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RE: Segwit may yet cause problems ahead.

in #bitcoin7 years ago

On page 2 of the white paper, Satoshi Nakamoto explained:

"we define an electronic coin as a chain of digital signatures"

That's what Satoshi wrote.. my concern is that if we use segwit to broadcast a transaction we will be voluntarily removing one of Satoshi's key protections which is: having the Transaction Hash, previous owner, new owner's pub key and signature all in one immutable place.

If Bitcoin is "a chain of digital signatures" and you move the location of the signatures to a block attached to the chain (but not technically within it) then what are you left with?

I don't know what it is but I know it's not Satoshi's Bitcoin. It's not the Bitcoin that some of the smartest and brightest people on the planet got so excited about just a few years ago..

I strongly wish to be corrected in my analysis and I dearly hope that I am wrong... but, alas.. I fear I have stumbled upon a real problem in the road ahead...