Matthew Haywood Profile picture
Jul 30, 2018 9 tweets 2 min read Twitter logo Read on Twitter
1/ BCash's 1 min block proposal and attempts to make 0-conf safe are nasty fudges to work around inherent restraints in the base layer already solved by layered protocols. The more of these hacked "work arounds" that come to light the more clear it is they chose the wrong path...
2/ Scaling through block size increases alone compromises decentralisation and introduces trust. Trusting 0-conf requires you ignore why a blockchain and PoW were required in the first place. 1 minute blocks compromises security, changes inflation etc.
3/ I don't know how much longer they can keep willfully deceiving themselves until they consider that the near universally accepted method of network scaling through layered protocols might have been the right choice all along... but it will be a fair while yet I imagine.
4/ #LightningNetwork is still in its infancy but already shows the layered approach is valid. Segwit enabled this AND added capacity. Meanwhile work on actual transaction efficiency improvements like signature aggregation continues whilst BCH fights against the base layer.
5/ Blockchains are inherently hard to scale. Layered protocols are harder to understand than "32 is bigger than 4". This causes many to stop and cry foul at the experts who propose layers. (I'm sure some of it is they don't like not being able to explain how it works any more)
6/ They could take the time to learn but it's easier to complain and appeal for support from those who also don't understand. Conspiracy theories are added to create a sense of outrage against experts, labelling them as trying to deceive through obfuscation.
7/ If you don't have time or the technical knowledge to understand that doesn't mean you should fight blindly against something. I don't understand the full extent of how nuclear power plants work, but it doesn't stop me using and appreciating electricity.
8/ That doesn't mean that you should trust an expert blindly. The combined efforts and historical evidence that layered protocol scaling works (e.g. the internet) should make you question the "32 > 4" rhetoric at least enough to think rationally about the high level approach.
9/ Bitcoin is a complex system. Wallet developers *abstract" that away from the user. The same will happen with #LightningNetwork. The "32>4" approach *hides* the increasing need to trust from the user by fanfaring low fees/0-conf and by gaming people through social manipulation.

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More from @wintercooled

Sep 16, 2018
A short Sunday tale...
1/ A group of people find the ideal offices to work from, lovely environment, well furnished and situated close to where they all live. It's perfect. They collectively hire security guards who they pay well on a daily contract basis. All is well until...
2/ The security guards have a meeting and decide that they don't like commuting to work. They decide that the following week they won't turn up at the offices but instead will guard a different, vacant building closer to where *they* all live.
3/ They tell the happy office workers that they will need to relocate their equipment and travel to the new location or risk having no security next week. The office folk shrug and put out an advert for new security staff. "Turn up and get paid!" is the simple-to-fulfill offer.
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