Block issue SOLVED!? Extension Blocks

[Thatstinks]

http://www.coindesk.com/purse-proposal-touts-extension-blocks-bitcoin-scaling-solution/

Just sharing, I know its been thrown around before but seems to beginning to get praise, Extension Blocks!

Bitcoin Core is saved

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[anonymoustroll420]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

[Thatstinks]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

I read they are ready for it, I understand why certain mining pools, Core, seg etc are in favour of such a thing as Extension Blocks but why would BU say they like it?

[wck]

On the surface this seems like a sane approach compared to the core Segwit or a hard fork.

[Killerpotleaf]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

i think minners might seriously reconsider segwit, if they could get extension blocks shortly after.
my god, imagine 4MB effective coreblocksize + extension blocks + LN
bitcoin is going to scale up Up UP!!!!!!!! like a MOFO

[topesis]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

i think minners might seriously reconsider segwit, if they could get extension blocks shortly after.
my god, imagine 4MB effective coreblocksize + extension blocks + LN
bitcoin is going to scale up Up UP!!!!!!!! like a MOFO

I think the problem with most miners is that they don't understand with the future holds with all these changes coming to the space, fear of unknown

[jonald_fyookball]

Sounds like it could have some promise.

My concern would be the timeline.

Is there any code written?  How's this
different from segwit?  Is there a whitepaper?

Remember, this debate
Is just as much about economics as it is
about technicals.

If the core devs have said they want full blocks
and a fee market, how much scaling will they
be willing to allow?
 
The last thing we should do is waste 2 more years coding something
and then get stuck in another debate on how many mb go in the extension block.

I say HF to 2mb NOW and that will buy us some time while
extension blocks are researched.

[anonymoustroll420]

Is there any code written?

Yes the code has been written and is well tested. It's commonly called segwit. Segwit makes Bitcoin extensible and allows for extension blocks, sidechains and LN.

[kiklo]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

LOL,  

No you don't need segwit.

You need => https://bitcointalk.org/index.php?topic=1846625.msg18375513#msg18375513
Clif High's solution for Bitcoin to scale to infinity.


 


FYI:
BlockStream & The Banking Cartels need Segwit so they can make LN work, and rape you & your Children's Children by Financial Domination.
Just like they have the rest of the world with their fractional reserve system.
Segwit/LN is slavery , Wake up before it is too late.
Your Choice.

FYI2:
At the present time a minor block size increase or faster block speed would easily fix the current issues.
Segwit is the Trojan Horse that will infect the blockchain.

[Killerpotleaf]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

LOL, 

No you don't need segwit.

You need => https://bitcointalk.org/index.php?topic=1846625.msg18375513#msg18375513
Clif High's solution for Bitcoin to scale to infinity.


 

the practical application of the idea you link is Extension Blocks.

[Sadlife]

Why not just implement segwit?
Many solutions are arising and still none of it is being implemented. Why?
Because  it got stuck in the debate stage.
In many years to come many solutions will once again arise then it will be forgotten again like the others.

[andrew24p]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

i think minners might seriously reconsider segwit, if they could get extension blocks shortly after.
my god, imagine 4MB effective coreblocksize + extension blocks + LN
bitcoin is going to scale up Up UP!!!!!!!! like a MOFO

If only BU and the miners were not blocking advancement

[kiklo]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

LOL, 

No you don't need segwit.

You need => https://bitcointalk.org/index.php?topic=1846625.msg18375513#msg18375513
Clif High's solution for Bitcoin to scale to infinity.


 

the practical application of the idea you link is Extension Blocks.

Funny , no one remember the extension blocks until Clif's idea came out.
You're a good little minion and believe everything Core tells you. 



 

[kiklo]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

i think minners might seriously reconsider segwit, if they could get extension blocks shortly after.
my god, imagine 4MB effective coreblocksize + extension blocks + LN
bitcoin is going to scale up Up UP!!!!!!!! like a MOFO

If only BU and the miners were not blocking advancement

If by advancement , you mean blocking the ability of the Bankers to enslave the world and its children from a Fractional Reserve Crypto system.

Good Job, BTU.  


 

[Iranus]

I say HF to 2mb NOW and that will buy us some time while
extension blocks are researched.

Nice try.  SegWit has an effective block size of 2mb anyway, and doesn't require a hard fork which would cause the price to tumble in the short term at least and be detrimental to the network (especially with continued opposition from any major Core supporters).

[Amph]

now that is a good proposal, which will not lead to any kind of more centralization, and if you think about it it's not very different from dynamic block

without directly change the main one, i'm more curious about how it work more precisely, they are a bit too vague about this or they can't explain it well

also there is some confusion if it need segwit or not? can someone more competent explain well this part? and why it need segwit?

[majeed]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

Segwit does not extend block. This node only reduces the size of the transaction which means 1 block can include more transaction than usual. The size is still 1mb, no change at all. But it is really nice if they agree to activate segwit. I am looking forward to seeing litecoin activate their segwit. If that happens, bitcoin will follow litecoin's path

[cengsuwuei]

http://www.coindesk.com/purse-proposal-touts-extension-blocks-bitcoin-scaling-solution/

Just sharing, I know its been thrown around before but seems to beginning to get praise, Extension Blocks!

Bitcoin Core is saved

is good information if about block size issue is solved
so bitcoin unlimited and fork issue can die, and not effect again about bitcoin price

[dinofelis]

If by advancement , you mean blocking the ability of the Bankers to enslave the world and its children from a Fractional Reserve Crypto system.

Fractional reserve banking is in any case unavoidable, it has nothing to do with crypto.  From the moment there's something that has an established value but may have real or fake, perceived difficulties in handling directly (complexity, transaction price, slowness, security, ...), nothing can stop an entity to give out an IOU of that asset that can acquire more fluidity than the original.  In order to keep that IOU in 1-1 relationship, you don't need a full reserve, you only need enough reserve to settle differences with other IOU emitters.
Read the first few chapters of "Treatise on Money" by Keynes.  He explains this (it is his argument of why banking must be regulated, but that's another story).

The only way to avoid fractional reserve banking, is to have perfectly liquid money at no difficulty of usage, at no security risk, immediate and without cost.  From the moment you introduce one of those frictions, you will give an opportunity to fractional reserve banking. 

Hell, bitcoin itself is fractional reserve banking for fiat in a certain way !  You hold bitcoins which you think are going to be "re-imbursed for fiat" in exchanges.  Only if you use bitcoin in a closed circuit, you are not using bitcoin as fiat fractional reserve banking !  But most people think of bitcoin as "representing fiat value" and they look at coinmarketcap to see how much fiat they "hold" in their "bitcoin account", thinking that at any moment, they can "withdraw fiat" for it.

[Xester]

We need segwit to do extension blocks. They've been a part of segwit for a long time.

i think minners might seriously reconsider segwit, if they could get extension blocks shortly after.
my god, imagine 4MB effective coreblocksize + extension blocks + LN
bitcoin is going to scale up Up UP!!!!!!!! like a MOFO

That would be very good if that is true but if not then we will still be suffering from slow confirmation and many will shift to ethereum. But aside from increasing the blocksize I hope segwit could do something about the miner fees which is very high right now. But anyway if 4mb effective blocksize will be implemented successfully then it will be time for bitcoin to be used in shops not only online.