Coinbase CEO disagree with "The Bitcoin Roundtable Consensus Proposal"

[Lauda]

1. None of the core devs are in the meeting, Adam signed that letter as "individual", these days everyone can represent himself as bitcoin CEO

Wrong. There are Core developers present.

2. The proposal is just a pie in the sky promise, does not provide any details about the hard fork and how it is going to be implemented

They are obliged to create an proposal and prepare the code between April and July

3. It is just a move trying to push in an architecture change (SegWit) that is impossible to pass chinese miners or core devs' approval in near future

Almost everyone is on-board with Segwit. Have you not seen the signatures for the Core roadmap?

4. Chinese miners will understand later that they get nothing by doing everything for Blockstream, and trash it just like they trash the classic support proposal

Useless propaganda.

[franky1]

You seem to have missed the "2017" part of "July 2017". The next halving is a year ahead of this.

There's a halving in 2020 after the one in 2016 (i.e. every 4 years on average). What are you talking about?

klestin knows its 2016.. he is rebutting Amph who seems to think the halving is july 2017(same time as 2mb gets activated)..

so Klestin is saying that the halving is happening a year ahead(before) cores roadmap for 2mb.. not at the same time, to correct amph.

so lauda, putdown the Java book, and after you finish reading C++ for the first time, get a english dictionary.

[franky1]

3. It is just a move trying to push in an architecture change (SegWit) that is impossible to pass chinese miners or core devs' approval in near future

Almost everyone is on-board with Segwit. Have you not seen the signatures for the Core roadmap?

there are 100 core devs and 6000 people running nodes. unless there are 100-6000 signatures.. its meaningless

[johnyj]

In fact, if you carefully analyze this announcement, it is full of holes and incorrect terms(What is that "non-witness data"?), obviously written by someone who don't even understand segwit. So it is just chinese miners are intentionally making a deal, without even look at who is making the deal with them  

Why chinese miners are scared by a hard fork? Because a hard fork might cause large amount of coin withdraw from their FRB operated exchanges and that may cause a bank run on them. So there are lots of shady things going behind the scene

We know that bitcoin is created to prevent FRB from happening, so ironic, now FRB become the tool to prevent bitcoin from happening

[hdbuck]

3. It is just a move trying to push in an architecture change (SegWit) that is impossible to pass chinese miners or core devs' approval in near future

Almost everyone is on-board with Segwit. Have you not seen the signatures for the Core roadmap?

there are 100 core devs and 6000 people running nodes. unless there are 100-6000 signatures.. its meaningless

haha agreed

y'all never get to hardfork bitcoin, ever. (or it would be some altcoin)

[franky1]

3. It is just a move trying to push in an architecture change (SegWit) that is impossible to pass chinese miners or core devs' approval in near future

Almost everyone is on-board with Segwit. Have you not seen the signatures for the Core roadmap?

there are 100 core devs and 6000 people running nodes. unless there are 100-6000 signatures.. its meaningless

haha agreed

y'all never get to hardfork bitcoin, ever. (or it would be some altcoin)

the funny part is that the hardfork involves 75% consensus to get the buffer in place and then i estimate maybe 90-95% before miners then push the envelope to actually make bigger blocks, so WHEN its activated, it would be the minority of 5%-10% who havnt/refuse to upgrade that are left behind with the altcoin that cant sync, so lets call them the clamsv2 holders.

as for thinking 2mb wont happen. it will. but now the debate is just about when.

[hdbuck]

3. It is just a move trying to push in an architecture change (SegWit) that is impossible to pass chinese miners or core devs' approval in near future

Almost everyone is on-board with Segwit. Have you not seen the signatures for the Core roadmap?

there are 100 core devs and 6000 people running nodes. unless there are 100-6000 signatures.. its meaningless

haha agreed

y'all never get to hardfork bitcoin, ever. (or it would be some altcoin)

the funny part is that the hardfork involves 75% consensus to get the buffer in place and then i estimate maybe 90-95% before miners then push the envelope to actually make bigger blocks, so WHEN its activated, it would be the minority of 5%-10% who havnt/refuse to upgrade that are left behind with the altcoin that cant sync, so lets call them the clamsv2 holders.

as for thinking 2mb wont happen. it will. but now the debate is just about when.

