ViaBTC: Should we active Segwit?

[Leonard2016]

It's been less than a month since the last time they announced that they are against it https://medium.com/@ViaBTC/why-we-dont-support-segwit-91d44475cc18
Do you guys believe that they changed their mind  so quick and now they are seriously thinking to start signaling segwit?

in the end miners are just our employees who are mining the blocks. it doesn't matter if they want Segwit or not, that much.
as Lauda keeps repeating as the super majority wants Segwit, they will eventually see they have no other choice but to embrace it.

[Lauda]

There are still those wackos that are in favor of a split purely because they will have the double number of coins. Just for their own benefit, they have no problems with causing a massive blood bath in case a split becomes reality -- clowns are they. Either way, I voted Yes on the activate SegWit poll. It's a bit weird to vote on the second poll since it could basically mean anything, so I decided not to vote there.

Anyone in favor of a Bitcoin split is either very ignorant (and/or delusional) or an enemy of Bitcoin. Now if we were forced to do a split of any kind, then a bilateral split is the only way to go (to prevent damage on both chains). The BTU clowns don't even want that.

I wonder what the thinking is behind it. I presume it's a face saving measure where they can say they're fulfilling the will of 'the people' despite their own misgivings. A neat out for them.

It's probably a get-out clause to save themselves. If you resist a successful UASF, you become entirety irrelevant later on. This is why it is better for them to activate it via MASF.

Do you guys believe that they changed their mind  so quick and now they are seriously thinking to start signaling segwit?

It is very possible if you considering that the price of LTC increased about 600% primarily due to Segwit.

as Lauda keeps repeating as the super majority wants Segwit, they will eventually see they have no other choice but to embrace it.

Just look at the node stats (both listening and non-listening), the amount of companies ready or in support of Segwit. Combine that with the results of this Twitter poll (which is not exactly representative as a lot of people do not use Twitter), you get the proof required to confirm my statement (which I will keep repeating).

[DoublerHunter]

I think yes, we should activate segwit because it will be a big help for bitcoin because it will increase the size and it can help for the speed of transactions to be faster than now, i tried litecoin and even the segwit is not fully activated, i think it will make litecoin more efficient so why not give it a try for bitcoin

[franky1]

without threat without insult without bias i say this

segwit is not:
"Segwit is essentially equal to bigger blocks"
due to the requirement of people needing to move funds to segwit keypairs long AFTER activation, just to even get some where above the norm but below the expectation.

my statement is based on the reality of user requirement of segwit keypairs.

[buwaytress]

I'm actually really surprised to see this poll coming from Via, given their seemingly unshakeable stance, but I think it's a really good sign that either side of the argument can still change their mind based on pragmatic reassessments of the situation. My vote is yes, of course! Whatever decision Via takes, well done.

[QuartzBlockchain]

I and my team voted yes. Hope it will go ahead tho. 

[naughty1]

If you support Segwit and want to see it activated soon (and have a Twtitter account obviously), then you should vote for it: https://twitter.com/ViaBTC/status/860933165002522625
If you have voted 'Yes' on the first poll, you should probably vote 'No' on this one (even though they aren't mutually exclusive as Segwit is essentially equal to bigger blocks): https://twitter.com/ViaBTC/status/860933065022898176
They are probably reconsidering after they've seen the effect on Segwit in other alts.

It's like a bitcoin war? No, It is a measure to support bitcoin development, some larger blocks will help the bitcoin transactions be confirmed more quickly. Bitcoin is being loved by people, it should be improved better. So, I support segwit, I take a vote for "yes" answer. I never thought that F2Pool chose segwit because they had seen the effect on Segwit in other alts. You surprised me.

[Xester]

So there are 821 Votes for Yes, and 181 votes for No to implement SegWit. But do you really think they are going to take that poll into consideration for supporting SegWit? Because I don't think so (though I have voted). When money speaks, all the other noises turn to silence.

That is right and I agree with you that whatever vote we make and whatever polls we agree on still we can not make them change their minds. It will be the vote of the miners that will have a voice and not ours and thus even if we make a consensus or poll it will not make a voice. But theres no harm in trying, let us just do it and possibly a miracle will happen.

[FlamingFingers]

So 5,369 votes and it seems that SegWit is the most favored. 83% out of these (4,456 votes, more or less) are supporting Segwit, while the other 17% are not. Seems people want this to be settled. Well, thanks for pointing this poll out, Lauda.

[Atmelin]

Obviously no one can prove that the poll is legitimate and that there aren't fake/additional accounts being used.  However, any claim that it's illegitimate would be unreasonable, just because the amount of malicious people and hardcore pumpers is going to be roughly equal on each side.

Just like the F2Pool poll showed before, public support is largely for SegWit.  Miners will have to follow eventually or nothing will happen at all.

I hope there will be a mining hash pool. The present poll can be rigged. Somebody could register many Twit accounts and rig the poll.

