On Tuesday 05 May 2020 10:17:37 Antoine Riard via bitcoin-dev wrote:
> Trust-minimization of Bitcoin security model has always relied first and
> above on running a full-node. This current paradigm may be shifted by LN
> where fast, affordable, confidential, censorship-resistant payment services
> may attract a lot of adoption without users running a full-node.
No, it cannot be shifted. This would compromise Bitcoin itself, which for
security depends on the assumption that a supermajority of the economy is
verifying their incoming transactions using their own full node.
Hi Luke,
I have heard this claim made several times but have never understood the argument behind it. The question I always have is: If I get scammed by not verifying my incoming transactions properly how can this affect anyone else? It's very unintuative. I've been scammed several times in my life in fiat currency transactions but as far as I could tell it never negatively affected the currency overall!
The links you point and from what I've seen you say before refer to "miner control" as the culprit. My only thought is that this is because a light client could follow a dishonest majority of hash power chain. But this just brings me back to the question. If, instead of BTC, I get a payment in some miner scamcoin on their dishonest fork (but I think it's BTC because I'm running a light client) that still seems to only to damage me. Where does the side effect onto others on the network come from?
Cheers,
LL