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Author Topic: Will the price stagnate or drop because of this issue?  (Read 3786 times)
johnyj
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March 08, 2013, 10:37:36 PM
 #41

Yeah, i don't get why all this trolling about the fork problem.

Just make the new client with an algorithm wich will activate the new blocksize only once like 90% of the clients are upgraded. So before 90% of clients are upgraded we do not change, once we reach the 90%, the change kick in and ta-dah, done without problems.

It is not a technical problem, but a direction one. Currently the split is that some people do not believe that bitcoin should EVER lift the transaction capacity

Bitcoin's limited supply nature decided that its price will always keep rising against other currency. And people will prefer spend inflative currency and save the deflative currency, that means bitcoin will mainly be used as a saving currency, not a transaction currency, so the amount of user initiated transactions will increase very slow, most of them are one time thing

Imagine 2 scenario:
1. Bitcoin is very difficult to transfer, you need 3 days to get 2 confirmation, and pay a high fee, almost as worse as wire transfer, but its price doubles every 6 month

2. Bitcoin is very easy to transfer, you can get 2 confirmations in 20 minutes, but it worth a little, since there are several different bitcoin variants and you never know when will the next variant pop up

Which case do you think have the fastest adoption rate?






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Zangelbert Bingledack
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March 09, 2013, 05:38:12 PM
 #42

The 50/50 split people tend to imagine is totally bogus. No one is going to implement a change until there's a clear majority in favor of it, along with major infrastructure like MtGox, blockchain.info, Coinbase, etc. backing the change. Then when crunch time hits, even if something like 10-20% had been rejecting the change, once they see it is happening for real most of the holdouts will give up and switch to the main fork, since the main fork - for better or worse - is where Bitcoin's future is. At most a few % will stick to the original, but that won't be much of a problem. It'll just be branded Holdoutcoin or Oldcoin and people will move on.
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