Heh you just have to bid over the one thing relevant you ever said with more stupid bullshiet do you?

[franky1]

Heh you just have to bid over the one thing relevant you ever said with more stupid bullshiet do you?

the blockstream 1mb kool-aid isnt on tap anymore. you can give up that addiction and love for it.. blockstream are finally releasing kool-aid 2mb, but set a massive 16 month activation date..

so i hope you like living between the rock and a hard place. pretending you hate 2mb because its bad, but loving blockstream.. it must be hard to have thought that you should side with the 1mb shills.. but now ur left with the reality that 2mb is happening..

[hdbuck]

Heh you just have to bid over the one thing relevant you ever said with more stupid bullshiet do you?

the blockstream 1mb kool-aid isnt on tap anymore. you can give up that addiction and love for it.. blockstream are finally releasing kool-aid 2mb, but set a massive 16 month activation date..

so i hope you like living between the rock and a hard place. pretending you hate 2mb because its bad, but loving blockstream.. it must be hard to have thought that you should side with the 1mb shills.. but now ur left with the reality that 2mb is happening..

Whatever conspiracy theory about blockstream you are talking about, you know their product such a LN do require larger block?

Anyway be sure to let me know when you fork off.

[mayax]

2 mil users? are you joking? all the BTC users are around of 2 millions   

This figure gets thrown around alot. I think it's Coinbase wallets. I doubt that means verified individuals. They could supply that figure if they wanted to. I guess it's gonna blow their cool if they do.

I'm sure it's not verified individuals.

It's already hard to believe it's 2 millions wallets so 2 millions people? That's more the number of bitcoiners worldwide...

STATS

3,300,000
USERS


5,000,000
WALLETS

42,000
MERCHANTS

8,000
DEVELOPER APPS

https://www.coinbase.com/about

you sure it is not 1 BILLION users and merchants?

3,300,000 USERS is not a real number. How many accounts do you have?  

How many from these users are owning Bitcoin? up to 1.5 milions or even less.

Bitcoin is a niche market like PerfectMoney.com or any other e-currency.

Read carefully:

http://bitscan.com/bitnews/item/how-many-people-really-own-bitcoins-and-why-does-it-matter

[Gyrsur]

2 mil users? are you joking? all the BTC users are around of 2 millions   

This figure gets thrown around alot. I think it's Coinbase wallets. I doubt that means verified individuals. They could supply that figure if they wanted to. I guess it's gonna blow their cool if they do.

I'm sure it's not verified individuals.

It's already hard to believe it's 2 millions wallets so 2 millions people? That's more the number of bitcoiners worldwide...

STATS

3,300,000
USERS


5,000,000
WALLETS

42,000
MERCHANTS

8,000
DEVELOPER APPS

https://www.coinbase.com/about

you sure it is not 1 BILLION users and merchants?

3,300,000 USERS is not a real number. How many accounts do you have?  

How many from these users are owning Bitcoin? up to 1.5 milions or even less.

Bitcoin is a niche market like PerfectMoney.com or any other e-currency.

Read carefully:

http://bitscan.com/bitnews/item/how-many-people-really-own-bitcoins-and-why-does-it-matter

^^thanks for this!

[mayax]

are those genuine data, many user can fake their account easily, maybe with stolen id too, so no have one id request is not a guarantee that those user are genuine at 100%

same for the wallets and the other numbers

and many company fake their data as well..

gotta cope with teh investors delusions y know..


but we know they are having cash burning issues.. or is it bitpay?

http://qntra.net/2015/03/coinbase-compliance-chief-resigns/
http://qntra.net/2015/02/coinbase-to-shut-down-tipping-button/
http://qntra.net/2015/09/eyewitness-people-walking-out-of-bitpay-office-in-tears/
http://qntra.net/2015/06/bitpay-continues-to-falter/
http://qntra.net/2015/01/bitpay-lays-off-9-employees-today/
http://qntra.net/2015/03/bitpay-showing-more-signs-of-trouble-no-longer-st-petersburg-bowl-sponsor/

Great point. The stupid investors must read something...so that they can pump up other money. Coinbase is like bankrupt without external funds. Their exchange company cannot be sustained from exchanges. Remember that they have financial licenses in most of USA. These licenses cost A LOT and also they have a lot of staff.
 Their monthly expenses are HUGE(do not count the lobbies that they have to pay). It's impossible to  cover them from exchanges

[franky1]

Read carefully:
http://bitscan.com/bitnews/item/how-many-people-really-own-bitcoins-and-why-does-it-matter

^^thanks for this!
[/quote]

from the link

In fact, it turns out that less than 10 percent actually have any bitcoins in – fewer than 2.5 million.

