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Topic: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) - page 114. (Read 378996 times)

hero member
Activity: 546
Merit: 500
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves
Agreed, even if you do disprove of XT, it has still been a catalyst for change. Smiley
both of you seriously needs to see the facts, at the moment some blocks doesn't reach even 500Kb but you both insist of increasing to something even higher? This whole block size thing is starting to early for bitcoin and who knows the real data knows that is just pure speculation started in the wrong time, and with this i hope you both can understand.
I think it would be better to increase the blocksize before we need to, as opposed to doing a hard fork at short notice, which could cause many other problems. If the blocks did become consistently full this would lead to transactions being rendered unreliable and more expensive. This would not be good for Bitcoin and would most likely lead to decreased adoption and damage the public perception of Bitcoin. This is the scenario that I would like to avoid by increasing the block size before this becomes a problem.

Quote from: Andreas Antonopoulos
Gavin is right. The time to increase the block size limit is before transaction processing shows congestion problems. Discuss now, do soon.

Listen, if all the block were between 500-750Kb i could see a real debate about increasing the size of blocks, but here we are talking that there are even blocks that aren't even of 100Kb, and we need to think even about the hard disk spaces because at the moment the max size of hard disk that people can buy is 8Tb, if we increase it without considering both the size of blocks and size of hard disks we are going to put limits to who can actually use bitcoins, you don't think so?
I agree with you that we certainly should consider the difficulty of running a full node but this does need to be balanced with the practical realities, including not limiting the amount of people that can use Bitcoin in favor of more people being able to run full nodes.

With an 8TB hard drive you will be able to store the entire blockchain for a very long time, even with thirty two megabyte blocks. Pruning is on its way as well and hard drive space is not even the primary limitation in regards to this blocksize debate, bandwidth and latency is.

I have studied history, which has taught me that unexpected things can happen in the world. It is possible that we will see a spike in adoption quite possibly due to some global event. I think that this is a real possibility which I think we should be prepared for.
full member
Activity: 182
Merit: 100
★YoBit.Net★ 350+ Coins Exchange & Dice
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves
Agreed, even if you do disprove of XT, it has still been a catalyst for change. Smiley
both of you seriously needs to see the facts, at the moment some blocks doesn't reach even 500Kb but you both insist of increasing to something even higher? This whole block size thing is starting to early for bitcoin and who knows the real data knows that is just pure speculation started in the wrong time, and with this i hope you both can understand.
I think it would be better to increase the blocksize before we need to, as opposed to doing a hard fork at short notice, which could cause many other problems. If the blocks did become consistently full this would lead to transactions being rendered unreliable and more expensive. This would not be good for Bitcoin and would most likely lead to decreased adoption and damage the public perception of Bitcoin. This is the scenario that I would like to avoid by increasing the block size before this becomes a problem.

Quote from: Andreas Antonopoulos
Gavin is right. The time to increase the block size limit is before transaction processing shows congestion problems. Discuss now, do soon.

Listen, if all the block were between 500-750Kb i could see a real debate about increasing the size of blocks, but here we are talking that there are even blocks that aren't even of 100Kb, and we need to think even about the hard disk spaces because at the moment the max size of hard disk that people can buy is 8Tb, if we increase it without considering both the size of blocks and size of hard disks we are going to put limits to who can actually use bitcoins, you don't think so?
hero member
Activity: 546
Merit: 500
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves
Agreed, even if you do disprove of XT, it has still been a catalyst for change. Smiley
both of you seriously needs to see the facts, at the moment some blocks doesn't reach even 500Kb but you both insist of increasing to something even higher? This whole block size thing is starting to early for bitcoin and who knows the real data knows that is just pure speculation started in the wrong time, and with this i hope you both can understand.
I think it would be better to increase the blocksize before we need to, as opposed to doing a hard fork at short notice, which could cause many other problems. If the blocks did become consistently full this would lead to transactions being rendered unreliable and more expensive. This would not be good for Bitcoin and would most likely lead to decreased adoption and damage the public perception of Bitcoin. This is the scenario that I would like to avoid by increasing the block size before this becomes a problem.

