Wednesday, 23 August 2017

Breadwallet and Segwit2x: questions


Breadwallet and Segwit2x/u/aaronvoisine, CEO of Breadwallet:"Breadwallet follows the majority of hashing power on the original PoW algorithm, segwit2x or no, it follows the Nakamoto consensus." (source).Aaron Lasher, CMO of Breadwallet:"if a fork were to happen it will automatically follow the longest chain with the most proof of work." (source)./u/chalash of Breadwallet:"SegWit2x detractors have an enormous incentive to access their "altcoins" as you put it" (source)./u/samuraisam, CTO of Breadwallet:"your money is safe in breadwallet in the event of a fork." (source)The reply of /u/luke-jr:"You keep making statements to the effect that you will NOT handle the 2X altcoin "elegantly"." (source).The launch of segwit2x-coinIn November, a new altcoin is planned to launch that shares the same history as the Bitcoin blockchain similar to BCH. I will be referring to this altcoin as segwit2x-coin for clarity. Currently, about 90% of all hash power is signalling to mine segwit2x after its launch, in accordance with the New-York Agreement ("NYA"), an agreement struck between Bitcoin miners and some companies operating in the Bitcoin space.Considering the following sequence of events:Breadwallet operates from blocks seen as valid by nodes that run Bitcoin software as published by the Bitcoin developers ("Bitcoin Core") on bitcoin.org ("bitcoin.org-Bitcoin");Segwit2x is launched and segwit2x-coin comes into existence;The majority of the hash power withdraws from mining Bitcoin and starts mining segwit2x-coin.QuestionsAfter the above sequence of events:Does breadwallet consider segwit2x-coin to be the true and actual Bitcoin, and consider bitcoin.org-Bitcoin to be an altcoin?Will breadwallet be operating on blocks seen as valid according to bitcoin.org-Bitcoin nodes or will breadwallet be operating on blocks seen as valid according to nodes running the btc1-segwit2x software?Will breadwallet be reporting segwit2x-coin balances using btc1-segwit2x nodes, or will breadwallet report Bitcoin balances using the bitcoin.org-Bitcoin software?When transacting using breadwallet, will a transaction be broadcast to btc1-segwit2x nodes or to bitcoin.org-Bitcoin nodes?Will breadwallet implement two-way replay protection to avoid users from losing funds?Clarification is highly welcomed. via /r/Bitcoin http://bit.ly/2ioSKjI

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