What are your opinions on this? Will the block size problem be resolved or will the halving happen first?
If history is any indication, then the halving will first commence. |
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Well, at one point and time autos were in the same boat. 100% of the population traveled by horse and buggy. There were no gas stations, and roads weren't equipment for gasoline powered motorcars.
Fiat isn't worthless yet, but that is the direction. Once the people of this planet (and I use that term loosely) awaken to the Ponzi scheme being perpetrated by the central bank, they won't want US Dollars, Euro, or Yen. The people will demand cryptocurrencies like Bitcoin.
These new digital currencies will grow to become more popular and more important than the internet. You are in the right place, at the right time, to witness the liberation of mankind from its chains of fiat bondage.
1. If I have to pay my mortgage, taxes, food bills in dollars I will want dollars. If I'm also being paid in dollars then why the hell would I want to convert my hard earned cash into an intermediary and take a hit on commission fees? 2. If you think your, or any, government will let Bitcoin replace it's own currency then you are delusional. It will never, ever, ever happen. 3. I accept that you may make money by investing (gambling) in Bitcoin, but if you want to protect yourself from a financial collapse you should buy something like gold instead. Should the worse thing happen you will have something shiny for your efforts. 1. The transition to cryptocurrencies will be a slow process that will occur over many decades. The value of these currencies will grow as the network effect increases. Yes, today you are correct, it is tedious and somewhat impractical. But so was downloading a movie or sending an email in 1994. 2. This is a valid point. But I don't think bitcoin will replace fiat. I believe bitcoin will be co-opted by central banks until it is under their full regulatory control. It will be emerging cryptocurrencies that will slowly chip away at this financial establishment rule. 3. I own very little Bitcoin. But I am investing in gold; a rare digital gold. But that is a discussion for another forum. |
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What is wrong with Bitcoin Core? I am new here so..
They are owned by Blockstream™. i wish gavin would not have lobbied exchanges or miners first. as that is a sign to force it before consensus.. though everyone seems to want 2mb.. and dont want to wait a year for blockstream to move their asses.. there should atleast be a push to get user adoption of the 2mb first.. before forcing it definetly not delaying user adoption either
Gavin works for Coinbase. So, it's a PAID lobby. Coinbase works for investors(we know who they are). The investors wants to recover the investments asap. How can they do that? By having more control over BTC. Let's not forget that the Coinbase's investors are the same as the Bitstamp investors.  This is the truth whether anyone wants to believe it or not. Gavin is a paid puppet that works for the puppet masters (we know who they are) writing the paychecks. |
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They're gone, nothing you can do about it. Bitcoin doesn't work like this, you can't just get it back.
they are not even bitcoin, it's a shitcoin i have plenty of that like genesiscoin stuck on poloniex, and they were worth more at the time Why do you call it a shitcoin may I seriously ask. Maria. It's a moniker that some people use to show distaste for alternative currencies. This is the bitcoin forum. There is an alternative currency board for these discussions. https://bitcointalk.org/index.php?board=67.0 |
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So, let me see if I have understood this correctly.
On the one side we have fiat currency, backed up by your government, maybe backed up by other countries, possibly the IMF too. Used by 100% of the population of your country and probably many that aren't.
On the other side we have Bitcoin, backed up by nobody and used by less than 1/1000th of the population of any country. Mainly used by criminals and ohh, most people seem to only care what it's worth against the dollar, which I'm sure means that most users seem to only care about making money in a fiat currency?
And yet you say fiat paper is worthless?
Well, at one point and time autos were in the same boat. 100% of the population traveled by horse and buggy. There were no gas stations, and roads weren't equipment for gasoline powered motorcars. Fiat isn't worthless yet, but that is the direction. Once the people of this planet (and I use that term loosely) awaken to the Ponzi scheme being perpetrated by the central banks, they won't want US Dollars, Euro, or Yen. The people will demand cryptocurrencies like Bitcoin. These new digital currencies will grow to become more popular and more important than the internet. You are in the right place, at the right time, to witness the liberation of mankind from its chains of fiat bondage. |
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The average non technical user just wants bitcoin to work, and work well. We believe in the technology and in the expertise of those who invented it and continue to develop it. But we may not have the technical knowledge to give an in-depth explanation as to weather we want 2mb blocks or 8mb blocks, or for things to stay as they are.
but as i said we just want it to work and everyone arguing over the details is not working...... Yes i understand that people have differences of opinion on the way forward, but everyone lets not destroy this one chance to make a massive difference in the world....
