Consensus Reached

[GermanGiant]

We have CONSENSUS!

In April we get SegWit. 3 months later, Bitcoin Core Hard Fork code will be ready.

Source: https://twitter.com/cnLedger/status/700997980527022080

[bitbitch]

presumptuous tweet

[seedtrue]

The first comment:

To Everyone reading this. The consensus is not yet an official announcement. You should wait and read the statement after the meeting

[Amph]

so the majority of merchants and miners are in agreement with the changes of core?

[adamstgBit]

[Laosai]

Could anyone explains to the non technical users what will it change then? 

[adamstgBit]

Could anyone explains to the non technical users what will it change then?  

beside all the added benefits  segwit + 2MB blocks will add

A much more encouraging thing has been revealed, no group not even Core calls the shots, bitcoin's consensus mechanism forces us to work together to find the best possible solutions. I think everyone has been concerned with the idea that bitcoin development had become centralized to one group(Core).

thats if this isn't all for show and Core  refuses to 2MB and or says they will do it and a week later have petter todd come up with some BS story as to why its not happening as they planed.

if that happens tho miner will all opt out of BitcoinCore and into classic, and i will follow suit, as i spit on Cores grave.

[Laosai]

Could anyone explains to the non technical users what will it change then?  

beside all the added benefits  segwit + 2MB blocks will add

A much more encouraging thing has been revealed, no group not even Core calls the shots, bitcoin's consensus mechanism forces us to work together to find the best possible solutions. I think everyone has been concerned with the idea that bitcoin development had become centralized to one group(Core).

Ok that is a good thing to see the consensus scheme working indeed.
I see the point of the 2MB but it'll grant only a little amount of time before blocks will be full again. What after?

And I don't know much about segwit I'm afraid :p
Any link to know a bit more about it?

[adamstgBit]

Could anyone explains to the non technical users what will it change then?  

beside all the added benefits  segwit + 2MB blocks will add

A much more encouraging thing has been revealed, no group not even Core calls the shots, bitcoin's consensus mechanism forces us to work together to find the best possible solutions. I think everyone has been concerned with the idea that bitcoin development had become centralized to one group(Core).

Ok that is a good thing to see the consensus scheme working indeed.
I see the point of the 2MB but it'll grant only a little amount of time before blocks will be full again. What after?

And I don't know much about segwit I'm afraid :p
Any link to know a bit more about it?

after this change transactions on the network will need to go up 4x.

giving us plenty of breathing room to prefect LN and other things.

i don't think we will be able to push the limit much more than 2MB MAYBE it will eventually get bumped to 8MB but thats seems to be more or less the limit imposed by the current network overlay.  after that we will look to adv. in software and hardware in order to scale the main chain, progress at that point will probably be slow tho, but by then we'll have LN and the like.

segwit is quite complex, i don't understand it myself, all i know is it somehow splits up the data which somehow means blocks can stuff in about twice as many TX, and that's actually just a byproduct of what segwit is actually designed for, which again is another complex story we don't really need to know.

[Angelina Jolie]

beside all the added benefits  segwit + 2MB blocks will add

Have they ever said anywhere that HF will increase size to 2MB? Some at core demand blocksize cap reduction too. So, the HF may be at 0.5MB as well.

[adamstgBit]

beside all the added benefits  segwit + 2MB blocks will add

Have they ever said anywhere that HF will increase size to 2MB? Some at core demand blocksize cap reduction too. So, the HF may be at 0.5MB as well.

ya mmm i assumed they were talking about 2MB HF

[thejaytiesto]

It was clear Core would win. Only an idiot would vote for Classic when they have demonstrated nothing worth of being the lead developers of Bitcoin.  I hope that the Gavinistas now shut up for a while and leave the pros work in a more calm environment without constant stupid demands, but im sure they will come up soon with demands about wanting 8mb of block size or something.

[adamstgBit]

This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the maximum effective block size, to more than 2 MB and less than 4 MB, and will only be adopted with a broad support across the entire Bitcoin community. -We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.

does this line imply 2MB + segwit  or just segwit

its not clear

[abercrombie]

Looks promising!  Draft leaked...  

[HKmtg] Now it's 0:30 Beijing time... The final statement is coming very soon.  33m

Statement Draft:

https://www.reddit.com/r/Bitcoin/comments/46qtkz/bitcoin_roundtable_consensus_statement_draft_text/

[lumeire]

This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the maximum effective block size, to more than 2 MB and less than 4 MB, and will only be adopted with a broad support across the entire Bitcoin community. -We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.

does this line imply 2MB + segwit  or just segwit

its not clear

I'm taking it as a both 2MB + segwit.

[BitcoinHodler]

i am very excited to see that we are finally on the right track

[Lauda]

I was ready to create a thread after the announcement, but this works.

