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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1980152 times)
cypherdoc
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August 16, 2015, 05:09:54 PM
 #30741

It ignores the fact that for big blocks to be happening, there must already be 75% of hashing power signalling support for it. When that happens the first big block can be mined, before that bigger blocks are not mined.

So now you have 75% of the network working on a chain that supports bigger blocks and mining bigger blocks, whilst 25% try to mine a chain that only contains <1MB blocks.

It doesn't take a genius to figure out which chain will *very quickly* becomes longest.

you had to go and ruin it, didn't you? 
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August 16, 2015, 05:10:29 PM
 #30742

Bitcoin XT (larger blocks) just moved into 3rd place:



I love this is happening right now, this is no more than a true democratic voting mechanism, lets people make their choice.

Some individuals are arguing about the power of 2 devs to fork the chain but in the end are the users and miners who cast their vote not just Gavin and Mike.

We are moving from a totalitarian regime to a democratic one.

This shows that Bitcoin is resilient to anyone that tries to cripple it, devs included.

One thing should be for granted, that Bitcoin sticks with the original Shatoshi's vision, where no layers on top of it where required.

SideChains and Lighting are nice concepts but they are no more than altcoins and the current Bitcoin Core was turning into an altcoin to acomodate those layers, far for the original vision. I don't buyed back in 2012 this concept after reading Shatoshi's white paper and i'm sure most people feels this way.

Let's people vote! Smiley

"pit pat piffy wing wong wang"
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August 16, 2015, 05:15:37 PM
 #30743

SC's are clearly altcoins.  

brg444 and Adam spent months teaching us how any type of coin ala Truthcoin can hitch themselves to a SC in addition to the migrated scBTC.  in fact, have you EVER heard Blockstream place any type of restriction on what kind of speculative asset can be supported on a SC?  answer: no.  they are a form of dilution, hence inflation, to Bitcoin and will turn Bitcoin into a WoW trading platform.
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August 16, 2015, 05:21:26 PM
 #30744

Exactly my thoughts Cypher. And i'm sure most people are not stupid and can see the same.

Anyone that bought a stake on The Blockchain by buying bitcoins is going to defend their money from anyone who tries to dilute it to another layers, by voting.

And this is what is happening right now.

"pit pat piffy wing wong wang"
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August 16, 2015, 05:28:04 PM
 #30745

I can understand that theymos is in a very difficult spot - he is probably right (in a literal, technical sense) in the assertion that XT as a theory is on topic, but as a viable, downloadable solution it becomes an alt-coin. Until it reaches consensus,

But what troubles me is the zeal with which this policy is still being executed across the platforms. At this point, who really benefits from a suppression of debate?
(bear in mind that we are free to discuss it here and many other topics)

During the fall of the Berlin wall, there was a pivotal moment when the border guards finally recognised the futility of their duty, and allowed people through unchallenged.

Way out of the mess: Core adds a largeblock patch, different from gavins but who cares. Othere XT patches are delayed to make them look important.

If not, they go the way of the Xfree86 developers - into the fog.

Next fight is over the name. I suggest renaming XT to core by april depending on 75% supermajority as expressed by just doing it. Smiley



It would have to follow a BIP. But isnt this scenario what MH and GA wanted all along?  The failure to get this resulted in XT.

Exactly. It is the way out, no fork, everybody is happy (some just a tad butthurt).




i'm not sure about that.  no one, esp me, wants to live under a Blockstream totalitarian regime that only will act when they have a gun pointed at their heads.  look at some of the kludges they've slipped into the code w/o anyone knowing according to Hearn's forking article.

Yes, I will continue with XT also, but if they open up for longer blocks, they might keep their team. Some would not bother to switch, and the "officialness" rings with some.


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August 16, 2015, 07:12:00 PM
 #30746

SC's are clearly altcoins.

