spazzdla (OP)
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February 03, 2017, 03:45:11 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
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Slark
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February 03, 2017, 04:11:41 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
1 MB was perfectly fine for Bitcoin at the beginning. But like all technology, after some time it becomes obsolete and will require an update. The problem of bitcoin is not that it cannot be better, is is the community that can't seem to find a way how to achieve that progress, arguing and forcing different scaling solutions. If that will continue then Bitcoin might be stuck forever with 1MB and it won't be long before users frustrated with the bitcoin network will ditch it in favor of other cryptos.
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David Rabahy
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February 03, 2017, 04:23:36 AM |
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It is clear that the investment community will be obliged to diversify. Bitcoin can go a long way on 1MB blocks and big (relatively) transaction fees; it appears SegWit is not gaining the support it needs to go through but who knows it may still make it; without SegWit can Lightning be made to work? Which other altcoin is going to become the darling of scalability? Or perhaps there will be many. Or is there indeed some fatal flaw that always draws any of them into centralization?
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kiklo
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February 03, 2017, 04:34:35 AM |
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It is clear that the investment community will be obliged to diversify. Bitcoin can go a long way on 1MB blocks and big (relatively) transaction fees; it appears SegWit is not gaining the support it needs to go through but who knows it may still make it; without SegWit can Lightning be made to work? Which other altcoin is going to become the darling of scalability? Or perhaps there will be many. Or is there indeed some fatal flaw that always draws any of them into centralization?
All PoW coins will Centralize , the laws of economics guarantee it. Fewer Miners, higher prices (due to manipulation), and higher fees (eventually to become unsustainable) ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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Kakmakr
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February 03, 2017, 05:49:18 AM |
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It makes sense to the Blockstream group, because with a bigger block size the LN would not be necessary for a much longer time. If I was a cartoonist, I would have drawn a picture where the Blockstream guys were stepping on the Bitcoin guys throat and only allowed enough room for him to breath, without him dying from suffocation.
In the Blockstream guys hand is a oxygen cylinder called, "SegWit$$$Lightning Network" and in the little chat box, it will say.... " Pay or Die "
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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marcoman22
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February 03, 2017, 06:09:18 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
1 MB was perfectly fine for Bitcoin at the beginning. But like all technology, after some time it becomes obsolete and will require an update. The problem of bitcoin is not that it cannot be better, is is the community that can't seem to find a way how to achieve that progress, arguing and forcing different scaling solutions. If that will continue then Bitcoin might be stuck forever with 1MB and it won't be long before users frustrated with the bitcoin network will ditch it in favor of other cryptos. Yes, there is already a big queue of transactions waiting to be confirmed.Only seven transactions per seconds is very less for such a growing bitcoin network.If it is not solved, many bitcoin users would think about switching to other altcoin probably Monero in which transaction is fast enough and also anonymous.
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Rahar02
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February 03, 2017, 06:18:44 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
1 MB was perfectly fine for Bitcoin at the beginning. But like all technology, after some time it becomes obsolete and will require an update. The problem of bitcoin is not that it cannot be better, is is the community that can't seem to find a way how to achieve that progress, arguing and forcing different scaling solutions. If that will continue then Bitcoin might be stuck forever with 1MB and it won't be long before users frustrated with the bitcoin network will ditch it in favor of other cryptos. Indeed, they have been planned to increase block size, as far as I know from entities positions : https://en.bitcoin.it/wiki/Block_size_limit_controversyThere is no any other option if we expect for more adopters and transactions per second. Time confirmation will become problem all the time for mass adoption if they don't do it, maybe this year or next year.
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lokomotive
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February 03, 2017, 06:23:32 AM |
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Should have been at least 2-4MB some time ago.
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pooya87
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February 03, 2017, 06:27:24 AM |
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Should have been at least 2-4MB some time ago.
i disagree. we need to increase the block size but things are not that bad if we only see legit transactions in the pool. right now we have a massive scale spam attack which is increasing the number of unconfirmed transactions. https://bitcointalk.org/index.php?topic=1776143.0the thing about blockchain and bitcoin is that you can spam but you can't hide.
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Warg
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February 03, 2017, 06:42:17 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
What are you talking about? With segwit we get 2-4 mb ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) if I'm not wrong.
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johny08
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February 03, 2017, 07:01:57 AM |
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It makes sense to the Blockstream group, because with a bigger block size the LN would not be necessary for a much longer time. If I was a cartoonist, I would have drawn a picture where the Blockstream guys were stepping on the Bitcoin guys throat and only allowed enough room for him to breath, without him dying from suffocation.
In the Blockstream guys hand is a oxygen cylinder called, "SegWit$$$Lightning Network" and in the little chat box, it will say.... " Pay or Die "
There has to be a way of stopping soam attacks without bloating the blockchain. Increasing the blockchain makes just sense if you enlarge it 3 times but getting the capability of making 30x or 300x more transcactions, like with LN. Ignorelist stupid.
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johny08
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February 03, 2017, 07:04:31 AM |
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It is clear that the investment community will be obliged to diversify. Bitcoin can go a long way on 1MB blocks and big (relatively) transaction fees; it appears SegWit is not gaining the support it needs to go through but who knows it may still make it; without SegWit can Lightning be made to work? Which other altcoin is going to become the darling of scalability? Or perhaps there will be many. Or is there indeed some fatal flaw that always draws any of them into centralization?
