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1  Bitcoin / Development & Technical Discussion / Is the only difference between BTC and BCC the 8 MB block? on: December 20, 2017, 03:53:18 PM
If so, what is preventing BTC developers from watching how well the BCC fork plays out and, if it has no bugs or issues, adopting an 8MB block for itself and supplanting the BCC advantage?
2  Bitcoin / Bitcoin Discussion / Is the wisdom of the crowd (Bitcoin) better than a single monarch (Litecoin)? on: December 16, 2017, 10:22:12 AM
This is a branch off of my thread "Politics behind Bitcoin development?"

https://bitcointalk.org/index.php?topic=2560601.0;topicseen

In my mind the really salient difference between Bitcoin and Litecoin is not the underlying technology, but rather that Bitcoin is run/managed by a somewhat decentralized political system in which the mining nodes determine which current fork is supported, whereas Litecoin has a single person, Charles Lee, controls the development of Litecoin.

The wisdom of crowds is the best vehicle for aggregating distributed knowledge--market prices are a prime example of this--when incentives are correct.  However, when incentives are not correct or there are coordination problems or public choice issues rear their head, it might be better to have a single individual controlling the system.

Thoughts?
3  Bitcoin / Bitcoin Discussion / Politics behind Bitcoin development? on: December 10, 2017, 01:47:26 PM
I understand that a fork results when a minority group decides not to concur with the consensus changes (or lack thereof) in the underlying Bitcoin Protocol. 

Who are the people that participate in the "consensus"?  How are these votes cast?  What happens to dissenting voices that don't want a fork? 
4  Bitcoin / Development & Technical Discussion / Why is litecoin faster than bitcoin? What are the tradeoffs? on: December 10, 2017, 03:29:31 AM
Okay, so none of the articles I've read online really are answering my fundamental question:  Why is is the transaction processing speed of litecoin faster than that of bitcoin?
 
I understand the fundamental differences between the two:

1) 84 million max litecoin vs. 21 million max bitcoin
2) Scrypt vs. SHA256--the correllary being that litecoin prevents specialized bitcoin mining hardware
3) Bitcoin has the first mover advantage and is generally more popular
4) Bitcoin was created by Satoshi Nakamoto and, since his disappearance, the project is run by consensus in the bitcoin world.  Litecoin was created and is run by a single individual, Charlie Lee.
 
What I don't understand is why it takes litecoin only 2.5 minutes to confirm a transaction/generate a block vs. 10 minutes for bitcoin?
 
Does litecoin use superior technology?  If so, why has bitcoin not adopted it? 

Does litecoin cut corners regarding the security of the transaction? 
 
The economist in me is trying to understand the tradeoff here.
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