 51% attack would hard fork bitcoin because the nodes wouldn't validate the transaction: https://www.reddit.com/r/btc/comments/6p3wie/can_anyone_explain_why_this_attack_against_segwit/


2. Post 41114751 (copy this link) (by lunyrdoctor) (scraped on 2020-04-04_Sat_15.59h):
Quote from: fluidjax on June 28, 2018, 10:50:45 PM
Quote from: RayX12 on June 28, 2018, 10:46:47 PM
Quote from: infofront on June 28, 2018, 06:30:37 PM

- Non-segwit transactions require 51% of the hashpower and a private key to steal. Segwit transactions just require 51% of the hashpower.


You statement is very confusing since you are taking about two things: a) 51% attack and b) stealing coins.
How can you steal coins without private keys on Bitcoin?  What kind of bull shit is this?
Please enlighten me!

In big blocker world you don’t need non mining nodes. Miners enforce and determine consensus. Therefore 51% attack can do anything they like including stealing coins without keys.

And with bitcoin the nodes wouldn't validate these transactions since they don't have signatures, hence this would result to a hard fork of the chain. And the miners could do a hardfork right now if they wanted. And they haven't yet for good reasons.


3. Post 49728449 (copy this link) (by lunyrdoctor) (scraped on 2020-04-04_Sat_16.31h):
Quote from: Biodom on February 13, 2019, 08:13:50 PM
The biggest question I ponder with regards to bitcoin is the following:

Right now the only way to benefit from bitcoin appreciation is to sell it (or exchange for goods).
There are no cash flows that you can get from simply holding btc.
I know that it is from design, but would have preferred to have some income from btc holding.
Otherwise, the only way is to sell, which most people detest.
Getting cash loans in lieu of btc is super risky because of btc volatility.
Who wants to get a loan at 30% value, then get liquidated on a 83% "correction".
I wonder if some legit services will develop which can give you an "interest" (even a small one) on your btc.
You should check out Celsius then. They give you about 5% on your BTC.