1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
|
Return-Path: <david.vorick@gmail.com>
Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org
[172.17.192.35])
by mail.linuxfoundation.org (Postfix) with ESMTPS id 7E8728CC
for <bitcoin-dev@lists.linuxfoundation.org>;
Sun, 12 Mar 2017 17:20:19 +0000 (UTC)
X-Greylist: whitelisted by SQLgrey-1.7.6
Received: from mail-wr0-f170.google.com (mail-wr0-f170.google.com
[209.85.128.170])
by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 9A68490
for <bitcoin-dev@lists.linuxfoundation.org>;
Sun, 12 Mar 2017 17:20:18 +0000 (UTC)
Received: by mail-wr0-f170.google.com with SMTP id l37so90994942wrc.1
for <bitcoin-dev@lists.linuxfoundation.org>;
Sun, 12 Mar 2017 10:20:18 -0700 (PDT)
DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025;
h=mime-version:in-reply-to:references:from:date:message-id:subject:to;
bh=KLrbl4ejjoImK1j7Wnf1KoODy75QysOB2Xp6dcoBqgE=;
b=tdlMwrVURomcOCZ59nAJKe7OzfncrllPOEWEguGjw1lFucOmYPEaYLsNTluRnh8ai8
bahNQiwYBoBYCK4tFqPpxsmq8JARsqjusMKMzmJvwB8malF6V4kKoCmmz2MlWjTDUHwA
7vRBR3gcipd0EhOF/0Ukre4T7VW8cca0l9of7ZlwcP2W9dx1+cAI1ZzmeXIYkX1PDkTy
eXmWy4suImWuYL8YjKg72IMHxEtmCYSqVaHlDlbGvAeN/5EHHcgz9vMs9pafmDBATtHf
o/tnwraCSupPRcwQ0TFO1K2+ExQXIQ47aOn7gjfLQZOBiltvDd3+lbFSGsMhAxVQPV3G
XagA==
X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed;
d=1e100.net; s=20161025;
h=x-gm-message-state:mime-version:in-reply-to:references:from:date
:message-id:subject:to;
bh=KLrbl4ejjoImK1j7Wnf1KoODy75QysOB2Xp6dcoBqgE=;
b=EyTadPNTKWOr8urd61/DVsen06HftvSczn510FbsbSLrg8JaeUyaDtUIJZoBHOA/xU
XnNsY1QrKIDsd9TB+Lx9uAR+vP5k+OO298GJPHzIP6rSBt4dTt9o5osRlFeibwvNgQkw
0TtGv7ae1LxHtAOoOyA0wcrnJhnZcQ0Gc6ea7yV2yQ3BD9u1a2t7GhTanDx4KzkTRNmM
o/0HvuyRZz2HZNNmJmo9B4WxGPZpTPpi7080u7Btn96OQQbnAwx9SVCPqiCZh9l6OQ+o
sGJywu6cnVyM5s8OXjoMqZ5p0tS0WXbruc+vkD4foq/QabcdOpsPiH+j5vYZA+s+QLUe
EPMA==
X-Gm-Message-State: AMke39mPOR2QzEC9j4AOQFz6uagehOM0WiLeqBFK5X8lsDOCePcaX8IECBjWm6ylXJtpFkDrwsWsPFo3eXdgwg==
X-Received: by 10.223.164.16 with SMTP id d16mr23448385wra.47.1489339217044;
Sun, 12 Mar 2017 10:20:17 -0700 (PDT)
MIME-Version: 1.0
Received: by 10.28.92.193 with HTTP; Sun, 12 Mar 2017 10:20:15 -0700 (PDT)
Received: by 10.28.92.193 with HTTP; Sun, 12 Mar 2017 10:20:15 -0700 (PDT)
In-Reply-To: <OUzy7vvSKdJW7OCcCNCbaVDT-hJcf7Fy3fxEi_z6AmBC3VY0dGZpSBOGxRs-fVE-CfOVToCjjwB-meqejkb4VXYAGu0HHPTzNFhomEhgVpk=@protonmail.ch>
References: <OUzy7vvSKdJW7OCcCNCbaVDT-hJcf7Fy3fxEi_z6AmBC3VY0dGZpSBOGxRs-fVE-CfOVToCjjwB-meqejkb4VXYAGu0HHPTzNFhomEhgVpk=@protonmail.ch>
From: David Vorick <david.vorick@gmail.com>
Date: Sun, 12 Mar 2017 13:20:15 -0400
Message-ID: <CAFVRnyqkJa1a9v-iC2GTyo+Qp5izwEVtUOHe6UENgfA0Fv0gfw@mail.gmail.com>
To: shaolinfry@protonmail.ch,
Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
Content-Type: multipart/alternative; boundary=f403045f2302fb6e16054a8bce1d
X-Spam-Status: No, score=-2.0 required=5.0 tests=BAYES_00,DKIM_SIGNED,
DKIM_VALID, DKIM_VALID_AU, FREEMAIL_FROM, HTML_MESSAGE,
RCVD_IN_DNSWL_NONE autolearn=ham version=3.3.1
X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on
