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Question: Bitcoin fork proposal by respected Bitcoin lead dev Gavin Andresen, to increase the block size from 1MB to 20MB.
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Author Topic: Bitcoin 20MB Fork  (Read 154754 times)
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February 28, 2015, 10:44:29 PM
 #1821

5) i'm not here to waste my time with the usual toxic folks (r2d221 and mr. buffer) so signing out now.
Signing out now are you. So what account you going to sign in with next?

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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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March 02, 2015, 11:19:00 AM
 #1822

If we keep the size now, I suspect "interest rates" and especially in regards to inflation targeting will end.

http://www.ctvnews.ca/business/will-the-bank-of-canada-cut-rates-again-markets-to-focus-on-announcement-1.2258856

Will this happen with a higher/bigger block size?
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March 02, 2015, 02:45:51 PM
 #1823

The experiment is ongoing. So far there is no big demand for the coin and it remains to be seen if it can even stay functional (or is). There is something to learn from that. If you want to deny that there can be things learned from such experiments well that's your narrow view then and i don't have to share that.

It's the first altcoin experiment for bloatcoin proposal and so far it looks like a failure. Nobody is mad enough to even put money into it - so maybe that tells you something about the value of the idea.

... maybe it's still going to pump ... but will it survive the dump? Will it stay functional? Is it even functional now? Will there be demand? Will it be able to maintain a value on the mid/longterm timeframe? Is it even remotely viable?
I'm going to measure the demand for air travel to Hong Kong.

The experiment will take the form of building a four terminal, eight runway international airport in Ittoqqortoormiit.

If that airport fails commercially, it will prove a lack of demand for increased airport capacity in Hong Kong.
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March 02, 2015, 03:04:22 PM
 #1824

I'm going to measure the demand for air travel to Hong Kong.

The experiment will take the form of building a four terminal, eight runway international airport in Ittoqqortoormiit.

If that airport fails commercially, it will prove a lack of demand for increased airport capacity in Hong Kong.

Demand is irrelevant if it's not economically sensible to satisfy it.
Nobody cares about demand for free lunch-money micro-transactions at the fucking brink's headquarters.

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March 02, 2015, 03:06:22 PM
 #1825

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
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March 02, 2015, 03:33:56 PM
 #1826

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.
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March 02, 2015, 03:37:58 PM
 #1827

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

In your logic you could download only what you're interested in. Not *all* chains.
Which is actually better than having to download one massive bloatchain.

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March 02, 2015, 04:05:48 PM
 #1828


We also need to testrun a permanent 1MB cap altcoin. We haven't got one of those yet.


which is false

Sorry I was unaware of one. Can you post a link to this altcoin?

Could ixcoin or i0coin be of any help? These are copies of bitcoin that have been running for a few years now. And seeing as how they are copies of bitcoin they should have a 1 MB cap. Maybe someone can build something like satoshi dice to stress test one of those networks!
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March 02, 2015, 04:06:45 PM
 #1829

Could anyone please explain to me what would happen if the block size is inscreased ? goods that could happen and bad that could happen (if there is any) , also since Bitcoin is an open source , who exactly controls the block size ? Bitcoin Foundation or something ?

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March 02, 2015, 04:08:20 PM
 #1830

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

In your logic you could download only what you're interested in. Not *all* chains.
Which is actually better than having to download one massive bloatchain.

I know, but if someone need full blockchain for Bitcoin it is reasonable to expect he will want full blockchain for whatever coin he may be required to use. I can argue having one bloatchain is much easier than manage tens or maybe hundreds different blockchains. It is the same as if there is one fiat currency accepted everywhere worldwide versus current situation with hundreds of fiat currencies worldwide. This is why I preffer just one coin, one blockchain. As long as you can manage the blockchain on one average or better PC, it is no brainer choice. You can run current Bitcoin full node even on very low end PC, 1GHz CPU, 1GB RAM, 100GB HDD...

