Fork off

[DooMAD]

At the end of the day, everyone is going to do what they think is best for Bitcoin.  And that's what you should all be thankful for, because you're free to choose.  You can argue about it if you really want to, or you can just support your preferred option and see how it plays out. 

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[allthingsluxury]

It will be very interesting to see how this all unfolds.

[a fool and his money ...]

There should be a small fork before the next block reward halving, maybe raise the size limit to 1.5MB just to hold the hands of the crybabies. Then after the halving, raise it to 25MB. I don't understand the reluctance of upgrading. When Bitcoin came out most people were still using Windows XP. All they're doing is changing a number FFS!

what's a 'small fork'? Something like 'a little pregnant'?

[altcoin hitler]

I'm dumping into alts. Fork you!

Bitcoin has become serious monkeybusiness

[Atruk]

I will vote with MP and tvbcof. I don't think the new fork will be economical to mine or use.

[cyberpinoy]

what about the news story where gavin so strupidly advised newcomber basically not to waste thier time on bicoins investments? https://bitcointalk.org/index.php?topic=921669.0 how will this shit help us increase awareness and the value of bitcoins. Seems to me someone was bought off by the banks, So not even bitcoin developers are strong enough to "Just Say No" to banks dollars. It would be nivce if he would spread some of that pay off to the people who worked thier asses off in this project of his.

[solex]

I will vote with MP and tvbcof. I don't think the new fork will be economical to mine or use.

Lets say for example we set a Target, that the average Blocksize is always 80% of max. Blocksize and adjust the max. Blocksize by max. +-20% all 2016 Blocks to meet this Target.

This would ensure that Blockchain space always remains scarce, therefore ensuring TX fees for fast transaction, by at the same time ensuring that it will always be possible to make a transaction.

I'm looking forward to learn why this wouldn't work.

The problem with this is that some pools still mine blocks where the only transaction is the one that awards them their subsidy, and that can really poison averages.

Than change it to The average of the biggest 50% of all Blocks mined every 2016 Blocks. That would also mean that at least 50% of all miner would have to agree that a increase of the max. blocksize is necessary and also ensuring no minority can keep an increase from happening.

So (numbers changed a little):

Target: Average Blocksize of the biggest 1008 Blocks is always 90% of max. Blocksize
Adjustment: Max. Blocksize, max. +-20% all 2016 Blocks to meet this Target.

Isn't it amazing the difference adding one small caveat makes. This is why I'd default to trusting Gavin's judgement, because everyone is trying to smash all of these ideas in his face and he has to make decisions that protect brilliant ideas from naive attacks. http://www.schneier.com/blog/archives/2011/04/schneiers_law.html

So, what changed?

[calaber24p]

Bitcoin can be hi-jacked by a simple majority?  

The ALT coins can fork.  

But once a crypto is past the age of 4.  Or $10m in marketcap.
No you do not fork.

Bitcoin the only value it has against the ALTs is that it will not fork, because it is impossible to establish a 99% consensus.  

Want a better 'bitcoin' make one
Launch it on the market.  

Hell give a snap shot distribution to the bitcoin holders.

Let the market, not a group of devs decide.

Oh fuck off, how do you make anything better and more efficient then? Going through these threads more and more makes me think open source projects suck. No one wants to take leadership and do what at least they think is best for the project. I say just do it and watch the whiners slither back into their holes and do nothing about it.

[railzand]

So, what changed?

The landscape for bitcoin mining will be completely different at the end of 2013 than the beginning.

Yes, change happens. It is inevitable, like death and taxes.
Rocks do it.
Opinions do it.
Gavin Andresen did it.
Even Lords of La Serenissima do it.
Every one of us will change, many times over, thoroughly, completely, and again, because bitcoin was invented:

23:48:53 mircea_popescu: reminds me of a much older but quite central asciilifeform point : "These fools have been handed a technology so clever, so disruptive and revolutionary, that the rulers of the world would have to fully unmask themselves as ruthless tyrants in order to suppress it, ? or give up their thrones on their own free will ? if it were used correctly, that is."

And we propose to change it?

Are we so arrogant that we can say we begin to know bitcoin's correct uses? Maybe they are just the microtransactions, drugs and poker that this fork would lead to?

I doubt it, because that sounds very much like the status quo, but with crypto, yo.

[cbeast]

And we propose to change it?

Are we so arrogant that we can say we begin to know bitcoin's correct uses? Maybe they are just the microtransactions, drugs and poker that this fork would lead to?

I doubt it, because that sounds very much like the status quo, but with crypto, yo.

There are thousands of altcoins that can serve niche markets. Bitcoin has a greater destiny... or fate.

[Flashman]

Upon release, core 0.1, did it even HAVE a block size limit?

So much anguish over removing a bandaid and replacing it with a knee pad.

[wang_yan]

I will vote with MP and tvbcof. I don't think the new fork will be economical to mine or use.

I don't understand why Gavin is in such a hurry?

[inBitweTrust]

I don't understand why Gavin is in such a hurry?

He has been planning, testing and discussing this for at least 3 months. (http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/) It would be good to accomplish this before the next bubble where transactions could grow beyond 7tps (which is the ideal maximum now).

[davout]

It would be good to accomplish this

No.

the next bubble

k.

[jbreher]

It would be good to accomplish this

No.

the next bubble

k.

Ummm... really? davout?

For a formerly important participant in this experiment, where the heck have you been?

[inBitweTrust]

Expect to see more of these... more often ... one megabyte isn't going to be enough...

[statdude]

What are the characteristics of proposed fork in a nutshell?

[matt4054]

What are the characteristics of proposed fork in a nutshell?

Extending max. blocksize from 1 MB to 20 MB. That's it.

[Jammalan the Prophet]

I don't know if anybody has calculated this before as it seems pretty stupid , but how much it will cost in transaction fees to fill all the blocks to the maximum ?

[solex]

I don't know if anybody has calculated this before as it seems pretty stupid , but how much it will cost in transaction fees to fill all the blocks to the maximum ?

Right now. Less than 1 BTC per block, roughly 100 BTC per day. Which is a relatively cheap attack. The limit creates an increasing risk of this event as normal tx volumes approach it.