Lets wait for lightcoin to integrate segwit, so devs can test ln on largescale. If everything works it can be adopted to btc.
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johny08
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February 03, 2017, 07:09:00 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
1 MB was perfectly fine for Bitcoin at the beginning. But like all technology, after some time it becomes obsolete and will require an update. The problem of bitcoin is not that it cannot be better, is is the community that can't seem to find a way how to achieve that progress, arguing and forcing different scaling solutions. If that will continue then Bitcoin might be stuck forever with 1MB and it won't be long before users frustrated with the bitcoin network will ditch it in favor of other cryptos. Yes, there is already a big queue of transactions waiting to be confirmed.Only seven transactions per seconds is very less for such a growing bitcoin network.If it is not solved, many bitcoin users would think about switching to other altcoin probably Monero in which transaction is fast enough and also anonymous. Because monero has what 3 transactions max in a block? Public blockchain is the most important thing ever. It can avoid corruption if ised by government. We want be there and not on a hidden transaction layer missused by criminals and corruption, boy.
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johny08
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February 03, 2017, 07:11:09 AM |
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Should have been at least 2-4MB some time ago.
i disagree. we need to increase the block size but things are not that bad if we only see legit transactions in the pool. right now we have a massive scale spam attack which is increasing the number of unconfirmed transactions. https://bitcointalk.org/index.php?topic=1776143.0the thing about blockchain and bitcoin is that you can spam but you can't hide. The first time i read intelligence here. There is hope! For the community
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Warg
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February 03, 2017, 07:16:30 AM |
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Lets wait for lightcoin to integrate segwit, so devs can test ln on largescale. If everything works it can be adopted to btc.
Yeah, I believe they wait to test segwit with lightcoin first, they don't want to risk bitcoin without confidence
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pooya87
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February 03, 2017, 07:24:54 AM |
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Lets wait for lightcoin to integrate segwit, so devs can test ln on largescale. If everything works it can be adopted to btc.
Yeah, I believe they wait to test segwit with lightcoin first, they don't want to risk bitcoin without confidence i read on reddit that apparently F2Pool (which is a big mining pool with a huge hashrate share) said they will activate SegWit on Litecoin. but the miners support is 0% for some reason http://litecoinblockhalf.com/segwit.php either i am missing something or they haven't yet started signaling!
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BigBoom3599
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February 03, 2017, 07:29:43 AM |
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Should have been at least 2-4MB some time ago.
i disagree. we need to increase the block size but things are not that bad if we only see legit transactions in the pool. right now we have a massive scale spam attack which is increasing the number of unconfirmed transactions. https://bitcointalk.org/index.php?topic=1776143.0the thing about blockchain and bitcoin is that you can spam but you can't hide. Eh... spam attack or not, blocks are full... and fees are (too) high. Wasn't "cheap and fast" transactions one of the major advantages of bitcoin? Bitcoin is neither at the moment... The only thing it currently still has is decentralization, well sort of atleast... Increasing the block size isn't a permanent scaling solution IMO but it is the temporary one we NEED right now until LN arrives. People are running away from bitcoin and going into altcoins atm because they're cheaper and faster right now...
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Warg
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February 03, 2017, 07:34:24 AM |
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People are running away from bitcoin and going into altcoins atm because they're cheaper and faster right now...
Let them... I want to buy bitcoin cheaper ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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LoyceV
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February 03, 2017, 07:39:26 AM |
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Should have been at least 2-4MB some time ago.
i disagree. we need to increase the block size but things are not that bad if we only see legit transactions in the pool. right now we have a massive scale spam attack which is increasing the number of unconfirmed transactions. Who decides whether or not a transaction is "spam"? And even if it is spam, they do pay fees. The problem is: even with fees that would have been called very high just a few months ago, I'm now waiting almost 24 hours for my transaction. As a Bitcoin user I don't really care if "spam" is the cause, it should just work. Sites like https://btc.com/stats/unconfirmed-tx or https://bitcoinfees.21.co/ nicely show you how much to pay for a fast transaction, but the end-result is we're all paying more, without processing a single transaction more. The last 4 blocks all have more than 1 Bitcoin in fees, up to 1.7 Bitcoin. That's huge! Remember when "cheap transactions" was an argument to use Bitcoin? To grow, it needs more users. To get more users, it needs to be able to handle them. Meanwhile, the miners have a 1.7 Bitcoin per block incentive not to increase block size.
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Amph
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February 03, 2017, 07:39:55 AM |
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I don't really know where else to go from that.. 1MB will seem like 1KB soon enough. What do..
What are you talking about? With segwit we get 2-4 mb ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) if I'm not wrong. 4mb? no way, at best it's 2MB, actually a bit less, but miners do not agree in the activation, it will never happen It is clear that the investment community will be obliged to diversify. Bitcoin can go a long way on 1MB blocks and big (relatively) transaction fees; it appears SegWit is not gaining the support it needs to go through but who knows it may still make it; without SegWit can Lightning be made to work? Which other altcoin is going to become the darling of scalability? Or perhaps there will be many. Or is there indeed some fatal flaw that always draws any of them into centralization?
All PoW coins will Centralize , the laws of economics guarantee it. Fewer Miners, higher prices (due to manipulation), and higher fees (eventually to become unsustainable) ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) well pos coin is even more centralized, with the bad distribution and the scheme of rich become even richer, you can't have fully decentralization the only way was to change the algo every so years to prevent asic and keep the gpu mining, maybe it will be done in the future, if 51% become a reality
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