Different class.  'Sidecoins' are most accurately described as a proxy for Bitcoin.  Use of sidecoins impacts the macro-economics of Bitcoin in pretty much exactly the way that use of Bitcoin itself does.  'Alts' are completely stand-alone and as such are competitors.  'sidechains' are more like colored-coins and in some ways it might be argued that this is what they are at their core.

Sidechains are a disaster for people hoping to do analytics on the blockchain down to an individual level because they need to tap into every sidecoin's system.  Since some sidechains will be specifically designed to make that a challenge the task becomes impossible.  Disaster!

It cannot really be argued that sidechains are going to steal Bitcoin's thunder by robbing it of transaction fees since everyone on the bloatist side is dead set against meaningful fees.  It's pretty clear to me as someone who has been in the business that to the extent that revenue is anticipated by Bitcoin infrastructure operators, it is to come from harvest of intelligence data and either processing it themselves or selling it to a processor.  This is the way most internet services work these days.

A nicety for some is that the highest value for intelligence comes from 'full capture' so there is an economic incentive to achieve this.  Near-monopolization of operating infrastructure would also would make coin white/black-listing relatively workable just as Mr. Hearn has predicted for years.
 
brg444 and Adam spent months teaching us how any type of coin ala Truthcoin can hitch themselves to a SC in addition to the migrated scBTC.  in fact, have you EVER heard Blockstream place any type of restriction on what kind of speculative asset can be supported on a SC?  answer: no.  they are a form of dilution, hence inflation, to Bitcoin and will turn Bitcoin into a WoW trading platform.

The economics of 'speculation' in a full-peg environment are no different than people simply using native Bitcoin heavily.  People are perfectly free to speculate in native Bitcoin, and to date that is what has happened in the economy mostly I think.

You bloatcoiners may have plans to implement control measures in XT which preclude speculation as far as I know.  With the infrastructure needed for tainting, control of speculation would, in fact, be tenable.

edit: slight (between ngix gateway errors.)

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August 16, 2015, 07:49:24 PM
 #30747

You know it is bad when the top post on /r/bitcoin is a Tyrion Lannister quote on free speech.

https://www.reddit.com/r/Bitcoin/comments/3h6exq/request_let_users_decide_what_content_they_want/

It's even worse when the highest upvoted post (that even made it to /r/all) is an active call to remove /r/theymos with over 90% in favor.

https://www.reddit.com/r/Bitcoin/comments/3h5f90/these_mods_need_to_be_changed_upvote_if_you_agree/
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August 16, 2015, 07:51:44 PM
 #30748

still ramping:



Nodes are great an all, but consensus is derived from miners. 100% of nodes could be running XT but it wouldn't matter if the miners don't.

What is needed an each way to track each pool and how they are voting, that way individual miners could vote with their feet and move to pools that match their views.
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August 16, 2015, 07:57:18 PM
 #30749

The only possible attack here is that over the next several months MP will explicitly reject blocks from nodes advertising they are 70010 protocol. For this to have any material effect though, he would need >50% of the current network hashing power to also explicitly reject those blocks, so that people running XT are disincentivised to continue doing so.

I have joined btc way too late to have a clear picture of MP's "arsenal" consistency, but it's not the first time that I heard a respectable member of the community to refer to his disruptive potential in a serious manner. To make a long story short, is he really so powerful?

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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August 16, 2015, 07:58:49 PM
 #30750

i only watch the price of bitcoin !! Smiley)

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August 16, 2015, 08:02:44 PM
 #30751


Nodes are great an all, but consensus is derived from miners. 100% of nodes could be running XT but it wouldn't matter if the miners don't.

What is needed an each way to track each pool and how they are voting, that way individual miners could vote with their feet and move to pools that match their views.

Jeff Garzik stated today that more than 80% of the hashpower supports blocks  larger than 1MB

https://twitter.com/jgarzik/status/632877777688006656


Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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August 16, 2015, 08:07:12 PM
 #30752


Nodes are great an all, but consensus is derived from miners. 100% of nodes could be running XT but it wouldn't matter if the miners don't.

