44% of the network already switched to 8M blocks

[dothebeats]

I think it is a good thing. More trouble more power ! It is only about decentralization (we are free to do whatever we want in the bitcoin world, so we are free to use (or not use) the bitcoin core version/bitcoin xt version ).\

The # power is what decides this fork, and most of the network's #s comes from China, so is there a decentralization in there? As far as I remember, over 40 percent of the network's # comes from Chinese miners alone.

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[redsn0w]

I think it is a good thing. More trouble more power ! It is only about decentralization (we are free to do whatever we want in the bitcoin world, so we are free to use (or not use) the bitcoin core version/bitcoin xt version ).\

The # power is what decides this fork, and most of the network's #s comes from China, so is there a decentralization in there? As far as I remember, over 40 percent of the network's # comes from Chinese miners alone.

The things should not go in that way, but we should remember that miners without nodes are nothing (it is not a simple question).

[dothebeats]

I think it is a good thing. More trouble more power ! It is only about decentralization (we are free to do whatever we want in the bitcoin world, so we are free to use (or not use) the bitcoin core version/bitcoin xt version ).\

The # power is what decides this fork, and most of the network's #s comes from China, so is there a decentralization in there? As far as I remember, over 40 percent of the network's # comes from Chinese miners alone.

The things should not go in that way, but we should remember that miners without nodes are nothing (it is not a simple question).

Yes, miners without nodes means nothing because there are no entities that can validate the transactions that these miners are pushing, but also keep in mind that the miners themselves, apart from their machine for mining, can create and maintain a node. You get my point. In that way, the transaction validating process is maintained and at the same time, centralization also is present (in the case of Chinese miners.)

[gentlemand]

I still don't get why some people are against bigger blocks.

There are very few fully against apart from a few psychos who will have to come around or go broke. All the controversy is the manner in which block sizes are increased.

[NorrisK]

It's not happening yet, 44% is just a vote, but could happen soon. And if one of the two competing blockchains won't die quickly, ouch...
If I were holding bitcoins now, I'd choose (temporarily) the safety of fiat. I even cancelled my low bids, just in case this turns ugly...

The losing chain will disappear in hours.

This is not even going to happen.. All exchanges will be ready for the switch long before there is even a slight chance that you can spend coins on both chains through exchanges.. Only way to trade on the old fork is privately, but nobody will be interested in that..

[gentlemand]

Only way to trade on the old fork is privately, but nobody will be interested in that..

There'll be a small hard core of weirdos muttering in their outhouses ready to trade 'RealBitcoin' with each other. I hope it brings them joy and riches even if no one else gives a fuck.

[fonsie]

Shall we also fork the forum to bitcoinxttalk.org?

Well not forking, we'll start with post 0 on that one.

[lissandra]

At this point, I dont think we have an option if 4 of leading largest mining pools are based in china.

So its more like they demand the upgrade rather shut the entire system down by downsizing their production if we dont agree.

[Erdogan]

Only way to trade on the old fork is privately, but nobody will be interested in that..

There'll be a small hard core of weirdos muttering in their outhouses ready to trade 'RealBitcoin' with each other. I hope it brings them joy and riches even if no one else gives a fuck.

Yes, and that allows me to theoretizise (will probably not happen) about what happens if we have a long orphan chain: Yes, one will die in the end, but in the mean time you might be able to sell coins from the losing chain for coins on the winning chain. Just make sure you don't sell the wrong way!

[lissandra]

Shall we also fork the forum to bitcoinxttalk.org?

Well not forking, we'll start with post 0 on that one.

wouldnt there be just a sub section of this forum called bitcoinxt.

similar how a alt coin sub section is done, theres no need to make another forum just for the btcxt, it only confuses people.

[redsn0w]

Shall we also fork the forum to bitcoinxttalk.org?

Well not forking, we'll start with post 0 on that one.

wouldnt there be just a sub section of this forum called bitcoinxt.

similar how a alt coin sub section is done, theres no need to make another forum just for the btcxt, it only confuses people.

bitcoinXT is only the name of the wallet.. the coin is still named bitcoin  , come on guys....

[fonsie]

Shall we also fork the forum to bitcoinxttalk.org?

Well not forking, we'll start with post 0 on that one.

wouldnt there be just a sub section of this forum called bitcoinxt.

similar how a alt coin sub section is done, theres no need to make another forum just for the btcxt, it only confuses people.

bitcoinXT is only the name of the wallet.. the coin is still named bitcoin  , come on guys....

It would be an oppurtunity to get an updated forum and to get out of under the oppressive current regime some people talk about.

[Alley]

I think finally resolving the block size debate will cause a increase in price.

[johnyj]

After many miners discover that, they will just leave antpool

[luciann]

After many miners discover that, they will just leave antpool

if we leave antpool, what other options are there..

I mean most of these miningpools is based on the chinas level of production. Last time I checked theres only a few players in the whole mining pool scene. Or are we forced to create our own to avoid the split.

[Miz4r]

Didn't they already say that there would be no hardfork before 2016 anyway? I wouldn't worry too much, this is more like a voting round. The presidential seal will be switched months from now...

Yes

Requirements:

- date>2016
- consensus > 75%
- above two should remain for 2 weeks

Then bigger blocks are allowed.

There's one more requirement I believe before the hardfork would happen, and that's that the actual size of blocks should be >1MB. In this thread there's only a vote going on among miners, not a vote on supporting BitcoinXT and definitely not that 44% has already switched to 8M blocks. The OP is spreading lies on purpose to further his anti-BTC agenda, just like the others who agree with him.