Don't worry! If the Bitcoin Classic coup is successful, and bitcoin as we know it is destroyed, there are more than a dozen other digital currencies ready to take its place. Each new entrant will learn from the mistakes of its predecessor, thereby allowing/encouraging these new and emerging currencies to innovate and evolve. In many governments, there is a healthy separation between church and state. In cryptocurrency, we need separation between development and third-party businesses. If you look at the current problems facing core, the main issues are conflicts of interest which hamper benevolent decision making. If core moves to 2MB blocks, then the need for Blockstream's lightning network diminishes. By keeping the blocksize at 1MB, then the need for Blockstream increases. So this mother of all business conflicts threatens to undermine the entire bitcoin economy. Will Core do the right thing, or will they watch as the entire bitcoin economy goes up in smoke? Only time will tell. |
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but if there will be two chains and my bitcoins will be on both of them wouldnt it mean that i could actually spend my bitcoins twice then on the first and the second chain?
That depends. It is possible that there will be a time period in which you would be able to move the coins on the minority chain (if it has sufficient hashrate). i see, but wouldnt it break the whole system, as if i double spend the coins at that time it would mean that more bitcoins would be in circulation and thus there would be more than 21 million coins?? Don't feel bad. The Founder and CEO of Coinbase doesn't understand the difference between a soft fork and a hard fork either!   http://bitcoin.stackexchange.com/questions/30817/what-is-a-soft-fork |
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So yeah i did some readings about the whole thing that is happening with the block size problem. So if the miners would switch from core to classic would all my bitcoins become worthless or it still would stay safely in my wallet without any affect?
The bitcoins you have now on the blockchain would be secure. But the overall value of bitcoin will decline massively if the Classic coup is successful. Instead of applying rocket science complexity to softfork bitcoin, core needs a simple 2MB hard fork. |
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The's not exactly decisive, but some devs have had death threats over their support for a particular flavor of wallet, so he's playing safe and supporting both everything and nothing. He could have stayed silent, or said he was neutral, but now he can say he supported whichever wallet wins after its won.
This rings true. But how does that stance help bitcoin, how does that attitude contribute to the common good, how does that position serve anyone but himself? |
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This is terrific news! If you ever have any questions, you know how to reach me on Facebook. I am also available for Skype interviews! |
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We really need to raise the block limit or Bitcoin is never going to go anywhere. People just don't realise.
Keeping the blocksize at 1MB fuels the need for Blockstream's technology. Core's severe business conflicts could become Bitcoin's undoing. |
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when Bitcoin takes over anyone left holding fiat will get done like a dogs dinner
I agree that cryptocurrencies will eventually replace Ponzi fiat, but there is something backing fiat; the world's militaries. |
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I understand his position, Andreas is a nice guy and believes in people choosing what's better for them, unfortunately most people are stupid and don't understand the details, and the big blocks and cheaper fees are way easier to sell than some technical stuff about the node decentralization aspect.
Lets just hope things turn out ok and we stay with Core.
This video explains why Core is so stubbornly sticking with 1MB blocks. This overly-complex Blockstream scheme will have far less demand if Core hard forks to 2MB.  https://www.youtube.com/watch?v=jE_elgnIw3MMaybe these guys will eventually decide to do the right thing and, "put the needs of the wider bitcoin community ahead of their own personal Blockstream ambitions?" |
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this was and one of the reasons that Hearn attack chinese miners. The other reason is that he is a racist.
Well it was more likely that he was getting paid to criticize other miners in an attempt to get them to either quit or switch their blockchain, but it is fairly obvious that the method used by Hearn didn't work and now we have the scenario that we have before us right now. Its more entertaining to see that he's had his project fail, and now its not even gaining support from the people he needs the most. Fifty is the new forty, and Gavin is the new Hearn. Mark my words, "they" got to him. He's their puppet now. |
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I believe he said there will be 10,000 alt coins ?
Yes, there will be - even more. Alternative currencies will become much like webpages are today in terms of valuations. Some will be mere parked pages, others perpetually under construction, some pornographic, all ranges of colors and flavors of complexity. And there will be a few Googles and Facebooks in the bunch as well. When the people of this planet wake up to the Ponzi scheme that's been perpetrated upon them by the central banks for decades, they won't want US Dollars, Euros, or Yen. The people will demand digital currencies. |
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I agree that supporting a variety of reputable digital currencies is a good thing. We need multiple blockchains to mitigate the risks of having a single point of failure in Bitcoin. It's true, Altcoins provide yet another layer of decentralization.
However, Bitcoin is also a "consumer brand" and creating three different variations is going to cause dilution, and make things extremely confusing for exchanges, merchants, pool operators, and end users.
So while part of Antonopoulos' statement is correct, in my mind there can only be one authentic Bitcoin. Supporting both Classic and Core is supporting Bitcoin's ultimate destruction.
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When the people of this planet wake up to the Ponzi scheme that's been perpetrated upon them by the central banks for decades, they won't want US Dollars, Euros, or Yen. The people will demand digital currencies like Bitcoin and Goldcoin.
The chances that Bitcoin and its offshoots (altcoins) disappears and becomes worthless is zero. As you learn more about decentralized currencies, you will come to understand why this is true. You are in the right place, at the right time.
The people of this community are intelligent, ready, and able, to become the pioneers in the liberation of mankind.
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