What will happen when blocks are being full

[knight22]

http://forums.prohashing.com/viewtopic.php?f=11&t=650&p=2467

[agath]

Exactly this.

[NorrisK]

Nice representation of what is likely to happen!

I for one will not be sending any funds to blockstream, as I don't want to be forced to put trust into another party when it is not at all necessary.

[knight22]

I have once hated altcoins because I saw them as competitors of bitcoin but I have learnt to appreciate them as an escape to what bitcoin could become.

[christycalhoun]

The concept of finite bitcoins is one of the best features. Miners pumping out infinite bitcoins would just make it monopoly money.

[meono]

Its too bad that the bitcoin community is so blind to see any of this.

They're promised by the "core" that their bitcoin price will go up.... and thats all they want to hear

Reality is.... bitcoin price rely only on bitcoin's utility.

What a bunch of dumbasses

[Lauda]

Here we go again. A worthless wall of text, coming from someone who has actually read it to the end (waste of my time).TL;dr People will move from coin Y because of problem X to coin Z with problem X. Flawless logic indeed. BIP101 propaganda post backed up by nothing but the persons words (I require more to believe such stories).

Fees to execute payouts rose to around 40 cents - and such payouts require 6-10 hours for confirmation. Customers understandably complain about these long delays, but we can neither pass on the extra fees to them (as most would rather wait than pay more), nor take them ourselves (because mining is a low-margin business). To be confirmed within a few blocks, we would have had to pay over two dollars.

I had no problem transacting at said time. I'd like to see evidence of this.

I have once hated altcoin because I saw them as competitors of bitcoin but I have learnt to appreciate them as an escape to what bitcoin could become.

Still better option than XT.

The concept of finite bitcoins is one of the best features. Miners pumping out infinite bitcoins would just make it monopoly money.

What are you talking about?
Updated.

[meono]

Here we go again. A worthless wall of text, coming from someone who has actually read it to the end (waste of my time).TL;dr People will move from coin Y because of problem X to coin Z with problem X. Flawless logic indeed. BIP101 propaganda post backed up by nothing but the persons words (I require more to believe such stories).

Fees to execute payouts rose to around 40 cents - and such payouts require 6-10 hours for confirmation. Customers understandably complain about these long delays, but we can neither pass on the extra fees to them (as most would rather wait than pay more), nor take them ourselves (because mining is a low-margin business). To be confirmed within a few blocks, we would have had to pay over two dollars.

I had no problem transacting at said time.

I have once hated altcoin because I saw them as competitors of bitcoin but I have learnt to appreciate them as an escape to what bitcoin could become.

Still better option than XT.

The concept of finite bitcoins is one of the best features. Miners pumping out infinite bitcoins would just make it monopoly money.

What are you talking about?

That does not mean others did not. Do you know how the fee was calculated? Not all txs are the same in priority.

We've see this same BS when the blockchain was "stress tested". Some idiots jumped in and said " my tx was fine"

[knight22]

I have once hated altcoin because I saw them as competitors of bitcoin but I have learnt to appreciate them as an escape to what bitcoin could become.

Still better option than XT.

Why? Since you are one of those who consider XT as an altcoin...

[meono]

I have once hated altcoin because I saw them as competitors of bitcoin but I have learnt to appreciate them as an escape to what bitcoin could become.

Still better option than XT.

Why? Since you are one of those who consider XT as an altcoin...

lol Love this.

[Lauda]

Why? Since you are one of those who consider XT as an altcoin...

Simple. I don't recall Dogecoin forcing "consensus" nor having a benevolent dictator.

[knight22]

Why? Since you are one of those who consider XT as an altcoin...

Simple. I don't recall Dogecoin forcing "consensus" nor having a benevolent dictator.

Everybody is free to do whatever it wants with its altcoin no? While everybody is free to follow it...

Edit

As far as I'm concerned, Core is also forcing "consensus" with the status quo.

[meono]

Why? Since you are one of those who consider XT as an altcoin...

Simple. I don't recall Dogecoin forcing "consensus" nor having a benevolent dictator.

So you're confiming that you're a fool?

you know making claim like "support BIP101 if you want a benevolent dictator".....

Having users to pick which they want sounds more like concensus to me,....

Unless your definition of consensus is to have  a small group of ppl tell us where to go.

[DooMAD]

Fingers crossed that the December scaling conference yields some form of progress and we don't end up with full blocks on a regular basis.  For now I'll reserve judgement until we see what the outcome is.  I still have strong concerns over who will end up receiving the bulk of the transaction fees if enough traffic is driven off the main chain.  If a large proportion of the fees goes to somewhere other than the miners, then we're going to have significant problems down the line.  I'm pretty sure the concept is supposed to involve more fees being collected by miners over time as the block reward diminishes, but how does that occur if more people end up transacting through payment channels?  The operators of those channels will want to turn a profit and that invariably results in skimming off some of the transaction fees and the miners get less as a result.  It just sounds like a way of introducing middlemen who don't actually do anything but take a cut.

[Possum577]

Uber fork. The fork happens, that's the reaction from full blocks.

Much happy.

[fachant]

When the block is full, people will worry about this and bitcoin price will fall. Then the problem will be resolved as soon as possible.

[Kakmakr]

My vision for this is quite different from that. I think the water or liquid will dry up once the glass has reached capacity. The public will see this as a failure and stick too fiat or credit cards or PayPal. Both of these options alienate people from Crypto currencies. The developers should get their act together and sort out the mess they created with this. 

[Amph]

well isn't this what sidechain will be also about? but in a better way than a scumbag altcoin? or you are saying that we don't need them because we have altcoin already?

[Blue_Tiger73]

When all the Bitcoin has been mined, 21,000,000 Bitcoin, that will pretty much be the end of Bitcoin. There will be no miners as they would earn barely anything, only the transaction fees. My prediction is that when it reaches that point, the price will be quite high. There might be some miners but not many; so some transactions will get processed.

[franky1]

expanding the block limits IS going to happen.. i just think most people dont want hearn and gavin to be the only 2 coders.. most peopl prefer it to be an open project anyone can join and code in..

so whether it stays as core or xt.. the actual picture would bemore like

2009-2016
1mb limit


2016-20xx
X limit


how we get from a wine glass to a barrel is the conversation.. not that a barrel will never happen.

anyone trying to presume other coins would be tagged, sidechained, dual coin mined with bitcoin.. are just altcoin fanboys trying to drum up speculation that their worthless doges would become worth equal to bitcoin.
the reality is that if sidechains does happen where people can transfer value equally using one protocol but many coins/block of many chains.. then the whole rarity of bitcoin is gone. meaning sidechain coins will destroy bitcoins rarity..

and the only argument i can see for not just increasing bitcoins limit.. is about $120 for a 5tb hard drive to store 5 years of blocks at 20mb