smtp1.linux-foundation.org
Subject: Re: [bitcoin-dev] Flag day activation of segwit
X-BeenThere: bitcoin-dev@lists.linuxfoundation.org
X-Mailman-Version: 2.1.12
Precedence: list
List-Id: Bitcoin Protocol Discussion <bitcoin-dev.lists.linuxfoundation.org>
List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>,
<mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe>
List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/>
List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org>
List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help>
List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>,
<mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe>
X-List-Received-Date: Sun, 12 Mar 2017 17:20:19 -0000
--f403045f2302fb6e16054a8bce1d
Content-Type: text/plain; charset=UTF-8
It has taken almost 6 months for SegWit adoption to get to where it is
today. I don't think it will take that long to reach similar adoption for
UASF SegWit, but conservatively we want to give it at least that much time.
It's really important to stress here that a UASF will split and become the
minority chain if a majority of the transaction accepting nodes on the
network do not agree to strictly follow the UASF and outright reject blocks
that do not signal for SegWit at the designated date.
Before setting a flag day, I think we should get written cooperation
agreements from the largest economic players in Bitcoin. This would include:
Bitfinex
Bitflyer
BitGo
BitPay
Bitstamp
Blockchain.info
Blockcypher
Coinbase
Huobi
Kraken
Gemeni
OkCoin
Poloniex
(feel free to discuss this list)
100% cooperation is not necessary, but close to 100% cooperation is
strongly desired. It should be noted that their cooperation is only
required because they are sufficiently powerful to threaten the success of
a UASF, particularly because many of these entities hold users bitcoins.
Once a convincing majority is on-board, I suggest we release a UASF patch
that activates a full year after release. This is because a UASF is a big
gamble that requires a large majority of the economy has upgraded.
Though that is a very long time, SegWit can always be activated early with
miner cooperation.
------
As an extra note, if the UASF triggers with majority economy support and
the miners resist, a minority block reward chain may be the longest chain
for a while. However, when the majority block reward chain does catch up,
the minority reward chain will be entirely obliterated, eliminating all
block rewards, all transaction history, and making a ton of money vanish
all at once.
This makes it very dangerous for an exchange, payment processor, online
wallet, or miner to oppose the UASF if there is significant momentum behind
it. This gives the UASF a powerful snowball effect once a few major parties
(or the majority of tiny full nodes) have decided to commit to the UASF.
On the other hand, failure means a permanent coin split, so it is still
necessary to exercise caution that exceeds the caution of a normal soft
fork.