Quote from: Andreas Antonopoulos
Gavin is right. The time to increase the block size limit is before transaction processing shows congestion problems. Discuss now, do soon.
full member
Activity: 182
Merit: 100
★YoBit.Net★ 350+ Coins Exchange & Dice
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves
Agreed, even if you do disprove of XT, it has still been a catalyst for change. Smiley

both of you seriously needs to see the facts, at the moment some blocks doesn't reach even 500Kb but you both insist of increasing to something even higher? This whole block size thing is starting to early for bitcoin and who knows the real data knows that is just pure speculation started in the wrong time, and with this i hope you both can understand.
hero member
Activity: 546
Merit: 500
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves
Agreed, even if you do disprove of XT, it has still been a catalyst for change. Smiley
legendary
Activity: 1260
Merit: 1002
What a relentless shill.
hero member
Activity: 546
Merit: 500
Quote
It is not an anecdotal fallacy when used to support the claim that increased adoption has a positive effect in terms of increasing the node count. This does not mean that under all circumstances and under increased adoption the node count will be increased because there are other variables and factors at work. I was arguing against brg444 claim or failure to acknowledge that adoption is a positive factor in terms of increasing the count. Surely you can acknowledge this aspect of the dynamics of the Bitcoin node count.
Once again, your claim might turn out to be true in the spherical cows world, but in the real world, it's quite possible that adoption happens with SPV wallets, which do nothing positive. If you want to consider all factors at play, consider that full nodes are a gain for the network, while SPV ones are a drain.
I do not consider people that use SPV to be a drain on the network, most people in the developing world for instance will not be able to run full nodes, I would not consider their inclusion which is enabled by SPV a drain on the network. More participants and users of Bitcoin increase its value which in turn increases its security.
No one cares about what you consider, SPV nodes are a drain simply because they are using physical resources provided by full nodes without giving back. They consume connection slots, I/O time. The very fact that people use SPV wallets instead of full nodes, even when they have resources, decreases Bitcoin security. By the way, did you turn "SPV nodes are a drain" into "people that use SPV are a drain" on purpose? Because it changes what I said.
SPV is good because it allows more inclusion into Bitcoin for people that would otherwise not be able to participate, most people prefer having Bitcoin on their smartphone anyway, less and less people have desktop computers now, SPV is a great thing, what you are saying does not change this.

Your argument as I understand it is: "My friend has adopted Bitcoin, started running a full node, therefore adoption is positive for the node count". While I see that may be logically correct, I can't see how it's relevant. That friend can be imaginary, I can't verify that.
That is not my argument and it should be obvious to you by now that there is more to it. My example is just that a single example of a greater trend that is reflected not just by my example.
That's funny, because the actual trend is the reverse of what you suggest
What I am suggesting is that increased adoption does lead to more people running full nodes. It is a simple truth, I find it peculiar that you are even trying to argue against this. To be clear just because adoption might lead to more people running full nodes, this does not imply that node count overall will increase since this is dependent upon different factors and variables.

Another strawman I suppose, this time projecting into the future of what I might say under hypothetical circumstances. If the node count does not increase with massive adoption and combined with a moderate blocksize increase then I will be proven wrong, unlike some other people on this thread, I can admit to being wrong sometimes. However that is not the trend I am expecting, time will tell to see whose theories will be proven correct.
You don't give any conditions under which you can be proven wrong, hence my comment. It's not an argument, just a side note that you can apply that logic indefinitely, unless you give some conditions.
If there are no examples at all of people discovering and adopting Bitcoin which leads to them running a full node, if this condition is met or more accurately I suppose if there is no evidence to the contrary then my argument can be proven wrong. It should be obvious however that this is not the case and that increased adoption does lead to more full nodes being run as a result of the increased adoption.
This kind of condition is incompatible with your argument. Read what you wrote: "If the node count does not increase with massive adoption and combined with a moderate blocksize increase then I will be proven wrong". There might be examples of people adopting Bitcoin and running a full node, but the node count might still decrease due to earlier adopters switching SPV and stuff. Instead, you should've given conditions on these vague words: "massive adoption", "moderate blocksize increase", and a timeframe in which to compare node counts.
That was a condition under which I would be proven wrong, that is not my argument however. My argument is that when more people discover Bitcoin there will be more people that will have reasons to run full nodes. I can prove this with just a single example, this does imply that node count will therefore increase because there are different factors and variables involved. I do not understand why you are even trying to argue against this.

