Bitcoin Forum

I wonder what Satoshi would've said about a handful of rich chinese men being captains of the entire btc ship

https://medium.com/@bitcoinroundtable/51b0afb29a3a#.3dvx9xy1r

i guess he'd be saying

http://static.fjcdn.com/pictures/I+don+t+even+want+to+see+it_422696_4056515.jpg

Leaked draft:

On February 21st, 2016, in Hong Kong’s Cyberport, representatives from the bitcoin industry and members of the development community have agreed on the following points:
We understand that SegWit continues to be developed actively as a soft-fork and is likely to proceed towards release over the next two months, as originally scheduled.

We will continue to work with the entire Bitcoin protocol development community to develop, in public, a safe hard-fork based on the improvements in SegWit.

The Bitcoin Core contributors present at the Bitcoin Roundtable commit to make a good faith effort to have an implementation of such a hard-fork ready for merge within three months after the release of SegWit.

This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the maximum effective block size, to more than 2 MB and less than 4 MB, and will only be adopted with a broad support across the entire Bitcoin community. -We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.

We will not run Bitcoin Classic. We will only run Bitcoin Core-compatible consensus systems in production for the foreseeable future.
We are committed to scaling technologies which use block space more efficiently, such as Schnorr multisig.

Based on the above points, the timeline will likely follow the below dates.

SegWit is expected to be released in April 2016.

The code for the hard-fork will therefore be available by July 2016.

If there is strong community support, the hard-fork activation will likely happen around July 2017.

The undersigned support this roadmap.

i don't get it what's the HF for?

So the Chinese ship-captains still have to rely on strong community support? Isn't that what Satoshi proposed in the original whitepaper? Honestly, I'm OK with this - I don't really care how candidates for community consideration are crafted*, so long as the community decision making process outlined by Satoshi in the whitepaper is maintained.

* ... though next time, a little less acrimony would be nice.

That statement reads like they're going to get their bottoms spanked if they don't go full CoreBorg. A year and a half before a capacity increase? And what does 'effective' block size mean?

Regardless of that I don't really see what other form 'consensus' could take unless you poll every spotty pot buyer too.

does this line imply 2MB + segwit  or just segwit

its not clear

First segwit, then hard fork.

Very bullish news! On top of this, halving incoming! New ATH will be reached.

I hope first hard fork, then segwit. segwit will need to change a lot of softwares ,it is more risky.

so segwit apply to every future limit increase, if they are done segwit on 1mb, then what will be the hard fork about? increase to 4mb or to 2mb? because segwit is already 2mb basically

If he wanted to be bitcoin king he could design Bitcoin diffrently and kept his position as supreme ruler. He probably knew that situation like this will happen sooner or later.
There is no way that in independent economy such a bitcoin, wealth will be distributed equally. There will gonna be smarter and richer individuals leading the race.

I'd like to see a conference organised with people from different sides coming together and talking things over. This just seems like a Core fan parade.

This conference included miners who have approximately 90% of the hashing power.

What's hard to understand? If segwit makes a 1mb block capable of 1.6mb worth of transactions, then the hard fork to 2mb would make those blocks capable of 3.2mb worth of transactions.

So about three people, then?

I could tell you it was more, but it is enough to tell you that they are the ones deciding :)

Indeed. I'm glad that there are now other coins which are actually decentralised.

Do you think Ethereum is decentralized? It has a foundation and actively developed. It is supported by several companies.