Looks like R3 is biting the dust big time. Private blockchains don't work. $59 million spend and they finally get it. https://cointelegraph.com/news/we-dont-need-blockchain-r3-consortium-after-59-million-researchHowever, extended functions on the blockchain, the Bitcoin blockchain, have infinite potential. So-called 'layer 2' projects remain a clear path to some very exciting function. The Omni Project remains an important extension of Bitcoin. This has quietly been being built over years without pump and hype. These systems will crush stupid efforts like R3 because they are coupled with the real blockchain. They make Bitcoin better and more powerful. Presently well over $100M in assets (e.g. MaidSafe, Tether, et cetera) are running on this platform. It remains the first, and still largest layer 2 platform. Go to Poloninex and get a few Omni now. 5 years from now, you'll be laughing your head off. CounterParty is similar. They build on and extend the real blockchain. Unlike R3 who failed to understand why private blockchains are little more than very inefficient databases. |
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Just before Hearn left he floated Bitcoin XT as a scaling solution. While it got a significant showing of 'votes', it never really took off. A major reason was due to all the DDOSing of XT nodes.
This is pure and simple corruption. If we are taking a vote, we have to let the vote be free and fair or we won't know the true result. The Blockstream team is full of this kind of corruption and BS.
Same goes for this forum. The heavy censorship here is totally corrupt. They were trying to silence any opinion against SegWit.
Even if I loved SegWit technically, even if it did provide some good advantage, I wouldn't go that direction. The people behind that side of the story have repeatedly proven themselves untrustworthy. SegWit/Blockstream/Core/Lightning are corrupt. They will lie, cheat and steal to take over the network. I don't want them in charge.
We need to get Blockstream out of the Core influence.
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Bitcoin isn't built to be used as a currency
Bitcoin was actually built by its creator Satoshi to be a currency. Then Greg Maxwell came along and decided to convert the system into a settlement platform instead. He forced the network fees up >>1000% to drive traffic into his Blockstream owned private lightning network. The whole fucking thing is a scam. 8MB blocks don't cause 'centralization'. That is total bullshit. There is no need to provide for nodes with very horrible bandwidth. People all over the world are streaming bandwidth heavy movies all day long. 8MB is nothing. If we lose a few nodes on 1200 baud modems, it doesn't amount to 'centralization'. |
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if the sender and receiver both have an account in the same exchange the transfer fee is 0
And this 'exchange' is owned by Blockstream - who decided not to charge any fee? Yeah, right. And pigs fly out of my ass too. |
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Bitcoin was intended to be a new form of money and one that you could use on daily bases which includes many transactions for a very small fee. Today i do not see much of this. I see a storage of value and a place to invest, but i don not find it that exciting as the idea it once was.
Yep, Satoshi wanted microtransactions. But some idiot named Maxwell thinks the network is better when configured to serve the purpose he personally is interested in. Maxwell thinks a settlement layer is the best mode. He doesn't like the other modes. Since Maxwell holds the commit access, he can push his SegWit and LN onto the network and call these 'updates' while and the same time telling everyone to go start their changes as a new fork. SegWit is the alt. Don't let Core tell you they are improving bitcoin. They are building their alt right on top of the bitcoin protocol. LN and SegWit are alts. Just because 'Core' is behind them, don't get suckered into thinking that is bitcoin. Satoshi anticipated 8MB or bigger blocks and microtransactions. Somehow, Maxwell become more powerful than Satoshi. |
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It is over folks. The Bitcoin has now 'jumped the shark'. Because the transaction fee is now >.40USD, bitcoin transactions are more expensive than Visa swipe fees. Core has successfully forced a fee market of very expensive transactions by preventing others from increasing transaction capacity via larger blocks. Satoshi wanted big blocks. Yet, core has wrestled control and forced an unnecessary limit to block size thus creating their fee market. All this with the idea of later providing relief via an off chain fee to go into their pockets. Lightning is years away and fees are only going up from here. Bitcoin is finished. |
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-snip-
Your post is a classic example of a useless shitpost. Please stop responding in threads where the subject is out of your league. Lauda should be banned. What a fucktard to talk down to people like that. This forum is full of shitheads and Lauda is their leader. |
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If 95% signal SegWit - then it goes active. By what definition is this 95% = 'consensus'? Who said this? What if the 5% don't agree with the 95% rule? What if they only reach 87% and change the rule to 85%? Where is it written that consensus is 95%?
Of course the real number is 51% and some time after a fork to settle which is the dominant chain. 95% is such an artificial thing.