It is ridiculous for you to claim that I have an argument from ignorance/silence when I have extensively explained and argued for why we should increase the blocksize. The article I wrote on the subject certainly is evidence of this.
Well, the perceived absence of counter-arguments doesn't make you more or less wrong. You have stated that "...increased adoption would also lead to an increased node count..." which is you own opinion, as usual. This may or may not happen, and is not an argument. The good thing about arguments is that they can stand by themselves, we don't need to convince you of anything.
My arguments do stand by themselves, I have already demonstrated how it is an argument, which is furthermore based on more then just my opinion.
What you have demonstrated is what you expect, which is clearly your opinion, which can be invalidated in the future. "I do expect to see a trend reversal with increased adoption as we are already partially seeing today." -- this may or may not happen.
Agreed this may or may not happen and nobody knows with certainty how this dynamic will play out in the future, all we can have now are theories, and I do not think it is wrong for me to factor in adoption as a positive metric towards node count.

The vast majority of the mining power today exists in this way, therefore increasing the difficulty of running a full node does not effect miners because they do not run full nodes, the pools do instead.
Can't you see that? First, you say "The vast majority of the mining power", and then conclude as if it's "All mining power". Is BitFury a pool or a miner? What about those occasional solo miners?
I have already explained this to you so I do not know why we are going around in circles in regards to this issue. The only "solo" miners are miners like Bitfury, KNC and 21inc. Surely these extremely large industrial miners do not need to be protected for the cause of decentralization since they are the biggest cause of mining centralization after all. To feasible solo mine it would require a mining operation worth tens of millions of dollars in order to make it viable by overcoming the variance. This is why the vast majority of mining power today is directed towards public pools. Not sure about the internal structure of Bitfury but I would not be surprised if it operates more like a private pool actually. P2P pool variance is also to high and a lot of modern ASICS do not work well with P2P pool either. Either way the vast majority of the mining power today is being directed towards pools, this is why increasing the blocksize does not effect mining centralization. Pool centralization is a different issue which I am not overly concerned about as long as mining remains sufficiently distributed.
We are running in circles because you conveniently ignore details when they don't fit your argument. Ignore solo miners ("they are not effected" -- they are effected, they just have enough money to pay for it), ignore p2pool ("variance is too high"). I can't go on like that. I guess I'll break the circle once again.
I am not running in circles, we can ignore solo miners because they are only compromised of extremely large industrial mines, which I do not think should be considered in regards to decentralization since they are the greatest cause of centralization after all.

The variance of p2pool is to high since it represents less then one percent of the network. You try and invest a huge amounts into mining equipment and try and mine with a pool that has less then one percent of the hashpower, you will see that it is not much fun. Furthermore it is either impossible or very difficult to get some of the latest ASICS running on p2pool as well, which for the moment at least makes it a deal breaker in terms of attracting significant amounts of hashpower.

Public mining pools make up for more then seventy percent of the hashpower, large industrial solo miners can afford to run their own full nodes, the price of doing so is insignificant compared to the rest of the costs of running such an operation. I am not ignoring the details because I have explained why solo miners do not need to be considered in regards to mining decentralization.

To be blunt solo mining is dead, unless you consider Bitfury a solo miner which technically it is, however this is very far removed from the old ideal of the solo miner contributing to decentralization, this at least is long gone and should be considered a phenomena of a past era. Pools actually help decentralization, if we did not have pools then we would be practically limited to having no more then a hundred super mines, most likely even less because of variance. Because of pools we can now have thousands, practically speaking an unlimited amount of miners distributed around the world and freely pointing their hash power towards ten to twenty pools. This is much better in terms of decentralization compared to being limited to just these one hundred super mines where the barrier to entry would be extremely high.

