Bitcoin Unlimited visit GDAX (aka Coinbase)

Ticker

1 BTC = $38301.86 USD  (via Coinbase)
1 ETH = $2260.99 USD  (via Coinbase)
1 LTC = $133.14 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

x-post

Quick update from Bitcoin Unlimited Slack, by Peter Rizun:

@jake and I just presented at Coinbase. I think it all went really well and that we won over a lot of people.

Some initial thoughts:

  • Exchanges/wallets like Coinbase will absolutely support the larger block chain regardless of their ideology because they have a fiduciary duty to preserve the assets of their customers.

  • If a minority chain survives, they will support this chain too, and allow things to play out naturally. In this event, it is very likely in my opinion that they would be referred to as something neutral like BTC-u and BTC-c.

  • Coinbase would rather the minority chain quickly die, to avoid the complexity that would come with two chains. Initially, I thought there was a "moral" argument against killing the weaker chain, but I'm beginning to change my mind. (Regardless, I think 99{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} chance the weaker chain dies from natural causes anyways).

  • Coinbase's biggest concern is "replay risk." We need to work with them to come up with a plan to deal with this risk.

  • Although I explained to them that the future is one with lots of "genetic diversity" with respect to node software, there is still concern with the quality of our process in terms of our production releases. Two ideas were: (a) an audit of the BU code by an expert third-party, (b) the use of "fuzzing tests" to subject our code to a wide range of random inputs to look for problems.

  • A lot of people at Coinbase want to see the ecosystem develop second-layer solutions (e.g., payment channels, LN, etc). We need to be clear that we support permissionless innovation in this area and if that means creating a new non-malleable transaction format in the future, that we will support that.

  • A lot of people were blind to what BU was about (some thought we were against second layers, some thought there was no block size limit in BU, some thought we put the miners in complete control, some thought we wanted to replace Core as the "one true Bitcoin," etc.)

submitted by /u/CosmicHemorroid
[link] [comments]

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $38301.86 USD  (via Coinbase)
1 ETH = $2260.99 USD  (via Coinbase)
1 LTC = $133.14 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Leave a Reply