What is needed an each way to track each pool and how they are voting, that way individual miners could vote with their feet and move to pools that match their views.

Jeff Garzik stated today that more than 80% of the hashpower supports blocks  larger than 1MB

https://twitter.com/jgarzik/status/632877777688006656

Up until now they have been communicating this as BIP100. We need to track BIP101 adoption.
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August 16, 2015, 08:25:42 PM
 #30753

The only possible attack here is that over the next several months MP will explicitly reject blocks from nodes advertising they are 70010 protocol. For this to have any material effect though, he would need >50% of the current network hashing power to also explicitly reject those blocks, so that people running XT are disincentivised to continue doing so.

I have joined btc way too late to have a clear picture of MP's "arsenal" consistency, but it's not the first time that I heard a respectable member of the community to refer to his disruptive potential in a serious manner. To make a long story short, is he really so powerful?

absolutely not. 

i've never heard of him influencing anything except for the bunch of Cripplecoiner's around here who seem to idolize him.  or maybe he's a father figure.

there'e probably plenty of Bitcoiner's who have more coin than him, if that is even a measure at all of power, which i doubt.
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August 16, 2015, 08:32:10 PM
 #30754


Jeff Garzik stated today that more than 80% of the hashpower supports blocks  larger than 1MB

https://twitter.com/jgarzik/status/632877777688006656

I can pretty much guarantee that large miners will support whatever-the-fuck those who they rely on will tell them to.  If not, 'poof'.  The notable services such operators rely on are networking provided by global providers (if they are big enough to arrange their own peering, and if not, their more consumer grade ISP) and governments within who's jurisdiction they operate.

Both the corporate network providers and government regulatory and judicial systems are also quite linked to one another, and increasingly with global trade agreements it really does not matter what sovereign governmental structures want anyway and in so does away with pesky democracy and outdated constructs like privacy, freedom of speech, freedom of association, etc.

edit: fix quotes...again.

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August 16, 2015, 08:33:23 PM
 #30755

When cypherdocs capitulate, there will be future again for Bitcoin.

Sorry pal, you have to get rekt.

BTC: 1K9atu5zgz7izCMAynk5adBJ8Qn2YgS6nT
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August 16, 2015, 08:39:01 PM
 #30756

still ramping:



Nodes are great an all, but consensus is derived from miners. 100% of nodes could be running XT but it wouldn't matter if the miners don't.

What is needed an each way to track each pool and how they are voting, that way individual miners could vote with their feet and move to pools that match their views.

Logical fallacy: if 100% of nodes are running xt then the miners are also running xt.

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August 16, 2015, 08:46:53 PM
 #30757


Jeff Garzik stated today that more than 80% of the hashpower supports blocks  larger than 1MB

https://twitter.com/jgarzik/status/632877777688006656

I can pretty much guarantee that large miners will support whatever-the-fuck those who they rely on will tell them to.  If not, 'poof'.  The notable services such operators rely on are networking provided by global providers (if they are big enough to arrange their own peering, and if not, their more consumer grade ISP) and governments within who's jurisdiction they operate.

Both the corporate network providers and government regulatory and judicial systems are also quite linked to one another, and increasingly with global trade agreements it really does not matter what sovereign governmental structures want anyway and in so does away with pesky democracy and outdated constructs like privacy, freedom of speech, freedom of association, etc.

edit: fix quotes...again.

Proof of your claim?

Everyone makes their own choices.

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August 16, 2015, 08:49:40 PM
 #30758

SC's are clearly altcoins.

Different class.  'Sidecoins' are most accurately described as a proxy for Bitcoin.  Use of sidecoins impacts the macro-economics of Bitcoin in pretty much exactly the way that use of Bitcoin itself does.  'Alts' are completely stand-alone and as such are competitors.  'sidechains' are more like colored-coins and in some ways it might be argued that this is what they are at their core.

i see sidecoins as inflationary.  the author can choose any issuance or inflation schedule he pleases to be backed by scBTC.  when viewed this way, the entire fiat money system could be viewed as a sidechain with USD as the sidecoin with gold backing at least before 1971.
Quote

Sidechains are a disaster for people hoping to do analytics on the blockchain down to an individual level because they need to tap into every sidecoin's system.  Since some sidechains will be specifically designed to make that a challenge the task becomes impossible.  Disaster!