Meeting participants:
CN: Ant,  F2Pool, BW, BTCC, Huobi, OKCoin, Haobtc, LightingMiner
Core: Adam, Luke, Peter, Matt
And Bitfury

Here's the draft (this is not the final version):

In February 21st, 2016, in Hong Kong’s Cyberport, representatives from the bitcoin industry and members of the development community have agreed on the following points:

• We understand that SegWit continues to be developed actively as a soft-fork and is likely to proceed towards release over the next two months, as originally scheduled.
• We will continue to work with the entire Bitcoin protocol development community to develop, in public, a safe hard-fork based on the improvements in SegWit.
• The Bitcoin Core contributors present at the Bitcoin Roundtable commit to make a good faith effort to have an implementation of such a hard-fork ready for merge within three months after the release of SegWit.
• This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the maximum effective block size, to more than 2 MB and less than 4 MB, and will only be adopted with a broad support across the entire Bitcoin community.
• We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.
• We will not run Bitcoin Classic. We will only run Bitcoin Core-compatible consensus systems in production for the foreseeable future.
• We are committed to scaling technologies which use block space more efficiently, such as Schnorr multisig.

Based on the above points, the timeline will likely follow the below dates:

• SegWit is expected to be released in April 2016.
• The code for the hard-fork will therefore be available by July 2016.
• If there is strong community support, the hard-fork activation will likely happen around July 2017.

[/list]

[Laosai]

Could anyone explains to the non technical users what will it change then?  

beside all the added benefits  segwit + 2MB blocks will add

A much more encouraging thing has been revealed, no group not even Core calls the shots, bitcoin's consensus mechanism forces us to work together to find the best possible solutions. I think everyone has been concerned with the idea that bitcoin development had become centralized to one group(Core).

Ok that is a good thing to see the consensus scheme working indeed.
I see the point of the 2MB but it'll grant only a little amount of time before blocks will be full again. What after?

And I don't know much about segwit I'm afraid :p
Any link to know a bit more about it?

after this change transactions on the network will need to go up 4x.

giving us plenty of breathing room to prefect LN and other things.

i don't think we will be able to push the limit much more than 2MB MAYBE it will eventually get bumped to 8MB but thats seems to be more or less the limit imposed by the current network overlay.  after that we will look to adv. in software and hardware in order to scale the main chain, progress at that point will probably be slow tho, but by then we'll have LN and the like.

segwit is quite complex, i don't understand it myself, all i know is it somehow splits up the data which somehow means blocks can stuff in about twice as many TX, and that's actually just a byproduct of what segwit is actually designed for, which again is another complex story we don't really need to know.

Indeed if it has such effect it can only be positive

[Denker]

I was ready to create a thread after the announcement, but this works.

Meeting participants:
CN: Ant,  F2Pool, BW, BTCC, Huobi, OKCoin, Haobtc, LightingMiner
Core: Adam, Luke, Peter, Matt
And Bitfury

Here's the draft (not final version yet):

In February 21st, 2016, in Hong Kong’s Cyberport, representatives from the bitcoin industry and members of the development community have agreed on the following points:

• We understand that SegWit continues to be developed actively as a soft-fork and is likely to proceed towards release over the next two months, as originally scheduled.
• We will continue to work with the entire Bitcoin protocol development community to develop, in public, a safe hard-fork based on the improvements in SegWit.
• The Bitcoin Core contributors present at the Bitcoin Roundtable commit to make a good faith effort to have an implementation of such a hard-fork ready for merge within three months after the release of SegWit.
• This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the maximum effective block size, to more than 2 MB and less than 4 MB, and will only be adopted with a broad support across the entire Bitcoin community.
• We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.
• We will not run Bitcoin Classic. We will only run Bitcoin Core-compatible consensus systems in production for the foreseeable future.
• We are committed to scaling technologies which use block space more efficiently, such as Schnorr multisig.

Based on the above points, the timeline will likely follow the below dates:

• SegWit is expected to be released in April 2016.
• The code for the hard-fork will therefore be available by July 2016.
• If there is strong community support, the hard-fork activation will likely happen around July 2017.

[/list]

Reads good to me.
An increase of more than 2MB and less than 4MB should hopefully also make Classic supporters happy.
This shitty debate has to find an end. I'm getting tired of all that hate to each other.
Our real enemies are out there and I'm sure they were laughing about us the last few weeks.
Now it's time to strike back and kick some butts!

[Lauda]

Reads good to me.
An increase of more than 2MB and less than 4MB should hopefully also make Classic supporters happy.
This shitty debate has to find an end. I'm getting tired of all that hate to each other.

This debate has caused a lot of fatigue indeed. However, unfortunately I think that this is just the beginning. You never know when the next contentious HF is lurking behind the corner. Could it be, 'Bitcoin Reloaded' or 'Bitcoin Original'? You never really know.

Our real enemies are out there and I'm sure they were laughing about us the last few weeks.
Now it's time to strike back and kick some butts!

This is their way of fighting us. Divide et impera.
However, it is very nice to reach consensus. Let's wait for the final statement though (some of them already fell asleep).