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Author Topic: Segwit on Bitcoin has Failed , BTC Core has Lost , The Miners have Won  (Read 4494 times)
NeuroticFish
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February 15, 2017, 09:59:53 AM
Last edit: February 15, 2017, 10:52:32 AM by NeuroticFish
 #61

I sympathize a little with your outrage. However, I don't believe that there is another way. Your options -- from the sidelines -- are few.
- Sell all your BTC and leave it all behind, thereby unnoticeably reducing the price (such would be a lever for large groups, but inconsequential for individuals)
- Buck up buttercup and fire up a node. Joining the network makes your voice heard. Any given node still has essentially zero real power, but at least you can signal your preferences.

Sorry to be the bearer of bad news, but I think that's about all your options.

No, you did good. You are perfectly correct.
Informed answers are always helpful, even if they are bad news.

I will start doing some homework. Maybe I will actually make a node.
I just don't have enough time right now to read all the info I need. But maybe....


Edit: *sigh* "It’s common for full nodes on high-speed connections to use 200 gigabytes upload or more a month. Download usage is around 20 gigabytes a month, plus around an additional 100 gigabytes the first time you start your node." I guess that I will not have a full node after all Sad

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February 15, 2017, 11:00:38 AM
 #62

Edit: *sigh* "It’s common for full nodes on high-speed connections to use 200 gigabytes upload or more a month. Download usage is around 20 gigabytes a month, plus around an additional 100 gigabytes the first time you start your node." I guess that I will not have a full node after all Sad

all dependant on how many connections to other nodes you have.

less connections = less bandwidth usage

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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February 15, 2017, 12:45:25 PM
 #63

Edit: *sigh* "It’s common for full nodes on high-speed connections to use 200 gigabytes upload or more a month. Download usage is around 20 gigabytes a month, plus around an additional 100 gigabytes the first time you start your node." I guess that I will not have a full node after all Sad

all dependant on how many connections to other nodes you have.

less connections = less bandwidth usage

And as far I understand Jonas Schnelli had done sth for limiting this upload traffic a bit, by some parameter - not sure if this is part of BU?

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February 15, 2017, 02:28:34 PM
 #64

Segwit needs 95% to activate.

Current Numbers
https://coin.dance/blocks

Explicit Mining Pool Support by Proposal
SegWit                        24.6%
Bitcoin Unlimited          18.3%
8 MB Blocks                   7.5%

If the current Voters for Bitcoin Unlimited and 8 MB Blocks do not change their votes, (either alone is enough to block segwit)
Segwit will NEVER ATTAIN the 95% needed.

Segwit is DEAD!


Suggest BTC core start working on a blocksize increase solution ASAP, because no matter what else happens Segwit is Dead on Arrival.  Wink


 Cool
I would suggest solution to the impasse with SegWit: to change the name to something more respectful of the Chinese miners, to carry out faithfully executed the diplomatic mission to China, and to propose new solutions for scaling taking into account the cultural peculiarities of China.
aarturka
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February 15, 2017, 02:44:42 PM
 #65

I would suggest solution to the impasse with SegWit: to change the name to something more respectful of the Chinese miners, to carry out faithfully executed the diplomatic mission to China, and to propose new solutions for scaling taking into account the cultural peculiarities of China.
what is wrong with SegWit name? Why do you think it's not respectful to the Chinese miners? Actually there's no problem with chinese miners, they don't have anything against Segwit, it's only in the heads of several BU shills. Eventually all miners accept segwit, they just need more time.
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February 15, 2017, 02:47:47 PM
 #66

This is where LTC become relevant.

BTC for holding and LTC for transfactions.

LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
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February 15, 2017, 04:17:04 PM
 #67

You seem to think that the Bitcoin communitys only purpose is to support the miners. That is wrong - the miners job is to support Bitcoin!

The miners are an essential part of the community. Your entire 'us vs. them' premise is flawed. Without miners, Bitcoin dies.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

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February 15, 2017, 05:37:26 PM
 #68

This is where LTC become relevant.

BTC for holding and LTC for transfactions.

LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.

Looks like you missed the memo: http://litecoinblockhalf.com/segwit.php

Segwit is also failing in LTC. People just don't want it. This  is after they lowered the activation threshold to 75%, and furthermore decided that  "not signalling will be consent by default"!

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February 15, 2017, 06:13:53 PM
 #69

You seem to think that the Bitcoin communitys only purpose is to support the miners. That is wrong - the miners job is to support Bitcoin!
The miners are an essential part of the community. Your entire 'us vs. them' premise is flawed. Without miners, Bitcoin dies.

I fully agree. As long as the miners fill their role in the system there is no problem. If some of them start to push their own agenda, things change radically.
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February 16, 2017, 07:23:36 AM
 #70

This is where LTC become relevant.

