Topic: Bitcoin was a great experiment. We learnt a lot from it. - page 3. (Read 2072 times)

Bitcoin has some issues but will still be king for the foreseeable future.
This is still the beginning of crypto, however. In ten or twenty years from now another coin may see higher use/ price.
It could be an already existing project, or something that hasn't even been written yet.

Bitcoin is like the invention of the telephone. It may take fifty or a hundred years but eventually we will have mobile smartphones.

people area full of talk and only that. let's see how you can do it shall we.
we all are well aware of the shit that is going on with bitcoin, but with all that happening, bitcoin still is great and is bigger than you can think. we may be unhappy about a bunch of stuff but in the end we are using bitcoin and we can not see anything remotely close to it.

The block size will not change.  Bitcoin will remain what it is.  And no, people will not use bitcoin on the block chain.  But they will use bitcoin IOU by financial institutions.  Bitcoin and its block chain itself will become institution's backings, and no ordinary citizen will use the bitcoin block chain: too expensive, no agreement with miners to get your transaction processed.  Bitcoin will be simply the reserve currency used by financial institutions and other big players, who have agreements with miners.  You will use bitcoin IOU at your bank.  You will get a bank account denominated in bitcoin if you want to.   And a bitcoin credit card.  But you will not use bitcoin as such any more.  Blocks full, fees too high for non-agreed users, transactions filtered.

In the same way that people using dollars used to think that it was actually silver.

And the price of bitcoin will be incredibly high.  But those that you hold in a wallet, will never be transacted.  Unless you sell them to your bank.

If I may add, up to this point in time, bitcoin had battle and survived. Scalability, competition from other cryptocurrencies, governments among others. We all know that one issue that keeps plaguing us is the block size debate. I will not get into details. I just touch base on it because I believe this is critical if bitcoin will be mass adoption and be used globally and survive.

Bitcoin is a great coin, nobody can expect and predict bitcoin can survive until this stage, and I admit there are still flaws in bitcoin, but bitcoin is the pioneer of crypto currency and being used by a lot of people in this world and had helped so many people, we don't need to start over but we can try to fixed it and if you are not satisfied with bitcoin performance there are still so many alt coin ready for you to use

i agree about the blockstream stuff.

the only thing is though.. in your OP you mentioned starting a new genesis block. which is by definition STARTING A NEW altcoin, rather than bilaterally splitting bitcoin to cause an doublespend-altcoin.

new genesis block = start from 0


agree again. EG Gmaxwell moderating the technical section of this forum and the theymos moderating this entire forum and reddit.
gmaxwell and luke Jr moderating the dev mail list and gmaxwell(until recently, but now luke JR) moderating the BIPS
basically acting as gatekeepers to brush away idea's that contradict blockstreams plans.


the 95% is more about reducing the chances of NATURAL orphan drama at an activation event. which can actually be futile a percentage to achieve unless the feature advertised actually did what it says..  and also that percentage may not be needed to be so high, to accomplish just a small natural orphan risk if it also had a high NODE acceptability to help reduce natural orphan risk.

the main thing is what occurs at activation.
blockstream for instance want to then bilaterally split the network by breaking its own 'backward compatibility' promise by INTENTIONALLY (not naturally) rejecting native blocks, which are actually valid to the network but just not created by blockstreams codebase. which is where this action can cause bigger orphan risks and where things get nasty. rather than it would if there was a real proper consensus implemented and just letting natural orphans do their job. (natural orphans happen for a very good reason)

the funny part.
even the segwit advocates dont realise the REALITY of what will occur at the activation date.
they think (wrongly) that the quadratic/malleability problems are 100% fixed.
they dont realise that its not about the activation. its about later things. such as needing EVERYONE to move all of them MILLIONS of unspents (everyone moves thier funds) from native keys to segwit keys(which this action alone would cause major mempool filling spam attacks). to then as long as EVERYONE never uses native keys again ever. will then disarm everyone from quadratic/malleability and only then get the fixes reach their promise,
which is something that will never happen.
malicious spammers will continue using native keys and the disruptions and issues will continue.

We should support bitcoin's side chains (like segwit) to make it great again. We don't have other choice.

