Ethereum Drama is just getting started.  Great! But all very Turing complete and so smart .... |
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Well, this is bizarre. Assuming this is true--which is a lot to assume--this would seem to indicate that the miners don't understand the way their power works. Say they switch off to mining Classic_ and trigger the activation; give it a month or whatever, and they start popping out their 2MB blocks, which are then rejected by all non-Classic_ nodes on the network. Unless they convince the rest of the system to switch to an implementation compatible with their consensus rule change, no one else will accept their blocks as valid; all they'll have accomplished is that they've forked themselves onto an altcoin. Not sure why mining pools would even really care all that much about 2MB... What do they think it would do for them? Make their operating costs a bit higher? If they're hoping to see increased adoption cause a price boost, capacity (especially in small amounts) seems like the wrong approach--it's not like 2MB blocks make Bitcoin easier to use, increase its privacy, increase merchant acceptance, or make it possible to buy milk at the grocery store without waiting 10 minutes for a confirmation  But hopefully this is just some bullshit scare and doesn't have any credibility. I'd like to hope that miners are smart enough to not bite the hand that feeds them in an absurd attempt to completely sink themselves. Considering the 1 MB blocks are often full most reasonable folks see the need for a bump to 2 MB and pretty soon. The Chinese miners understand quite well the power they possess, are tired of waiting for larger blocks and seem pissed off. Classic activates 28 days after 750 of the last 1,000 blocks are found by miners running Classic instead of Core. At that point you would have a minority of miners still running Core. We might have two chains existing at the same time for a short period of time but everyone would move to the winning chain. The minority still mining Core would switch or die. It does appear that SegWit would have to be merged into Classic for it to be acceptable to the Chinese coalition. The point is it appears the Chinese may have the power to force a change from Core to Classic. They have been loyal to Core but can only wait so long. And economics & game theory kicks in again. Make your bets now! |
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summary of mindsets
blockstream: "we need to get to a capacity that competes against Visa, they do thousands of transactions a second but they settle in days, bitcoin needs to do the same but in 10 minutes"
community: "so you want to invent LN which settles every.. umm...week, month, never? hmmmm"
blockstream: "we need to fix malleability so people can trust zero confirms"
community: "so you invent RBF to make zero confirm untrustable again"
blockstream: "hardforks are bad because everyone has to move over on day 0"
community: "some people already run implementations with higher limits. after all its a 0byte->Xmb rule change, not a exceed 1mb+ at all costs rule. so people can run, test, bugfix the higher limit implementations even now, giving plenty of time. also softforks require pools to upgrade too before it activates. so its literally the same boat.."
blockstream: "we dont want to dilute the node count with bigger blocks"
community: "segwit also increases the data for nodes. infact there is evidence of 2.8mb blocks.. not only that but segwit introduces pruned no witness mode which will definitely dilute the node count"
blockstream: "a hard fork wants to be 8gb blocks next year, run everyone the world will end if that is allowed"
community: "2mb is an acceptable amount of data and it took alot of 2015 for lots of people to drown out the doomsdays to find a number the majority were happy with. and it will grow NATURALLY as technology and ability grows(slowly). there is no end of days meteor incoming in the next year"
blockstream: "anything not blockstream is an altcoin"
community: "anything connecting to the network of the bitcoin genesis block and 7 years of bitcoin data is not an altcoin"
great post Franky. Yes Should be repeated every day now! |
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This is great news! With segregated witness and lightning networks, Bitcoin will be well prepared to meet future increases in adoption. Core team did an outstanding job and found intelligent solutions for scaling Bitcoin and at the same time increasing network security and efficiency.
The big-blocks-at-all-costs FUD-campaigners have been proven wrong with their doomsday predictions of the Bitcoin network failing after approaching full block capacity. After Segwit and LN are operational, these people will look even more ridiculous with their constant alarmist campaigning against Core.
It's highly encouraging that Core developers persisted in implementing a sustainable and decentralized solution despite the imputations and lies thrown at them by the proponents of a Bitcoin exposed to governmental control.
ya.ya.yo!
Hoping all the best. |
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Well....Bitcoin is not dead! It is actually part of the realm of the "undead." Therefore, it cannot die again....it was, then it was not, yet it is! One cannot kill a zombie unless the head is taken off, but because bitcoin is decentralized, it has many heads! Bitcoin is immortal!
yes and bitcoin is holding the price of $650 at a moment so how can one say that its dead or it will not survive in future, it will be only dead when it will fall to $0. It is dead since nobody can calc the correct fee any more. It should be around 1 or 2 Satoshis... |
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Well if you put it like that, maybe. The main website does talk about block size limit increase, but to my knowledge its currently debated. https://bitcoincore.org/en/2015/12/23/capacity-increases-faq/Many engineers and academics have come out and said that blocksize increase is not feasable. But we need more research on this. firstly that was the golden promise of december 2015.. but in recent months that has been backtracked. even carlton has shown that lukejr and core and blockstream are pretending it was never a guarantee. anyway, those academics.. lol "2mb is bad" right?? but 2.8 good? but 2.8 good? but 2.7 good? but 2.7 good? but 2.8 good? here ill give you some info.. people livestream their online gaming sessions while in a VOIP with their friends and also narrating to viewers of the livestream and i dont hear complaints from youtube or twitch or livestream that the internet isnt good enough for uploads but here goes.. doomsday bottom of the line internet users.. 0.5mbit upload = 37.5mBYTE per 10 minutes. so even at a minimum. a low level node can have a couple connections without issue. but we all know those who want to be full dedicated nodes will have better internet than the minimum. as for the validation processing.. bitcoin works fine on a v1 raspberry Pi.. guess what raspberry Pi has evolved.. so even using raspberry Pi as a baseline benchmark, it can cope. even with the stuff like libsecp256k1 makes the baseline rasberry Pi happy. but if having the other stuff aswell as the blocklimit all combined into 0.13.. then its all good Just to get back on that and skip the blahblah. All good with that? |
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Sad thread.
Absolutely not needed.
Thanx to BS limit supporters....
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German 2nd biggest bank Commerzbank AG Market Cap dropped below BTC ....
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I see "The West" is doing jukes ... one is 5$ above China and one 3-5$ ... their impatience with China grows, I'm wondering when it will break?
One must fall. It's only a matter of time: there's plenty of instability in every fricking market and BTC is not any different. Too many big news lately that need to be digested. ... 1 Trillion buy/sell wall in place from both sides set by their Central Bank. Those rigging motherF'ers are keeping the price tight like a clammed up p ******...  I understand having 1 trillion GBP to sell, but where do they find USD to buy 1 trillion GBP? Last time I checked their foreign reserves were something like a few hundred billion. I don't know, but the pound has had its second big crash in a week, and there are forecasts it could go down to $1.20. Bitcoin jumped up at the same time the pound crashed, and I doubt it's a coincidence. If the pound crashes further there could be further big jumps up for Bitcoin later this week.  Look up how Banks stocks are falling - next bailouts coming in soon... Just cam into my mind: VW now tries to move to more e-cars they found out old Diesel is crap Banks now try more blockchain, found out old SWIFT,.... is crap. |
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first bubble more than 10$ second bubble more than 100$ third bubble more than 1000$ fourth bubble more than 10000$  As I wrote in 2013 The fifth growth spurt.... When there was no block size limit .... |
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The ETH hypers thought the Turing completeness will send ETH value to the moon.
It plays out that the attack univers goes to the moon...
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Sometimes you cannot say it often enough.... hope it helps this time. |
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