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Ruben Somsen ⚡️🇳🅾️2️⃣❎
@SomsenRuben
, 8 tweets, 4 min read Read on Twitter
1/8 Thread on why #bitcoin Soft Forks preserve consensus. Confused why people prefer Soft Forks over Hard Forks? Do Soft Forks somehow seem coercive? Do you feel like Hard Forks aren't such a big deal? Then read this!
2/8 A proper (non-evil) #SoftFork does not negatively impact users that don't upgrade. This is important, because it preserves the consensus we had before the fork. Don't like the changes? Don't upgrade. No harm done.
3/8 "I refuse, because this unfairly gives soft fork proponents more features than me!". This is #HorseTrading and is unhealthy. If one side can get something they want at no cost to you, don't stand in the way. Consensus will and should ignore you.
4/8 "But technical reason X makes this soft fork bad for me, even if I don't upgrade". If true, then this is not a proper soft fork and you should voice your reasons. If your reasons are not sufficiently addressed, you may have good reason to call it an #EvilFork and reject it.
5/8 "I feel negative emotions about this soft fork, so I reject it". I'm sorry you feel that way, but emotions are out of the scope of consensus. Non-technical reasons are infinite, and can never be fully addressed. Your only option is to #EmotionFork away.
6/8 "I don't trust the people behind this fork". If your decisions are based on the trust of oracles, then you misunderstood bitcoin: don't trust, verify. Start evaluating technical proposals, otherwise the network won't be trustless. An #OracleFork is a centralized fork.
7/8 "I prefer a hard fork". If you think the benefits of hard forking outweigh the cost of splitting the user base, then do it. But if you take that decision lightly, you will find yourself with people who will easily #HardFork away from consensus whenever there's a disagreement.
8/8 Want to learn more? Read this IETF document on "Rough Consensus". Too long? Read the part on "horse-trading" at the bottom of page 5 and chapter 7: "Five people for and one hundred people against might still be rough consensus" tools.ietf.org/html/rfc7282
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#bitcoin #SoftFork #HorseTrading #EvilFork #EmotionFork #OracleFork #HardFork

More from @SomsenRuben see all

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Ruben Somsen ⚡️🇳🅾️2️⃣❎
@SomsenRuben
1/9 Blocks WILL be full sooner or later. We're not making smart use of block space, so we're likely to experience a bumpy fee ride until people adjust their behavior. It's human nature to want to deny unpleasant truths, but it's better to be ready. Here's what you need to know👇
2/9 It costs miners virtually nothing to add a transaction. Block space is given to the highest bidder - if nobody bids, it's practically free. If you think mass replicated immutable blockchain data is at least worth something, then it logically follows that blocks WILL be full.
3/9 Full blocks mean transactions will actually cost something, and that's needed. Not only does it replace the block reward, but Bitcoin's censorship resistance depends on it: a censoring 51% attacker gets the FULL block reward, but NONE of the transaction fees it censors.
Read 9 tweets
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Ruben Somsen ⚡️🇳🅾️2️⃣❎
@SomsenRuben
1/4
Update your @Ledger hardware wallet ASAP if you haven't already! Last month Ledger released v1.5.5, stating that it contained a "critical security fix on the Bitcoin app" ( ledger.fr/2019/01/16/led… ). I wondered how serious it was, and today I found out the answer...😮
2/4
@LappoSergey from @MyceliumCom found the bug, with some help from @LeoWandersleb. He quietly released a blog post detailing the bug, and it's VERY serious.

The Ledger can be fooled into sending away ALL funds from ALL your accounts, with NO warning from the device...🤐
3/4
This is how it can be exploited:
a. The user initiates a payment on malicious software
b. ALL coins get used as inputs
c. The Ledger gets fooled into accepting a malicious change address (this fault behavior is caused by simply leaving the derivation path empty)
...😶
Read 4 tweets

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#bitcoin #LightningNetwork Multi-party channels (NOT channel factories) offers massive benefits over standard 2 party channels.
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Finding path becomes MUCH MUCH easier.
From a routing perspective, if you have 1 BTC in a MP-channel, it can be routed to
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Dan Honig
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Thread: It's probably silly to do a CRAZY LONG tweet storm about being named a non-resident fellow @CGDev. But I feel really touched. CGD has been a special place for me for a good part of my professional life. 1/
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The Columbia Bugle 🇺🇸
@ColumbiaBugle
#THREAD CBP Releases Fiscal Year 2019 Migration Stats

"28 days in Feb we had over 66,000 apprehensions. During this fiscal year, so far today since October we have had over 268,000 apprehensions so far, as compared to the same timeframe last fiscal year, that's a 97% increase."
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DespicableDrew
@DespicableDrew
#THREAD: the #Epstein case vs the #MichaelJackson case: for those talking about "getting away" with "crimes", let's take a look at how (white) privilege really works. And why nobody talks about Epstein, while #MJ is being subjected to another slanderous mockumentary. (1)
For a good comparison, we'll take a look at the timeline of the #Epstein case versus that of the #MJ case. You'll see the differences in approach, treatment and mediatic consequences by yourself. #JusticeforMJ #ExposeTheLiars (2)
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@lewellyn
People have been wanting info about my streaming setup, so here's a bit of information about it... It's nothing masterful, but I do what I can because I must. ;) (Somewhat long #thread) Obligatory stream link: twitch.tv/mattlewellyn #SupportSmallStreamers
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@_hobilu
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