[fonsie]

Didn't they already say that there would be no hardfork before 2016 anyway? I wouldn't worry too much, this is more like a voting round. The presidential seal will be switched months from now...

Yes

Requirements:

- date>2016
- consensus > 75%
- above two should remain for 2 weeks

Then bigger blocks are allowed.

There's one more requirement I believe before the hardfork would happen, and that's that the actual size of blocks should be >1MB. In this thread there's only a vote going on among miners, not a vote on supporting BitcoinXT and definitely not that 44% has already switched to 8M blocks. The OP is spreading lies on purpose to further his anti-BTC agenda, just like the others who agree with him.

Correct, but I think nobody's voting in this thread,  would be pointless.

Only way to make an actual vote at this time that has any meaning is by actually upgrading to bitcoinXT protocol version 70010 (0.11A), all the rest is just meaningless.

[NorrisK]

Maybe most nodes are still syncing the blockchain? (for the ones that didn't run a full node before atleast and want to have a vote). I guess we will see a lot more XT nodes by the end of the week.

[iCEBREAKER]

Well you aren't answering my main question which is Lightweight wallets , what is going to happen to those and why should I switch fast . I'am not using Bitcoin Core anymore anyway and the big question will I lose my BTC ?  Bitcoin XT bitcoins = Bitcoin Core bitcoins or not ?

As far as I understand Bitcoin core BTC are the same as XT BTC until XT pushes its first block larger than 1MB.  At that point XT BTC are different than core BTC.  Whichever chain grows faster becomes the valid chain and valid BTC.  Your SPV wallet compatibility depends on whether the SPV server you're using is using XT or core.

Don't spend your BTC on the XT chain.  If your SatoshiCoins are tainted with Gavincoins and you try to spend them, catastrophic consensus failure may occur, and you will lose them.

http://qntra.net/2015/01/the-hard-fork-missile-crisis/

Unlike previous forks where political consensus was achieved, this fork is guaranteed to result in conflict – the Great Blockchain Civil War starts. MPEx and others will refuse to accept any outputs contained in the Giga-blockchain, MPEx will also begin to actively attack it:

    mircea_popescu: ben_vulpes if one block's large and the other small, all i need a tx that's included in the large block but not the small one. then doublespend it on the small one, which will be rejected necessarily by the large block blockchain

    mircea_popescu: now i have bitcoin separated in two addresses, one for each chain.

    mircea_popescu: the attempt may fail, but the cost to me of this failure is not significant, so i can keep on trying until it succeeds.

    mircea_popescu: the only way to guard against it is, obviously,for the ."large" chain to maintain 1:1 identity with the "small" one. because you don't just fork bitcoin.,

    ben_vulpes: i still fail to see how you're going to make a txn that gets included in the large block chain and not the small block chain.

    artifexd: ben_vulpes: You don't. You keep sending money to yourself until it happens.

    mircea_popescu: ben_vulpes what do you mean ? it necessarily will occur.

    mircea_popescu: since one contains more txn than the other by definition.

    mircea_popescu: suppose i make 50k 1btc txn. they don't fit in a 1mn block. they do fit in a 10mb block. what now ?

As the Giga-blockchain and main-blockchain continue to grow from the fork, those actively attacking the Giga-Blockchain will create many transactions that allow their main-blockchain coins to duplicate over to the Giga-blockchain while remaining safely on the main-blockchain. The transactions that succeed can then be used to acquire more main-blockchain coins upon which the cycle repeats. Eventually the blockchain with the most financial resources behind it will continue to grow at a faster pace, while the other slowly, and eventually stops growing altogether.

It will be impossible for the Giga-chain to keep 1:1 parity with the main chain from which it forks, they contain different transaction, although some may overlap

[Miz4r]

Well you aren't answering my main question which is Lightweight wallets , what is going to happen to those and why should I switch fast . I'am not using Bitcoin Core anymore anyway and the big question will I lose my BTC ?  Bitcoin XT bitcoins = Bitcoin Core bitcoins or not ?

As far as I understand Bitcoin core BTC are the same as XT BTC until XT pushes its first block larger than 1MB.  At that point XT BTC are different than core BTC.  Whichever chain grows faster becomes the valid chain and valid BTC.  Your SPV wallet compatibility depends on whether the SPV server you're using is using XT or core.

Don't spend your BTC on the XT chain.  If your SatoshiCoins are tainted with Gavincoins and you try to spend them, catastrophic consensus failure may occur, and you will lose them.

http://qntra.net/2015/01/the-hard-fork-missile-crisis/

That's old and outdated stuff, before Bitcoin-XT came out with its consensus protocol built in. This fork will occur only when over 75% of the network is already running a Bitcoin-XT node for more than 2 weeks, so by then there's already a big majority force behind the fork. The actual percentage at the time of the fork will probably be closer to 90% or more at this point since the undecided or unwilling minority will be heavily incentivized to switch over as well and go with the rest. Before this fork even actually happens everyone is already prepared for it, except a few die hard 1MB block lovers and some BTC haters who just want to stir the pot. Their fate at this point will have already been sealed though, and they know it so they are making a lot of noise now. So the above is basically just an attempt to scare people into not running a node like Bitcoin-XT so they won't ever reach the needed 75% for a fork in the first place. I've been sitting on the fence in this whole discussion until now, but I have to admit I'm now really considering running a Bitcoin-XT node myself and cast my own vote this way. I was already convinced we need bigger blocks, I've just been waiting for the whole discussion to flesh out a bit more in case I had overseen certain things.