Matthew Haywood Profile picture
Working @blockstream #bitcoin
Sep 16, 2018 10 tweets 2 min read
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.
Jul 30, 2018 9 tweets 2 min read
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.