If bitcoin forks to XT, the price will start declining

[countryfree]

WTF is this?

Did the real Satoshi just speak? It didn't sound like Satoshi Nakamoto. Rather an imposter if you asked me.

If this is real, which I doubt, I'm sure he has a way to identify himself. Unfortunately, it's very easy to set up an account somewhere with a false name.

Bitcoin already forked once.

Remember what happened to the price?

if you're talking about the 2013 fork, nothign really happened, there was a minor dump after the 230 peak, but it started before the fork so it's not sure if it was cause by the fork or what

Yep, lasted about half a day then rose quickly after that.

And that was an unexpected fork. Imagine how easy the transition will be when we can pretty much watch it happen down to the hour.

It's psychology, waiting is terrible. Will there be a fork or not? Not knowing what's going to happen scares investors all over the world.

[kwukduck]

I believe the issue is the devs behind XT.  If core devs would release a upgrade to 8mb everybody would be on board.  But they want to stay as is so they can make money off lightning networks.  Or so I heard.

Bigger blocks require better hardware and connectivity, pushing the average Joe away from participating, causing more centralization. This is partly negated by rapidly increasing availability of good hardware and connectivity around the world to the average Joe .

[danielW]

Nobody is saying to never raise the block size.  Some people just think it does not need to be done now and the increases should be smaller.

Other people want to increase it aggressively/rapidly.

Either one of these options is not as bad as a split and civil war in the community (in my opinion).

[Mickeyb]

Ok, I am purely a hodler here so be gentle with me......

What is wrong with everyone going over to XT?

My limited understanding is that In years to come 1mb block size won't do if it heads towards mass adoption and transactions increase dramatically.

Why stay at 1mb? What's the good thing about staying at 1mb blocks and staying with core?



Again, I just hold my bitcoins so explain in a simple way please.

OK, I will try. I am a holder as well. We will need bigger blocks, since we all our counting that Bitcoin will grow and more transactions will take place. So you have people that are completely against the bigger blocks, some major DEVs including. They believe that block size increase should take place only if 100% necessary and when we approach 1MB limit, since we are not there yet. They believe we should look at some other solutions besides block size, again if possible and that block size increase should be only our last resort. Why? They believe that bigger block will centralize Bitcoin since you need more storage, more bandwidth and not everybody in the world have big bandwidths, for example China.

Then you have other people, and they are the majority it seems to me that want bigger blocks but not XT, I am one of them. We want bigger blocks in the Core. We don't want XT because we think this is opening a Pandora's box and if they can bully us with the XT, they will be able to bully us with anything in the future.

[Tzupy]

http://arstechnica.com/business/2015/08/op-ed-why-is-bitcoin-forking/

[rjclarke2000]

Thanks guys.

[galbros]

http://arstechnica.com/business/2015/08/op-ed-why-is-bitcoin-forking/

Thanks for this, it was helpful.  It also points to the even more useful Gavin's Blog entry about this.

It would be nice if there was a similar site with the rebuttal.

Overall, I think this makes bitcoin look like an unserious mess.  I'm not surprised that the price is dropping, I guess it will continue to until this gets sorted out.  Kind of hard to belive that five people could not come up with a sensible resolution.

[techgeek]

Nobody is saying to never raise the block size.  Some people just think it does not need to be done now and the increases should be smaller.

Other people want to increase it aggressively/rapidly.

Either one of these options is not as bad as a split and civil war in the community (in my opinion).

Just know its a battle between the largest mining pool who runs these operations.

So basically they want it now since their bandwith sucks. Which doesnt seem to be an option unless you want these mining pools to cut off all their production which would slow down findning blocks..

[Hunyadi]

Kind of hard to belive that five people could not come up with a sensible resolution.

That's so amazing! DEVs seem to be real primadonnas. Grow so balls and act like men....drama queens.