[Discussion] Blocks signalling SegWit Support

[European Central Bank]

You have to make an on chain transaction to get in and out of a lightning network. and i'll guess that if it really takes off the main chain fees will be so stupidly high that miners will be rolling in it. that is until the users get totally sick of throwing their money away and find another coin to use.

[1714881694]

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[1714881694]

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[kiklo]

http://data.bitcoinity.org/bitcoin/block_version/30d?c=block_version&r=week&t=a

While the percentage of blocks signalling segwit support is rising, that's only because the relative proportion of blocks by the pools signalling support is getting closer to what they represent as a proportion of the network - the same 6 entities have been signalling support as soon as they could. A significant proportion of pools have not (+/-yet) started signalled support. I wouldn't take the rise in percentage of blocks signalling segwit to be indicative of support increasing for it. I'd watch the pool count supporting segwit as a better marker of whether it will get up or not - and at this stage there isn't remotely enough pools supporting it, but it's way too early to make a call about what will happen (note my pool is currently testing support for it and plans to but it's less than 0.1% of the network.)

Segwit is not increasing, Highest it ever saw was 30%, it has only been dropping since.

https://coin.dance/blocks

Current #s are

SegWit       20.14%
8 MB          11.90%
Unlimited   10.00%

 


FYI:
Segwit leads the way for LN,
you might want to study that as it will lower the amount of transactions fees you receive in the future by keeping more transactions OffChain.

[kiklo]

You have to make an on chain transaction to get in and out of a lightning network. and i'll guess that if it really takes off the main chain fees will be so stupidly high that miners will be rolling in it. that is until the users get totally sick of throwing their money away and find another coin to use.

Once In,
There are no limits on how many transactions you can make,
BTC miners will see ZERO fees from those transactions and this will drop the number of ONChain Transactions by a large %.
LN has the potential to determine which miners actually process the transactions.  

 

FYI:
Have no illussions , LN is the Tool that will give control of BTC to the Bankers.

[Meuh6879]

The problem of SegWit is not ... SegWit
It's the developpers of Wallets (or associate services) : https://bitcoincore.org/en/segwit_adoption/



WIP is not good ...

[franky1]

http://data.bitcoinity.org/bitcoin/block_version/30d?c=block_version&r=week&t=a

While the percentage of blocks signalling segwit support is rising, that's only because the relative proportion of blocks by the pools signalling support is getting closer to what they represent as a proportion of the network - the same 6 entities have been signalling support as soon as they could. A significant proportion of pools have not (+/-yet) started signalled support. I wouldn't take the rise in percentage of blocks signalling segwit to be indicative of support increasing for it. I'd watch the pool count supporting segwit as a better marker of whether it will get up or not - and at this stage there isn't remotely enough pools supporting it, but it's way too early to make a call about what will happen (note my pool is currently testing support for it and plans to but it's less than 0.1% of the network.)

as above.. but with added:
those pools, being mainly BTCC, slush. they quickly rushed to flag their approval. this means the day the final code release was released they didnt tweak it and test it. they just ran it.

most pools have been watching the code since june (first real bitcoin testnets began) but because between june and october the code was continually changing many were not gonna bother writing their own implementations until final code was released. to then emulate.

so by running the final software pretty much as soon as it was released shows that btcc and shush didnt really independantly test it on bitcoins MAIN NET before flagging. they just trusted the TESTNET tests were adequate and just ran with it.

we should/may see more pools eventually flag for segwit after doing some MAINNET tests. but dont expect anything before the new year to get activated.

and as for anyone blaming Ver right now.. Ver only has 9% hashrate not 75%. so atleast stick to reality of realising its more then just Ver saying no right now.

[franky1]

The problem of SegWit is not ... SegWit
It's the developpers of Wallets (or associate services) : https://bitcoincore.org/en/segwit_adoption/

WIP is not good ...

WIP is good. it means they are peer reviewing, testing on mainnet and double checking... rather then "blind trust and run"

its like Windows. never blindly install and run a new version of windows until its atleast released its first batch of patches

[countryfree]

I used to blame the developers for being too slow to find a solution to the scalability issue. Now that we have one (well, sort of...), I may start to blame the miners for being too slow to implement it. At this rate, we'll be lucky if SegWit is adopted by Spring.

[franky1]

I used to blame the developers for being too slow to find a solution to the scalability issue. Now that we have one (well, sort of...), I may start to blame the miners for being too slow to implement it. At this rate, we'll be lucky if SegWit is adopted by Spring.

firstly ill repeat

its like Windows. never blindly install and run a new version of windows until its atleast released its first batch of patches

and then add
yet other proposals could have been released sooner..
segwit is just kicking the stone down the road.
at the moment pre-segwit we are getting ~2500tx (standard tx mix)
at the moment pre-segwit we are getting ~2100tx (standard/multisig tx mix)

only expect ~4500tx IF.. EMPHASIS: IF 100% of users use segwit.
yep the 1.8x of ~2500tx (standard tx mix) =~4500 IF 100% of users use segwit.
yep the 2.1x of ~2100tx (standard/multisig tx mix) ~4500 IF 100% of users use segwit.

but guess what.
if you look back to 2009-2013, transactions were leaner with the estimates of 4500tx (remember the good old days of 7tx/s hype)
thats right we are just going backwards to original expectations of 2009-2013..
and only able to reach OLD expectations IF EVERYONE used segwit

but a proper scalability of 2mb base 4mb weight. would offer ~5000tx without segwit and ~9000tx with segwit.

and making it dynamic means we are not waiting months/years for PEOPLE to decide to allow other people to download a change. it would happen as part of the network. meaning no political name calling or oliver twist scripts of "please sir can i have some more"

but hey we seem to have too many people protecting devs rather then bitcoins diversity and utility.