BTC for holding and LTC for transfactions.

LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.

Looks like you missed the memo: http://litecoinblockhalf.com/segwit.php

Segwit is also failing in LTC. People just don't want it. This  is after they lowered the activation threshold to 75%, and furthermore decided that  "not signalling will be consent by default"!



the "not signalling will be consent by default" will likely imho mean it WILL get approved...just saying (then again the ways of seg witness are mysterious to me) Smiley

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February 16, 2017, 08:26:52 AM
 #71

why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin
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February 16, 2017, 09:12:22 AM
 #72

why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin
Users want a more permanent solution and miners of course would love to keep fees high. But that's just IMO
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February 16, 2017, 09:14:43 AM
 #73

It is dead? You don't see Segwit is higher than BU and 8MB? It means that in the future, miners will vote for it, and the proportions tell us that SW will be most possibly implemented.

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February 16, 2017, 09:41:47 AM
 #74

It is dead? You don't see Segwit is higher than BU and 8MB? It means that in the future, miners will vote for it, and the proportions tell us that SW will be most possibly implemented.

Segwit has to have 95% to be activated my mathematically challenged friend  Wink

Observe the below quote, segwit will never attain 95%

Do you realise that segwit has until Nov to activate ?  i think you are a little premature.   Undecided


And I think many of you can't do math.


8 MB Blocks                   7.5% =>   100%- 7.5% =  92.5%   SEGWIT FAIL
or
Bitcoin Unlimited          18.3% =>   100%-18.3% =  81.7%   SEGWIT FAIL

Combined                    25.8%  =>   100%-25.8% = 74.2%   SEGWIT FAIL


Segwit has failed, Game Over it will never reach 95%.


 Cool
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February 16, 2017, 01:20:41 PM
 #75

It is dead? You don't see Segwit is higher than BU and 8MB? It means that in the future, miners will vote for it, and the proportions tell us that SW will be most possibly implemented.

Segwit has to have 95% to be activated my mathematically challenged friend  Wink

Observe the below quote, segwit will never attain 95%

Do you realise that segwit has until Nov to activate ?  i think you are a little premature.   Undecided


And I think many of you can't do math.


8 MB Blocks                   7.5% =>   100%- 7.5% =  92.5%   SEGWIT FAIL
or
Bitcoin Unlimited          18.3% =>   100%-18.3% =  81.7%   SEGWIT FAIL

Combined                    25.8%  =>   100%-25.8% = 74.2%   SEGWIT FAIL


Segwit has failed, Game Over it will never reach 95%.


 Cool


Again a side point. Imho bitcoin core does not care if seg witness fails. They at fine
with 1mb block size and btc less as a currency and more as a store of value. They will
then call it a win. They and blockstream keep control of code. Sad, but seems the trend.

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February 16, 2017, 02:24:05 PM
 #76

No waiting and no congestion. someone please explain to me why.

I'm guessing the fact that it does not bring about "no waiting and no congestion" might have something to do with it.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

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February 16, 2017, 09:43:12 PM
 #77

why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin


If segwit is activated, then Lightening Network will be usable ,
If LN is usable, then they can LOCK BTC up ,and start receiving transactions fees offchain

BTC miners will receive none of these transaction fees that happen offchain,
(it is ~$1000 per block at the moment.)

LN will get rich and BTC miners will go broke (as the block rewards cut in ½ ever 4 years)

LN is staging a complete & utter takeover of BTC away from the miners.  Wink
Which is why the miners are refusing to activate segwit, they want to keep their jobs.

 Cool
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February 23, 2017, 11:01:27 AM
 #78

So what is next solution for block size of bitcoin, that is question must be answered right now as comunity of bitcoin
than debates ego without any solution. I don't know the best solution for every one but it is not about competition,
it is about the problem of block size bitcoin must be finished by us as comunity of bitcoin.
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August 02, 2017, 11:38:22 AM
 #79


Segwit is DEAD!

Do you still believe so?

-
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August 02, 2017, 12:49:08 PM
 #80

why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin


If segwit is activated, then Lightening Network will be usable ,
If LN is usable, then they can LOCK BTC up ,and start receiving transactions fees offchain

BTC miners will receive none of these transaction fees that happen offchain,
(it is ~$1000 per block at the moment.)

LN will get rich and BTC miners will go broke (as the block rewards cut in ½ ever 4 years)

LN is staging a complete & utter takeover of BTC away from the miners.  Wink
Which is why the miners are refusing to activate segwit, they want to keep their jobs.

 Cool
I supported segwit from the first time I heard about it just to read this info here. I am not going like it anymore. I totally agree with miners then if the whole brain behind segwit is about some greedy people somewhere... MINERS WILL WIN ALWAYS, MY WISH
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