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Author Topic: Why the anti-blockstream sentiment?  (Read 890 times)
ATguy
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March 23, 2016, 05:23:42 PM
 #21

Well I'm still relatively new to Bitcoin, but my understanding is that larger blocksizes increase the orphan rate, and block generation can be effective and efficient at a rate of one block every 33 seconds. I'll try to find the statistical paper that contains those calculations. This seems to be especially true as transaction volumes increase.

Obviously larger blocksizes increase the orphan rate, but if you compare apples with apples like 1M@10m and 50KB@30s then you get higher % of waste hashpower with the 50KB@30s. The average block propagation time to miners for 50KB is not 20x faster than 1M, there are lattencies not linearly dependend on blocksize.

And even with average 33 seconds, it is not enought at point of sale locations to wait up to few minutes to get unreversible transaction. You need at point of sale locations confidence for 0-conf transactions anyway. And dont talk about LN because it does not work yet (and there is chance LN will not work in decentralized manner - so LN could to be turned out as just another centralized option which existing already - fund debit card with Bitcoin and use it anywhere with instant transactions)

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March 25, 2016, 10:10:34 PM
 #22

Think of security issues.

If the side chain is not equal secure than the main chain but lower, you not really want that, since than your BTC can be stolen from a side chain attak.

This isn't a problem. A fork would only happen when a huge amount of miners is mining with the alternative clients. So an attack would be more likely on the losing chain. But even then. No miner would be stupid enough to make such attack. It is very unlikely that someone could gain from such a theft because who will be stolen from?

And besides that... you would lose a lot of money mining with that hashpower only to scam. You could make more safe money by mining normal blocks.

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