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He left like a bitch, and he ended up being remembered as a bitch.
This may be true, however he was right that the network would come to a screeching halt, over the next few years. Bitcoin price is just what speculators make it. It does not indicate the functional progress/success of the system. The system is fucked because the MemPool is fucked, transaction times are fucked, fees are fucked. So fucked that the companies with loads of money to spend developing cool shit are not spending that money developing bitcoin related stuff but moving away. Circle is moving their $138Million away from bitcoin development because Maxwell is a fucking dick. This is a fact. Say what you like about SegWit and LN, and 8MB blocks, but facts remain facts. Companies with money are not going to build infrastructure that targets bitcoin because network congestion has totally crippled the system. This is past tense. It already happened. With 4MB blocks last year, bitcoin price would probably be at $3000 now. Not only that, but loads of talent would be getting a check to build bitcoin related infrastructure (like wallets, etc). All that work is NOT being done. Armory is out of business. Tresor is fucked. AirBitz is abandoning their wallet. The whole god-damned thing stopped - about the time Hearn left. Maxwell and his love of proprietary off chain scaling has fucked this network. Facts are facts. No bullshit lines from Holliday are going to change that. |
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We should go to 8MB today.
You can. What are you waiting for? Go build a block bigger than 1MB. You don't need anyone's permission. Starting another new thread about it isn't going to change anyone's mind. If the past two years hasn't convinced you of that, then I don't know what to say. If your argument is so strong, and you believe bigger blocks are far superior, the market will obviously choose the chain with bigger blocks. Just do it. Can't do it because Greg Maxwell needs to cripple the network so their will be more demand for his Lightning off chain approach. The thing is, if Greg agrees to go to 8MB today, blocks won't be full again until Lightning is ready. That way, they can have their off chain scaling approach AND no network congestion for the next 3 - 5 years. You don't need Greg Maxwell's permission. This is Bitcoin. The code is open source. There is even a version that allows for larger block sizes. It's called Bitcoin Unlimited. All you need to do is run that software with whatever perimeter you want for the block size, then mine a block bigger than 1MB. That's it. I think you are afraid to put your money where your mouth is. If the market truly wants larger blocks, the person who starts mining them is in a position to earn a ton of block rewards for himself before the rest of the miners move over to that fork. It seems like a no-brainer to me. Actions speak louder than words. If you truly believed what you keep repeating, nothing would stop you. That is a very clever gimmick. Everyone understands quite clearly why this argument is just a convenient bit of nonsense to support the small block side. You fool nobody bringing this silly bit of schenanigans |
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Fuck you Lauda - you are so boring.
I wonder who paid for these posts.  None of those have anything to do with the block size limit. Most were hacked/scam/illegal. Try again.  ChangeTip failed, along with all other microtransaction applications because tx fee went from .0000 US cents to about 20 US cents. Many, many other application that are not settlement application also failed as a result of Maxwell/core/blockstream intentionally corrupting the system to drive demand for their LN which doesn't even exist today. |
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Why does Bitcoin need to be changed. Are you all implying that Satoshi was incompetent?
No. Actually Satoshi had it right. The original Bitcoin had blocks without blocksize limit with full anticipation of on chain scaling. Let's go back to the way Satoshi wanted it. Big blocks. Small blocks was intended as a temporary limit to control spam until an alternative was devised. |
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That useless company is led by a genius with a good track record and they had $138 to spend on bitcoin compatible project development. Now they saw how bitcoin is run by Greg Maxwell and they saw a disaster that cannot be used for a profitable enterprise - so they left. Along with many, many others.
The CEO of Circle, a genius?  That is just a bad joke. I have to repeat myself here: Who are these "many many others"?
Fuck you Lauda - you are so boring. Here are some of the many, many others: https://bitcointalk.org/index.php?topic=1026885.0 There are still further others too. |
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We should go to 8MB today.
You can. What are you waiting for? Go build a block bigger than 1MB. You don't need anyone's permission. Starting another new thread about it isn't going to change anyone's mind. If the past two years hasn't convinced you of that, then I don't know what to say. If your argument is so strong, and you believe bigger blocks are far superior, the market will obviously choose the chain with bigger blocks. Just do it. Can't do it because Greg Maxwell needs to cripple the network so their will be more demand for his Lightning off chain approach. The thing is, if Greg agrees to go to 8MB today, blocks won't be full again until Lightning is ready. That way, they can have their off chain scaling approach AND no network congestion for the next 3 - 5 years. |
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Circle is a useless company that is on a road to failure.
