5 Chinese mining pools propose 8MB block size - page 4.

Amph

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Quote from: Lauda on June 16, 2015, 02:39:56 PM

I wouldn't be so sure of that. Currently 37% of the hashrate is labeled as 'unknown'. How would you know if this is a single entity or not? You could always look at the IP addresses that are solving the unknown blocks, but that doesn't tell us too much. The first one is in Iceland and is solving quite a good number of blocks.

it could also be that because all good places in china are occupied, some chinese miners are building their facility in other part of the world, with still cheap electricity, none is saying that chinese miners can mine in china only

it does not really matter honestly, if they are contributing to bitcoin success, and not hinder its path

cryptojumper

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They sound reasonable, a jump to 20MB may be too big and if major players say so - those XT guys should listen to them or at least discuss it with them. The worst thing would be if nothing happened at all or if there is a war over block size and community gets divided..

turvarya

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I recently stumbled over this:
http://hashingit.com/analysis/39-the-myth-of-the-megabyte-bitcoin-block

TL;DR
The miners make their own limit anyways. If they it is a max. 8 MB block, it is a 8 MB block.

trinaldao

copper member

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Post your ann & bounty just contact me

Quote from: hl5460 on June 16, 2015, 03:39:00 AM

English version
http://www.reddit.com/r/Bitcoin/comments/3a0n4m/why_upgrade_to_8mb_but_not_20mb/

sound like good and interesting

Lauda

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Terminated.

Quote from: neurotypical on June 16, 2015, 05:50:10 PM

After watching the video by Gmaxwell where he explains the blockstream technology along with the features of sidechains etc, I think im a proposal for that now. But I still think the blocksize will need an eventual upgrade from 1MB.

How about we focus on things that actually exist and are working? Don't get me wrong, I also favor sidechains even with their cons, however I don't think that there is enough time to ready them.
This is why the 8 MB blocks should just be buying time and leaving headroom for the network.

Quote from: Klestin on June 16, 2015, 05:30:06 PM

Will they please stop trying to blame the great firewall of china?

15 MBit = 11 seconds to transfer a 20 MB block. Additionally, for every block mined outside of China that needs to traverse this "bottleneck", there's one mined inside China that needs to migrate out. With over 50% of blocks now mined inside China, a larger block size stands to benefit them on average, albeit by a tiny amount.

Connecting to a server in China isn't the same as making a connection from China.

goosoodude

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Taking a look at the reddit comments, I'm a bit hesitant about the authenticity behind this article. Are we sure that all those pools mentioned indeed put their signature on this?

left-ca

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I will be backing antpool

I think 8 is a good compromise

neurotypical

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After watching the video by Gmaxwell where he explains the blockstream technology along with the features of sidechains etc, I think im a proposal for that now. But I still think the blocksize will need an eventual upgrade from 1MB.

Klestin

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Activity: 493

Merit: 500

Will they please stop trying to blame the great firewall of china?

15 MBit = 11 seconds to transfer a 20 MB block. Additionally, for every block mined outside of China that needs to traverse this "bottleneck", there's one mined inside China that needs to migrate out. With over 50% of blocks now mined inside China, a larger block size stands to benefit them on average, albeit by a tiny amount.

Lauda

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Terminated.

This is quite interesting. I knew that there wouldn't be an end to this story yet.
However what I'm concerned is:

Quote from: Amph on June 16, 2015, 02:00:38 PM

not so sure about this, even in the remotely case that all farms will be build in china, there will be always a big competition between those farms, it's no like , all these farms belong to one entity only, and as long as there are multiple pools everything should be fine

I wouldn't be so sure of that. Currently 37% of the hashrate is labeled as 'unknown'. How would you know if this is a single entity or not? You could always look at the IP addresses that are solving the unknown blocks, but that doesn't tell us too much. The first one is in Iceland and is solving quite a good number of blocks.

Quote from: spazzdla on June 16, 2015, 01:11:47 PM

Or people to actually mine at their house with miners like the "new-rbox"
If we are only going to mine for profit BTC will become centralized zero questions asked.

For the 1000th time, if you think you are a "bitcoiner" and you are not mining you are not a bitcoiner.

The problem lies deep within each human. The majority are led by greed and thus they won't mine (home;hobby) because they can't profit from it. I guess that the era of home miners is long gone.
Also, that last part is very wrong.

R2D221

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Quote from: spazzdla on June 16, 2015, 01:11:47 PM

if you think you are a "bitcoiner" and you are not mining you are not a bitcoiner.

According to whom?

Amph

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Quote from: johnyj on June 16, 2015, 12:07:55 PM

This is centralization, we need more farms at other places of the world Grin

not so sure about this, even in the remotely case that all farms will be built in china, there will be always a big competition between those farms, it's no like , all these farms belong to one entity only, and as long as there are multiple pools everything should be fine

spazzdla

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Quote from: johnyj on June 16, 2015, 12:07:55 PM

This is centralization, we need more farms at other places of the world Grin

Or people to actually mine at their house with miners like the "new-rbox"

If we are only going to mine for profit BTC will become centralized zero questions asked.

For the 1000th time, if you think you are a "bitcoiner" and you are not mining you are not a bitcoiner.

cbeast

donator

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Let's talk governance, lipstick, and pigs.

While China still subsidizes electricity, their miners will enjoy greater hashing power and prefer small blocks to maintain the lead. When China stops subsidizing electricity and subsidizes internet instead, their miners will demand larger blocks to maintain the lead. We're playing right into them.

Oscilson

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Quote from: johnyj on June 16, 2015, 12:07:55 PM

This is centralization, we need more farms at other places of the world Grin

If somebody else can build an efficient farm elsewhere.

Bitcoin companies are leaving New York due to the unfriendlyness to bitcoin start-ups.

johnyj

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Beyond Imagination

This is centralization, we need more farms at other places of the world Grin

Oscilson

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I think the block rise will be limited to 8 MB now.

TKeenan

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Quote from: spazzdla on June 16, 2015, 09:44:21 AM

when 50-80% of the hashing power says something.. that is what is going to happen..

You better listen they control the network.

Yep. This pretty much settles it. Those damn Chinese got a lot of momentum these days. They've been selling so much crap to US and Europe for so many years - now US and Europe has all kinds of Christmas decorations and broken tools in their landfills and Chinese got all the American's and European's money. That was pretty clever of them. Well, clever if you don't mind slave labor to benefit the state. Either way you have it, it's Chinese rule now.

spazzdla

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Quote from: AtheistAKASaneBrain on June 16, 2015, 09:30:30 AM

I would rather trust people that are deeply knowledgeable on the Bitcoin code, not sure if people that run mines are qualified enough to make big claims about this, unless they hired people that know what they are doing.

Hummmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm when 50-80% of the hashing power says something.. that is what is going to happen..

You better listen they control the network.

AtheistAKASaneBrain

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I would rather trust people that are deeply knowledgeable on the Bitcoin code, not sure if people that run mines are qualified enough to make big claims about this, unless they hired people that know what they are doing.

Topic: 5 Chinese mining pools propose 8MB block size - page 4. (Read 5465 times)