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To: Andrew Johnson <andrew.johnson83@gmail.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>,
Andrew Johnson via bitcoin-dev <bitcoin-dev@lists.linuxfoundation.org>,
Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>,
Christian Decker <decker.christian@gmail.com>
From: Peter Todd <pete@petertodd.org>
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Subject: Re: [bitcoin-dev] Three hardfork-related BIPs
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On 27 January 2017 15:53:02 GMT-08:00, Andrew Johnson via bitcoin-dev <bit=
coin-dev@lists=2Elinuxfoundation=2Eorg> wrote:
>I'd also like to point out to Luke that Satoshi envisioned most full
>nodes
>running in data centers in the white paper, not every single user needs
>to
>run a full node to use bitcoin=2E Not to present this as an argument
>from
>authority, but rather to remind us what the intention of the system was
>to
>be(p2p cash, not a settlement layer only afforded by the wealthiest and
>largest value transactions)=2E That a lot of people want to continue to
>move
>in that direction shouldn't be a surprise=2E
Satoshi also thought that SPV clients would be able to use fraud proofs (c=
alled "alerts" in the white paper) to detect fraudulent behavior by miners,=
and thus not have to completely trust those nodes in those datacenters=2E =
Unfortunately it turns out that fraud proofs are both a very difficult engi=
neering challenge to implement, and also offer much less security than once=
thought=2E In fact, as per Satoshi's vision, SPV clients don't currently e=
xist; what's called SPV isn't what Satoshi was envisioning=2E
Of course, this wouldn't be the first time that aspects of Satoshi's visio=
n for Bitcoin turned out to be wrong: the white paper also refers to the "l=
ongest chain" rather than most-work chain, something that had to be fixed i=
n what's technically a hardfork after Bitcoin's initial release=2E
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