It cannot really be argued that sidechains are going to steal Bitcoin's thunder by robbing it of transaction fees since everyone on the bloatist side is dead set against meaningful fees.  It's pretty clear to me as someone who has been in the business that to the extent that revenue is anticipated by Bitcoin infrastructure operators, it is to come from harvest of intelligence data and either processing it themselves or selling it to a processor.  This is the way most internet services work these days.

total misunderstanding of this argument.  you're talking about individual tx fees which can stay cheap w/o a block limit.  what will grow is the total aggregate amount of tx fees to pay miners as the reward dissipates and as the userbase grows unconstrained.  these meaningful fees will allow Bitcoin to keep secure by growing mining security.
Quote

A nicety for some is that the highest value for intelligence comes from 'full capture' so there is an economic incentive to achieve this.  Near-monopolization of operating infrastructure would also would make coin white/black-listing relatively workable just as Mr. Hearn has predicted for years.
 

as the userbase spreads out, so will full node and mining distribution.  this will be good as we need to move away from the areas of highest concentration today, that being N. America and Europe.
Quote

brg444 and Adam spent months teaching us how any type of coin ala Truthcoin can hitch themselves to a SC in addition to the migrated scBTC.  in fact, have you EVER heard Blockstream place any type of restriction on what kind of speculative asset can be supported on a SC?  answer: no.  they are a form of dilution, hence inflation, to Bitcoin and will turn Bitcoin into a WoW trading platform.

The economics of 'speculation' in a full-peg environment are no different than people simply using native Bitcoin heavily.  People are perfectly free to speculate in native Bitcoin, and to date that is what has happened in the economy mostly I think.

You bloatcoiners may have plans to implement control measures in XT which preclude speculation as far as I know.  With the infrastructure needed for tainting, control of speculation would, in fact, be tenable.

edit: slight (between ngix gateway errors.)

no, SC's encourage speculative money to chase sidecoins, scBTC, and/or any other speculative asset they choose to sell on the SC like Truthcoins.  given that these SC's are bound to be less secure, they will have much greater failure rates than if they just bought BTC itself or invested in businesses that deal in BTC directly.  what we want instead is for speculators to invest in BTC itself to drive the market price much higher.  which is actually needed to allow large $million tx's to occur on MC w/o causing volatility.  that, or invest in merchants/businesses that can service the userbase growth that a no block limit will encourage.
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August 16, 2015, 08:49:51 PM
 #30759

Nick Szabo on Twitter: https://twitter.com/NickSzabo4/status/633011973634961408

"A much more reasonable block size proposal, following historical growth rates in a "limiting nutrient" resource: https://t.co/RRapcLSm6j"
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August 16, 2015, 08:59:54 PM
 #30760

Nick Szabo on Twitter: https://twitter.com/NickSzabo4/status/633011973634961408

"A much more reasonable block size proposal, following historical growth rates in a "limiting nutrient" resource: https://t.co/RRapcLSm6j"

This follows from the idea that, strictly speaking, there is no need for a hard block limit at all. There is enough information in the network ( difficulty, recent block sizes, number tx's, fee level, etc.) o be able to calculate an 'on the fly' block limit  that responds to changing needs in a manner not dissimilar to block difficulty.

Rising costs of creating a block ( increased difficulty) can be matched with revenue (fees, subsidy) while allowing for growth to support a greater tx throughput.

But for now, we are having enough difficulty trying to get some people to accept that we need a bigger block at all, so first steps first.

We must make money worse as a commodity if we wish to make it better as a medium of exchange
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