Scalling Bitcoin through increase in block size

[bug.lady]

The block size increase is not going to happen - Segwit2x was it's last chance and no-one is going to bother with another campaign.

Scaling is going to happen via alts. [...]
Basically scaling is happening very fast - by by-passing bitcoin and using alts.

I have noticed people talk about transacting bitcoin through alts, but it is something that I've never understood very well. It would seem that to convert bitcoin to altcoin you first need to have your bitcoin in an exchange. And provided you don't keep your founds online (which is not secure to say the least) you need at least one bitcoin transaction to do it. So I don't understand benefits of transacting through alts, really, if sending bitcoin directly is one transaction too

Unless you ment abondoning bitcoin completely and using alts only (?)

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[alyssa85]

The block size increase is not going to happen - Segwit2x was it's last chance and no-one is going to bother with another campaign.

Scaling is going to happen via alts. [...]
Basically scaling is happening very fast - by by-passing bitcoin and using alts.

it is something that I've never understood very well. It would seem that to convert bitcoin to altcoin you first need to have your bitcoin in an exchange. And provided you don't keep your founds online (which is not secure to say the least) you need at least one bitcoin transaction to do it. So I don't understand benefits of transacting through alts, really, if sending bitcoin directly is one transaction too

Unless you ment abondoning bitcoin completely and using alts only (?)

Once bitcoin started hitting scaling problems in mid 2017, loads of exchanges enabled the ability to buy alts with fiat.

For example on Kraken, you can buy Bitcoin Cash in USD or EUR, Ethereum in USD, EUR, CAD, JPY, and GBP, Ethereum Classic in USD and EUR, Litecoin in EUR, and USD, Zcach in EUR, USD and JPY and so on.

On the Korean exchanges, pretty much most alts listed can be traded directly for Korean won.

You can now by-pass bitcoin entirely. All that is left is merchant adoption of alts, and this is accelerating - lots of merchants have enabled ethereum, litecoin and bitcoincash. And Overstock allows people to use Shapeshift to purchase goods with about 12 alts.

Scaling is happening in the alt space.

[bug.lady]

The block size increase is not going to happen - Segwit2x was it's last chance and no-one is going to bother with another campaign.

Scaling is going to happen via alts. [...]
Basically scaling is happening very fast - by by-passing bitcoin and using alts.

it is something that I've never understood very well. It would seem that to convert bitcoin to altcoin you first need to have your bitcoin in an exchange. And provided you don't keep your founds online (which is not secure to say the least) you need at least one bitcoin transaction to do it. So I don't understand benefits of transacting through alts, really, if sending bitcoin directly is one transaction too

Unless you ment abondoning bitcoin completely and using alts only (?)

Once bitcoin started hitting scaling problems in mid 2017, loads of exchanges enabled the ability to buy alts with fiat.

For example on Kraken, you can buy Bitcoin Cash in USD or EUR, Ethereum in USD, EUR, CAD, JPY, and GBP, Ethereum Classic in USD and EUR, Litecoin in EUR, and USD, Zcach in EUR, USD and JPY and so on.

On the Korean exchanges, pretty much most alts listed can be traded directly for Korean won.

You can now by-pass bitcoin entirely. All that is left is merchant adoption of alts, and this is accelerating - lots of merchants have enabled ethereum, litecoin and bitcoincash. And Overstock allows people to use Shapeshift to purchase goods with about 12 alts.

Scaling is happening in the alt space.

so what you mean by that is abondoning bitcoin entirely and using alts end-to-end instead. The thing is I still believe in bitcoin and I would rather find some way for it to adapt then just throw it away and have it replaced.

Also, the scaling in the alt space is done by having multiple alts and multiple blockchains. Any single alt will run into the same throughput problems as bitcoin did, the moment it is as successful as bitcoin.

[alyssa85]

so what you mean by that is abondoning bitcoin entirely and using alts end-to-end instead. The thing is I still believe in bitcoin and I would rather find some way for it to adapt then just throw it away and have it replaced.

Also, the scaling in the alt space is done by having multiple alts and multiple blockchains. Any single alt will run into the same throughput problems as bitcoin did, the moment it is as successful as bitcoin.

We'd all prefer that, but that ship has sailed - when segwit2x was abandoned, the market gave up on bitcoin and simply moved on. Merchants disabled bitcoin, they enabled alts. Exchanges enabled alt/fiat trading.

Markets are like that - they can't be controlled by any one org, and if you fail to address prblems, they simply work around you.

What has happened can't be undone - as long as the alts deliver, they will increase adoption. If anything we're seeing an acceleration of this as more and more exchanges enable alt/fiat trading.