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March 02, 2015, 04:35:05 PM
 #1831

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?

An economy based on endless growth is unsustainable.
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March 02, 2015, 04:37:19 PM
 #1832

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?
So making the blocks bigger will fix this?

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
R2D221
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March 02, 2015, 04:39:47 PM
 #1833

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?
So making the blocks bigger will fix this?

No. What I (and cambda, hopefully) am trying to say, is that you will need a whole lot of disk space, no matter what solution is chosen. There's no way to escape that.

An economy based on endless growth is unsustainable.
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March 02, 2015, 04:42:10 PM
 #1834

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?
So making the blocks bigger will fix this?

No. What I (and cambda, hopefully) am trying to say, is that you will need a whole lot of disk space, no matter what solution is chosen. There's no way to escape that.

ever heard about blockchain pruning?
it certainly IS possible.

real problem is bandwith anyway - you cant escape that

XMR || Monero || monerodice.net || xmr.to || mymonero.com || openalias.org || you think bitcoin is fungible? watch this
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March 02, 2015, 04:57:31 PM
 #1835

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?
So making the blocks bigger will fix this?

No. What I (and cambda, hopefully) am trying to say, is that you will need a whole lot of disk space, no matter what solution is chosen. There's no way to escape that.
This is on acceptable, this will let bitcoin fail in the long run.  I suggest some super-nodes or something els..

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
onemorexmr
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March 02, 2015, 05:00:07 PM
 #1836

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?
So making the blocks bigger will fix this?

No. What I (and cambda, hopefully) am trying to say, is that you will need a whole lot of disk space, no matter what solution is chosen. There's no way to escape that.
This is on acceptable, this will let bitcoin fail in the long run.  I suggest some super-nodes or something els..

luckily there is already a solution called pruning. just not implemented atm.

btw. the current blockchain is around 30gb. do you really think this is a problem?
even 1tb disk space is no problem with current hardware.

problem is bandwith...

XMR || Monero || monerodice.net || xmr.to || mymonero.com || openalias.org || you think bitcoin is fungible? watch this
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March 02, 2015, 05:04:45 PM
 #1837

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

If you keep Bitcoin 1MB block limit, people will be forced to use other altcoins as well, so you basically have to download all blockchains anyway because not everyone is going to accept Bitcoin, so you save nothing from this point.

Exactly, why don't people understand this?
So making the blocks bigger will fix this?

No. What I (and cambda, hopefully) am trying to say, is that you will need a whole lot of disk space, no matter what solution is chosen. There's no way to escape that.
This is on acceptable, this will let bitcoin fail in the long run.  I suggest some super-nodes or something els..

luckily there is already a solution called pruning. just not implemented atm.

btw. the current blockchain is around 30gb. do you really think this is a problem?
even 1tb disk space is no problem with current hardware.

problem is bandwith...
Both is a problem right now.

Get a HUGE 3% discount with promo code: MOON @ Genesis Mining
https://www.genesis-mining.com
RoadStress
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March 02, 2015, 06:48:51 PM
 #1838

Nobody cares about demand for free lunch-money micro-transactions at the fucking brink's headquarters.

Micro-transactions aren't the only transactions that will not fit in a 1MB block limit.

The Bitcoin wallets getting to big people. And downloading it go to slow, It took me 3 days to download. (I have 200MB up and Down INTERNET connection)

There are wallets that do not require the whole blockchain to be downloaded. Also this issue is only present one time. Afterwards this isn't an issue.

Have you used the bootstrap.dat file so you can download torrent-style?

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March 02, 2015, 07:52:17 PM
 #1839

Micro-transactions aren't the only transactions that will not fit in a 1MB block limit.

Yeah. Get used to it.

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March 02, 2015, 07:59:11 PM
 #1840

Micro-transactions aren't the only transactions that will not fit in a 1MB block limit.

Yeah. Get used to it.

they wouldnt fit the 20MB blockchain either
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