Other coins came after bitcoin are all pump&dump/premined scamcoins.

If not, their devs are not as capable as bitcoin devs. (since they are original devs of the blockchain idea)

If those new side chains don't get accepted by the miner communities, then only then, say bye bye to bitcoin.

Yeah you are right we learnt a lot in bitcoin,
I also learn to never believe in some on who are predicting things,
If you are just going to promote some other alt-coin just do it you don't have to be so rude to other person or other team.

https://99bitcoins.com/bitcoinobituaries/
Someone should make a website similar to this, for Bitcointalk threads.

I don't understand, why so many threads lately related to Bitcoin beeing dead, doomed, lost, failed experiment etc. What is happening, why such disappointment?
Nothing is perfect and there are some problems and issues with Bitcoin like with everything else, but let's be honest and admit that Bitcoin is great achievement that made a great impact and that will not disappear just like that.

Op with bitcoin I am fine! We would never have a perfect human system that will not be limit by greed and selfishness. Bitcoin as a pioneer crypto currencies has tried to resolve money market issues and problems to a large extent and I pray it should be accepted as money worldwide one day.

Obviously, while you are busy 'shining' you are not reading.  Dumbfuck.  Check the part where he said starting an alt on top of the established chain is different than starting an alt fresh. 

I guess you're just here to badmouth Bitcoin but I have an advice, you can just start your own Altcoin which would address all these problems you think Bitcoin is having. I'd prefer to shine rather than curse darkness!

An altcoin as you and others suggest has $0 value on day one.  Bitcoin has $20 Billion value.  If my altcoin can be the bitcoin blockchain, history and value, with new improved rules, then OK - I'll start my altcoin.  But, only Core gets to put their altcoin, with new features (SegWit) and rules (Lightning) onto the established $20 billion history and record.  People who are not Blockstream can just go fuck off and start an altcoin.

See, that is why Core/Blockstream people love to say - "OK - so go start your altcoin".  They know that they are building their new rules on a very well established 8 year history and $20 Billion value.  A fresh new alt - no matter how good, would have a hard time catching up to that.

Don't believe me?  Then why doesn't that asshole Holliday just tell Adam Back to go start SegWit/Lightning on his own blockchain?  Why doesn't Core/Blockstream just go fuck right off and start their new alt Lightning on a fresh position?  Thought so.  

Blockstream acts like they own the blockchain and their clever ideas and new rules get to be attached to that history.  Whereas all others can 'go start their own alt'.  This is total bullshit.  

'some real organiszation at the top' means protocol and rules not people.  But, it provides for an improved means of settling an impasse.  Like super majority of voters wins, rather than 95% consensus which we all know could never be achieved thus impasses never get settled and we stall out for over two years.  

That's the right decision to do for all of us and we must unite for the goodness of bitcoin future. No more experiment will be done so that it will elimimate most of the decision mistakes and could save your investments and protect it from possible failures. We must be vigilant enough on most of the accusations and don't easily believe regarding those hopeless rumors from un legitimate people saying negative words for bitcoin.

We no longer need this kind of opinion what we need now is a solution to the problem. An urgent solution to stop users to panic and make mining efficient again. What we need is a consensus and any kind of system does not matter as long as it will give an answer and stop the current problems. Let us stop debating and be united for the sake of bitcoin and for the sake of our investments.

OP can make an altcoin.

also OP if you have any other " We need some real organization at the top." then its still going to be just as bad as blockstream dominance..
any dominance is bad.

also the majority of the community hate blockstream. and if the independent non ass kissing core devs got rid of blockstream out of core. then core (as a separate entity to blockstream) wont get the backlash its getting and earn back some respect

I don't know what you're trying to intend here in your statement. But there's only one thing I know that Bitcoin was created as an open source to any one here in this industry where everybody is welcome to use it, Including yourself.

Up to a point, I agree with you.  There's a section on this bulletin board called "Altcoin discussion".  Pay a visit.

then what are you doing here?!!!

also everything about bitcoin is open source you can use that as your starting point and create whatever you like. whether it is an altcoin with other names and other differences or it is bitcoin from scratch as you suggest!
here is the link: https://github.com/bitcoin/bitcoin

let us see how you handle things. don't forget to update us...