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by nullc 1614 days ago
That isn't how Bitcoin works. Miners can't violate the protocol, since the protocol decides what is and isn't mining.

Wright wants a version of Bitcoin created with a backdoor to transaction authentication that lets him take coins without presenting the required credentials. If he created such a version and convinced some miners to run it, they'd simply stop producing blocks (at least from the perspective of anyone who didn't also adopt his backdoor).

So the situation you imagine would just result in hashrate going down-- which can be a bit of an an annoyance since it slows down transaction settlement temporarily, but isn't a dire issue (e.g. Bitcoin lost on the order of half its hash power for a while after china issued a ban).

In any case, if Wright shared your theory and was acting in good faith the target of his actions would be miners and not volunteer open source developers. He's stated outright in public that he expects the ruinous cost of his litigation to destroy the lives of his targets.

1 comments

We will see how courts will decide. Right now it's just a presumptions on how things can roll out.
What is a presumption? The targets and content of Wright's lawsuit are not presumptions.

The nature of Bitcoin's operation is not a presumption-- the code is open and anyone is free to go look at how it works.