So that means an absolute maximum of around 2.5 million people own bitcoins right now.

the author of that article forgets to mention that some SERVICES cold store LOTS OF PEOPLES funds in one address..

so the maximum amount of people can be more than 2.5mill.. so even his own attempt to get to a rational number is still based on flawed guestimation.

but overall i think 2million seems a safe bet. as the guestimates are anything from 500k(all cold store holders) to 24million(majority exchange managed)

[mayax]

up to 2 million overall. BTC is not wellknown as the shitty BTC media is saying. They are just trying to manipulate...to attract more blind investors to their start ups or companies.

All the BTC industry is owned by a bunch of people who are controlling the main exchangers, main BTC media websites and few miners.

how many people around you, did you hear talking about Bitcoin? I didn't hear anybody.

I heard people talking about gold, silver, real estate investments, shares but not about..Bitcoin

[Denker]

2 mil users? are you joking? all the BTC users are around of 2 millions   

This figure gets thrown around alot. I think it's Coinbase wallets. I doubt that means verified individuals. They could supply that figure if they wanted to. I guess it's gonna blow their cool if they do.

I'm sure it's not verified individuals.

It's already hard to believe it's 2 millions wallets so 2 millions people? That's more the number of bitcoiners worldwide...

STATS

3,300,000
USERS


5,000,000
WALLETS

42,000
MERCHANTS

8,000
DEVELOPER APPS

https://www.coinbase.com/about

you sure it is not 1 BILLION users and merchants?

3,300,000 USERS is not a real number. How many accounts do you have?  

How many from these users are owning Bitcoin? up to 1.5 milions or even less.

Bitcoin is a niche market like PerfectMoney.com or any other e-currency.

Read carefully:

http://bitscan.com/bitnews/item/how-many-people-really-own-bitcoins-and-why-does-it-matter

Thanks for that link.
Really helpful and just shows how small Bitcoin still is.
Although this article is from 4th quarter 2014 not much of that data will have changed.

[mayax]

let's say 50% grow but it's too much and even so Bitcoin is nothing. It's only buzz and nothing consistent.

[ATguy]

https://medium.com/@barmstrong/the-bitcoin-roundtable-consensus-proposal-too-little-too-late-e694f13f40b#.ys0fqjis1

What do you think guys ? I personally agree with him about the second point "2. July 2017 is too far away to raise the block size"

Thank you for the link

I liked his "with free market and competetion between teams", it might really speed Bitcoin development. We already see the full node count going up as a result of this competetion. As a libertatian, I have to agree with all he wrote. I hate monopolies, these tend to dont care about users at all.

[mayax]

This is what Coindesk wants. A monopol over "bitcoin" which will be an ALTcoin after April 2016.

[hdbuck]

https://medium.com/@barmstrong/the-bitcoin-roundtable-consensus-proposal-too-little-too-late-e694f13f40b#.ys0fqjis1

What do you think guys ? I personally agree with him about the second point "2. July 2017 is too far away to raise the block size"

Thank you for the link

I liked his "with free market and competetion between teams", it might really speed Bitcoin development. We already see the full node count going up as a result of this competetion. As a libertatian, I have to agree with all he wrote. I hate monopolies, these tend to dont care about users at all.

"As a libertarian i have to agree with Goldman Sachs" xD

[Lauda]

This is what Coindesk wants. A monopol over "bitcoin" which will be an ALTcoin after April 2016.

You mean Coinbase, right? Coindesk is something else.

Whatever conspiracy theory about blockstream you are talking about, you know their product such a LN do require larger block?

Anyway be sure to let me know when you fork off.

Actually it is not even their idea, nor product. They're just one of the groups working on developing them. Ignore the blind propaganda.

"As a libertarian i have to agree with Goldman Sachs" xD

No idea why people would agree with the CEO at all.