Hi All,
Thank you for this release ! It seems to be a well done update.
Now I have a few questions and fears concerning segwit, segwit2x, btc cash and btcg.
Which is closer to the vision
https://www.bitcoincash.org/bitcoin.pdf Those 2 articles guide my reflection:
https://medium.com/blockchain-law/the-segwit-forks-an-exit-voice-account-b5cf01cbee97https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223aFirst of all I see that none of the 3 solutions addresses mining gear concentrations and or utility. For example I saw bitmain raises its prices for the S9 brutally. I don't see much competition to bitmain. The A9 aren't bad it is just that the S9 are still better.
However it is the way of mining pow.
Here what I like, and don't about each solutions.
1. Segwit
+ compatibility with old wallet. I think that satoshi must be able at all time to use his wallet. I understand that his coins are still on all chains.
- breach the on chain system, the fees and all ways to estimates income from miners.
- I fear that segwit txs will take over the blocks and or that txs can be blocked from segwit. I know those 2 comments are uninformed but I think that the more segwit scale, the more it will have a larger imbedded fee, which will raise the fee for the on chain users. Is it wrong? Then I fear that segwit may be able to ban certain txs. is it true?
2. Segwit 2x.
basically segwit + a fork. So why even do segwit and not move to bcash? furthermore how could I agree with an agreement from NY were I wasn't even informed or part of it. Nothing. It was totally centralized as a decision.
3. btcash I like the idea of on chain scaling. I think it is the cleanest way forward. However it doesn't change the hardware mining cartel. best fabs, best layout, best everything is very capital intensive. Hardware isn't really open sourceable, yet. Then more practically looking at the wallet options, it is way less clear than with core. At least with core I know one main wallet that works, is continually improved and safe. Here I have no idea which one to download, not even a torrent...
4. Again just moving from bitmain to nvidia isn't a solution. Nvidia anti mining actual attitude and eventually will be tempted by the same moves as bitmain.
Thank you all for reading my little reflection, and I hope that you will be able to help me see clearer between all the options. I love the fact that I can chose what ever I want in the end.