Hong Kong Conference!!

[Mickeyb]

I have just ran into an article:

http://www.coindesk.com/expectations-high-ahead-of-blocksize-debate-at-scaling-bitcoin-hong-kong/

Will anything be solved after this weekend? Is by any chance possible that we would come up with consensus after the weekend?

Share your thoughts guys!

[cellard]

I have just ran into an article:

http://www.coindesk.com/expectations-high-ahead-of-blocksize-debate-at-scaling-bitcoin-hong-kong/

Will anything be solved after this weekend? Is by any chance possible that we would come up with consensus after the weekend?

Share your thoughts guys!

I don't think any consensus will be meet, you just need to look at Reddit whenever someone starts talking about BIP101 or whatever. Needless to say, I hope BIP101 stays where it is now, which is as something marginal, just like XT. The guys pushing for something that will eventually centralized Bitcoin to datacenter levels are insane in my book.

[DooMAD]

On the one hand, it certainly feels like it bears all the hallmarks of a "hope for the best, prepare for the worst" scenario.  But on the other hand, it can't remain locked in a state of stalemate for too long.  Something will give eventually.  Sooner or later there will likely be an increase out of necessity and after it happens everyone will wonder what all the fuss was about.  It'll probably be quite the anticlimax after all the drama.

[Cconvert2G36]

BIP101 is not the only option of course. I'm looking forward to watching the conference and I'm hopeful that the community can coalesce around a reasonable compromise.

https://bitcoinmagazine.com/articles/bitcoin-mining-pool-f-pool-discus-fish-maintains-bip-not-an-option-1449003767

"On the Bitcoin development mailing list, Chun recently suggested raising the maximum block size in accordance with the block halving. As such, the block-size limit would be raised to 2 megabytes as soon as possible, followed by an increase to 4 megabytes halfway through 2016, up to 32 megabytes by 2028."

4MB max in 2016, doubling at the halvings. (2MB would/could/should have been the limit at the drop to 25btc block rewards.)

Growth in the max could be halted or slowed by soft fork if alternative scaling solutions present themselves and are proven to be both functional and desired by the market.  

Code:

Max Blocksize	Block Reward	Year(~)		Native TPS(~)
1MB		50		2009		3
2MB		25		2013		6	
4MB		12.5		2016		12
8MB 		6.25		2019		24
16MB		3.125		2022		48
32MB		1.5625		2026		96
64MB		0.78125		2029		192
128MB		0.390625	2033		384
256MB		0.1953125	2037		768
512MB		0.09765625	2041		1536

There's something nice about the available space in a block for fee paying txs doubling at the same time the reward is cut.

[MarketNeutral]

It's great to see truly knowledgeable bitcoin luminaries, such as Jeff Garzik, Dr. Adam Back, Joseph Poon, and Tadge Dryja, among the attendees.

[hl5460]

If things go on as planned, there will be some coverage of the conference here.

[Kakmakr]

"Large block promoters such as Gavin Andresen have so far failed to come up with any evidence that their scaling solution is anything but a fairly simple tradeoff of increasing centralization for cheaper transactions."

" Gavin Andresen, bitcoin’s long-time maintainer and one of the community’s oldest and most visible developers, has said he will not be traveling to Hong Kong. "

" Also absent will be developer and new R3 employee Mike Hearn "

They would rather stay, where they have the biggest support for their BIP  They started the whole thing, and now they are standing back and laughing at the whole division they created. The irony of Life. 

[coinpr0n]

Well, keeping in mind that it's not just a Block Size conference but really a Scaling Bitcoin conference, I am looking forward to it and hope we can come out the other end with a clearer vision with what to do next. As for block size, I think those pushing for an increase have made enough fuss already that something will have to be done soon.

[CoinBateman]

I don't think anything will be reached here. Still, a fantastic networking opportunity worth every bit of time and money spent.

[n2004al]

There is not the first time that they make such kind of meetings or conferences. And always everyone stay in its trench. I think nothing will happen even this time. Can be to much words. Everyone will defend its idea and will be convinced that is the best one. So again words and words. Who suffer is bitcoin. But no one of them care about this. They care only to attract the attention of as many as can people and to find in this way more adoration for themselves.

[LuckyYOU]

I've read this article earlier today.

I'm curious as to how the debate will turn out and everyone's opinions

[Mickeyb]

"Large block promoters such as Gavin Andresen have so far failed to come up with any evidence that their scaling solution is anything but a fairly simple tradeoff of increasing centralization for cheaper transactions."

" Gavin Andresen, bitcoin’s long-time maintainer and one of the community’s oldest and most visible developers, has said he will not be traveling to Hong Kong. "

" Also absent will be developer and new R3 employee Mike Hearn "

They would rather stay, where they have the biggest support for their BIP  They started the whole thing, and now they are standing back and laughing at the whole division they created. The irony of Life. 

Yes, to be quite honest I don't understand why the heck are those two not attending? Maybe they have some clear indications that none of their conditions will be fulfilled so they have decided that it ain't worth of their time and trouble to even make a trip!

I don't know, but this is quite interesting turn of events!