It is incorrect. SegWit only takes a small overhead of a few percent due to being wrapped in P2SH. The primary argument that is being written incorrectly has to do with the primary motivation of a limit. Several people (including me) believe that the only purpose of the limit is to prevent a rogue miner from creating a gigantic block. These people (including me) believe the network should never operate anywhere *near* this limit. With SegWit this limit is extended to 4mb, while the practical maximum transaction rate is raised only by 1.7x. Regardless, it is not a particularly valid criticism, as neither a single 4mb block nor a single 32mb block would serve as a viable DoS attack. I believe the primary problem with SegWit is that it incentives miners not to download witness data as I have explained here: https://bitcrust.org/blog-incentive-shift-segwit.html This is without doubt bad in the long term for the security of bitcoin and entirely preventable by using another malleabilty fix like BIP140. Tomas bitcrust
On Thu, Jul 13, 2017, at 23:23, Lucas Clemente Vella via bitcoin-discuss wrote:> I just read on a Reddit post by a SegWit opposer that it increases the badwitdth and storage needs to 400% of current needs, while allowing for 160% of the number number of transactions. Is that true? Is 240% more data the price we pay for preventing non-updated nodes from forking the network?> If that is true, isn't that worse in the long term (security and centralization-wise) than simply hardforking into a better transaction format (given appropriate miner consensus)? Maybe to BIP-134, maybe to something else fixing current transaction issues (malleability, non-linear verification cost, verbosity, etc)?> > -- > Lucas Clemente Vella > [email protected] > _________________________________________________ > bitcoin-discuss mailing list > [email protected] > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-discuss
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