[LFC_Bitcoin]

So 5,369 votes and it seems that SegWit is the most favored. 83% out of these (4,456 votes, more or less) are supporting Segwit, while the other 17% are not. Seems people want this to be settled. Well, thanks for pointing this poll out, Lauda.

Going some way to show that the majority of people prefer SegWit. The only reason it hasn't been activated is Chinese miners trying every trick in the book to stop it.

[adaseb]

I think eventually sometime in the future Segwit will get activated. Miners want money correct? Well they make money in 2 different ways.

1) Extra miner fees with every block they find. Currently its usually an extra ~1 BTC or so.

2) 12.5 BTC for the block reward.

After Segwit goes online their miner fees will be reduced because blocks won't be filled up as before. However with the huge adoption of Bitcoin in the near future, the fees will go back to the way they were. LightningNetwork is way too far off right now to think about.

However if BTC/USD can double/triple just by Segwit activation then their mined BTC will be worth much more.

Basically pick the better option.


14.00  BTC per block @ 1500 BTC/USD

12.75 BTC per block @ 2000 BTC/USD



Which option would the miners choose?


However there is a centralization issue at the moment in China that they probably still want control off. When BTC goes higher, more miner manufactures might start ASIC production and they will lose marketshare. By keeping BTC/USD low, then they can still keep their monopoly. But if BTC/USD is very high then they will start to get competition.

[BillyBobZorton]

Yes has clearly won with 80%, but unfortunately, Proof of Twitter is not a part of bitcoin, so it all comes down to ViaLTC wanting to do the switch or not. I think since f2pool did the switch there's some hope of other pools slowly switching up specially as LTC reaches an all time high and potentially reaches 50% of Bitcoin's marketcap, they may get scared and this may trigger all the miners to signal segwit in BTC. We'll see.

[bartolo]

It's been less than a month since the last time they announced that they are against it https://medium.com/@ViaBTC/why-we-dont-support-segwit-91d44475cc18
Do you guys believe that they changed their mind  so quick and now they are seriously thinking to start signaling segwit?

It is one thing to consider the theory and another thing is to see the practical use it is having and see how it is working. The application of Segwit in Litecoin is serving as a test field for Bitcoin and this application is giving very positive results, it is normal that more and more voices asking that it apply to Bitcoin.

Basically pick the better option.


14.00  BTC per block @ 1500 BTC/USD

12.75 BTC per block @ 2000 BTC/USD



Which option would the miners choose?

$ 21000 the first option, $ 25500 the second one, and 2000 BTC/USD is a conservative prediction thinking in medium term. Once the scalability issue is resolved the price will rise significantly and the users will complaint when they have to pay 50 cents (0.00025) per transaction.

[NeuroticFish]

It's been less than a month since the last time they announced that they are against it https://medium.com/@ViaBTC/why-we-dont-support-segwit-91d44475cc18
Do you guys believe that they changed their mind  so quick and now they are seriously thinking to start signaling segwit?

I also find surprising their change of mind. I voted, but I'm not too confident that they will actually take this poll into account much.
But yeah, I hope I'm wrong and they'll switch to SegWit soon after the poll. How long until the poll is concluded?

[Lauda]

So 5,369 votes and it seems that SegWit is the most favored. 83% out of these (4,456 votes, more or less) are supporting Segwit, while the other 17% are not. Seems people want this to be settled. Well, thanks for pointing this poll out, Lauda.

You're welcome. I was right about my initial assumptions, and the "losing side" is already whining about "sybil attacking" on Twitter.

-snip-
By keeping BTC/USD low, then they can still keep their monopoly. But if BTC/USD is very high then they will start to get competition.

Combine this with the ASICBOOST exploit and you get a monopoly that nobody can compete with (unless they want to constantly be operating at a loss).

But yeah, I hope I'm wrong and they'll switch to SegWit soon after the poll.

F2Pool did it not long after their poll concluded.

How long until the poll is concluded?

~2-3 hours. You can see that on the link, just take a closer look.

[btc_angela]

I was totally disappointed when Viabtc before releases a lot of statement against Segwit Activation. I was quite surprise about it and didn't find their reason to be valid. But now it looks like they are changing their tune. What gives? Do they come up to the conclusion that hard fork is not really the solution for bitcoin technology? I will vote now for Segwit.

[NeuroticFish]

Thanks Lauda. I didn't play with Twitter enough to know they can show the ending time and I totally missed it.

And somehow I felt like ViaBTC will be one of the hardest ones to convince to go to SegWit path, much more difficult than F2Pool.

Sorry for not quoting you, it's pretty hard to do that on my small display smartphone.

[7788bitcoin]

Unfortunately they have not changed they mind after the poll, but at least they try to find out.

https://supload.com/SyfsSeTJ-

[gentlemand]

Unfortunately they have not changed they mind after the poll, but at least they try to find out.

https://supload.com/SyfsSeTJ-

Let's give it a few weeks or months and then see what's what. The stars are very slowly aligning or colliding for something to be done. Segwit is the prime option for now.