--f403045f2302fb6e16054a8bce1d
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<div dir=3D"auto"><div><div class=3D"gmail_extra">It has taken almost 6 mon=
ths for SegWit adoption to get to where it is today. I don't think it w=
ill take that long to reach similar adoption for UASF SegWit, but conservat=
ively we want to give it at least that much time.</div></div><div class=3D"=
gmail_extra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto"=
>It's really important to stress here that a UASF will split and become=
the minority chain if a majority of the transaction accepting nodes on the=
network do not agree to strictly follow the UASF and outright reject block=
s that do not signal for SegWit at the designated date.</div><div class=3D"=
gmail_extra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto"=
>Before setting a flag day, I think we should get written cooperation agree=
ments from the largest economic players in Bitcoin. This would include:</di=
v><div class=3D"gmail_extra" dir=3D"auto"><br></div><div class=3D"gmail_ext=
ra" dir=3D"auto">Bitfinex</div><div class=3D"gmail_extra" dir=3D"auto">Bitf=
lyer</div><div class=3D"gmail_extra" dir=3D"auto">BitGo</div><div class=3D"=
gmail_extra" dir=3D"auto">BitPay</div><div class=3D"gmail_extra" dir=3D"aut=
o">Bitstamp</div><div class=3D"gmail_extra" dir=3D"auto">Blockchain.info</d=
iv><div class=3D"gmail_extra" dir=3D"auto">Blockcypher</div><div class=3D"g=
mail_extra" dir=3D"auto">Coinbase</div><div class=3D"gmail_extra" dir=3D"au=
to">Huobi</div><div class=3D"gmail_extra" dir=3D"auto">Kraken</div><div cla=
ss=3D"gmail_extra" dir=3D"auto">Gemeni</div><div class=3D"gmail_extra" dir=
=3D"auto">OkCoin</div><div class=3D"gmail_extra" dir=3D"auto">Poloniex</div=
><div class=3D"gmail_extra" dir=3D"auto"><br></div><div class=3D"gmail_extr=
a" dir=3D"auto">(feel free to discuss this list)</div><div class=3D"gmail_e=
xtra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto">100% c=
ooperation is not necessary, but close to 100% cooperation is strongly desi=
red. It should be noted that their cooperation is only required because the=
y are sufficiently powerful to threaten the success of a UASF, particularly=
because many of these entities hold users bitcoins.</div><div class=3D"gma=
il_extra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto">On=
ce a convincing majority is on-board, I suggest we release a UASF patch tha=
t activates a full year after release. This is because a UASF is a big gamb=
le that requires a large majority of the economy has upgraded.</div><div cl=
ass=3D"gmail_extra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=
=3D"auto">Though that is a very long time, SegWit can always be activated e=
arly with miner cooperation.</div><div class=3D"gmail_extra" dir=3D"auto"><=
br></div><div class=3D"gmail_extra" dir=3D"auto">------</div><div class=3D"=
gmail_extra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto"=
>As an extra note, if the UASF triggers with majority economy support and t=
he miners resist, a minority block reward chain may be the longest chain fo=
r a while. However, when the majority block reward chain does catch up, the=
minority reward chain will be entirely obliterated, eliminating all block =
rewards, all transaction history, and making a ton of money vanish all at o=
nce.</div><div class=3D"gmail_extra" dir=3D"auto"><br></div><div class=3D"g=
mail_extra" dir=3D"auto">This makes it very dangerous for an exchange, paym=
ent processor, online wallet, or miner to oppose the UASF if there is signi=
ficant momentum behind it. This gives the UASF a powerful snowball effect o=
nce a few major parties (or the majority of tiny full nodes) have decided t=
o commit to the UASF.</div><div class=3D"gmail_extra" dir=3D"auto"><br></di=
v><div class=3D"gmail_extra" dir=3D"auto">On the other hand, failure means =
a permanent coin split, so it is still necessary to exercise caution that e=
xceeds the caution of a normal soft fork.</div></div>
--f403045f2302fb6e16054a8bce1d--
|