That useless company is led by a genius with a good track record and they had $138 to spend on bitcoin compatible project development. Now they saw how bitcoin is run by Greg Maxwell and they saw a disaster that cannot be used for a profitable enterprise - so they left. Along with many, many others. |
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Two years ago he threw a bitch fit and said if we don't increase blocksize, the network will die. Now, Circle is taking their $138 million and leaving along with many, many others. The congestion has jammed up the network and it is no longer useful. While we still have our pure values of decentralization, we also have a dysfunctional system that no longer serves many of the original intents.
We should go to 8MB today. Keep building LN so we don't have to one day go to 16MB. That way, all involved in making blockchain projects will stay with Bitcoin instead of running away to other FinTech like Jeremy Allaire.
We CAN have it both ways! 8MB is the new 'small block'.
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Another FUD thread by the professional XT/Classic/Unlimited trolls. The disciples of Roger Ver are panicking that Ver might run out of funds to pay them, when SegWit activates and UnimitedCoin goes down the drain.
Everyone who has at least basic technological knowledge will agree that SegWit is great step forward in terms of security and scalability of Bitcoin. Ver is trying to manufacture dissent out of pure self-interest - he is heavily invested in altcoin ventures that will loose their value, once SegWit and LightningNetworks increase Bitcoin's capacity and flexibility. The whole blockstream-takeover and censorship propaganda is a joke - not even a good one.
The disciples of Andresen/Hearn/Ver are repeating the same nonsense over and over again. However development work for their stellar UnlimitedCoin client is very limited: Cloning an outdated Bitcoin codebase and doing a single change that will destroy Bitcoin's network decentralization.
ya.ya.yo!
ya.ya.yo! = world class dumbass. Everyone with tech knowledge does not think SegWit is a great step forward. That claim is the same rubbish that nearly all your claims tend to be. Ver's self interest in alts has nothing at all to do with most of the anti SegWit. I don't know Ver and don't hold any alt. But I can tell you SegWit does nothing more than hijack Bitcoin to become the proprietary network of the Blockstream corporation. Core is also cloning Bitcoin to make their proposed alt. SegWit is a fucking altcoin. SegWit is not Bitcoin. Once GMax attached SegWit to Bitcoin, Blockstream is forever your daddy. Let's get back to the original Bitcoin which did not have 1MB limit. That is Bitcoin. That is what Satoshi invented. Satoshi did not invent SegWit and the ridiculous LN. Those are alt systems. Go launch those on your own fork. Taking over Bitcoin to launch your stupid alt is just wrong. 'destroy Bitcoin decentralization' - This is precisely how you know Core is full of shit. This argument is absurd. On this point alone, people should resist SegWit. SegWit doesn't serve a problem with Bitcoin. SegWit only enables a Blockstream takeover of Bitcoin. |
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Why does everyone just stand around doing nothing while nullc / Blockstream / GMax takes over Bitcoin?
Are you just here to shout at everyone else or do you have genuine solutions? I have a solution: kick fucking Greg Maxwell in the fucking head and set the block limit to 8MB right away. Then, go work on Lightning in a non proprietary open source way for the next two years. Dissolve Blockstream and never let a private entity take control of Core commit access again. That is my solution. Glad you asked. |
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2. Some member who knows about this can't do anything because they don't really understand what happens (also happens to me)
Oh, OK. Sheep then. The answer to the question is 'yes'. Yes, we are all a fucking bunch of sheep. |
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Frankly, I'm not sad about it. ChangeTip was a centralized service that actually undermined real Bitcoin use and if used imposed obstacles, risks and costs on tipping. It also reduced privacy. To tip another person all you need is a Bitcoin address. I don't see any benefit of using ChangeTip for this purpose and I wouldn't have thrown seed money at such kind of business ($3.5m for what? - a simple app). It doesn't surprise me that it failed to gain traction, because a real Bitcoiner doesn't use it and all other people can't see a reason to register at a service to receive minuscule amounts of a currency they are not familiar with.
So I shed no tear seeing ChangeTip shutting down. It's about time to use the real thing again. And even the lolly purchasers will soon be happy after SegWit and LightningNetworks are going live.
ya.ya.yo!
SegWit and Lightning are really cool altcoins - but they are not Bitcoin. ChangeTip would have been fine if G.Max didn't cripple Bitcoin so it can't do microtransactions any longer. Blockstream did this so they can charge money for the same traffic on their private network. Fuckers. |
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