The miners most contributing towards decentralization are the small miners pointing their hashpower towards pools like myself. These miners would not be effected by an increase in the blocksize. Furthermore more then seventy percent of the total mining power is presently directed towards public pools, these miners would also not be effected by increasing the blocksize. The large industrial miners which make up the other thirty percent of the hashpower would be effected by an increase in the blocksize however the increase in cost would be negligible for them since they are already running multi million dollar operations. As you can see from my examples, the vast majority of the mining power today would not become more centralized as a direct result of increasing the blocksize. In other words increasing the blocksize does not lead to increased mining centralization.
legendary
Activity: 1260
Merit: 1002
bitcoin is not a democracy.

it's a consensus (defined by a 90-95% global threshold)

else status quo.
Bitcoin is a form of democracy, it has it build right into the algorithm, Bitcoin will reflect the will of the economic majority.

It only requires 51% of the mining power to fork Bitcoin so repeating that it is a consensus only defined by 90-95% is meaningless. You are also ignoring the reality that consensus is often impossible among large groups of people.

They even now don't realise that it is democrcacy. These communists still believe it's communism (idiotism).

Bitcoin is a protocol..

not a democracy or any other morbid political regime, you dumb fuck.



edit: besides, how ironic talking about commies when you constantly spew your nonsense about free-insta-bloating all the system with your socialist diarrea..

legendary
Activity: 1162
Merit: 1004
bitcoin is not a democracy.

it's a consensus (defined by a 90-95% global threshold)

else status quo.
Bitcoin is a form of democracy, it has it build right into the algorithm, Bitcoin will reflect the will of the economic majority.

It only requires 51% of the mining power to fork Bitcoin so repeating that it is a consensus only defined by 90-95% is meaningless. You are also ignoring the reality that consensus is often impossible among large groups of people.

They even now don't realise that it is democrcacy. These communists still believe it's communism (idiotism).
legendary
Activity: 1162
Merit: 1004
Quote
Bitcoin Unlimited: Articles of Confederation

Article 1: A Peer-to-Peer Electronic Cash System for Planet Earth

This is too much, I can't  Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Epic laughs over there.  It's like a Swiss vault filled with comedy gold!

I can't tell if Bitcoin Unlimited is real or just a (Poe-etic) way to troll the XTurds into splitting into even smaller groups of malcontents.

Either way, it is glorious to watch Frap.doc, a former Monopolist Maximalist Supremacist, spec'ing an altcoin.    Grin

Quote
Frap.doc said:
Quote
theZerg said: ↑

    I thought that BU was additionally going to vote for 100 & 101. Is that also out of the baseline?

I still don't get what this was meant to entail?

Is it just an announcement that "we support the concept of 100 and 101" and nothing else in terms of code execution in BU? Or is the addition of bigger blocks to BU somehow dependent on the more restrictive rules of those 2 implementations?

Perhaps the term "flag" is confusing me. This usually means an "option" for an argument in Linux terms.

As an aside, I guarantee you core dev and idiots like brg444 et al are watching this discussion and are are already formulating ways to attack and lie about how harmful BU will be.

These armchair engineers don't even know what they want; their only design requirement is excluding Evil Blockstream!


Core don't know what they want. That's the reason why Core forked and you got competition and choice eventually.
I know the consensus collectivist dreamers hate competition and choice, but it's reality now.
legendary
Activity: 1162
Merit: 1004
Not even BIP100 achieves 75% and they have been stable at around 60% for months already.

Everything is going swimmingly. Hearndresen ostracised, price up, XTards butthurt. 

Small blockers butthurt. A 29 percent minority.
donator
Activity: 980
Merit: 1000
Euphoric teenagers keep coming back where "censorship" happens after their grand stances and announced departures. Who would have thought?

https://archive.is/hZXHP
legendary
Activity: 1386
Merit: 1009
Quote
It is not an anecdotal fallacy when used to support the claim that increased adoption has a positive effect in terms of increasing the node count. This does not mean that under all circumstances and under increased adoption the node count will be increased because there are other variables and factors at work. I was arguing against brg444 claim or failure to acknowledge that adoption is a positive factor in terms of increasing the count. Surely you can acknowledge this aspect of the dynamics of the Bitcoin node count.
Once again, your claim might turn out to be true in the spherical cows world, but in the real world, it's quite possible that adoption happens with SPV wallets, which do nothing positive. If you want to consider all factors at play, consider that full nodes are a gain for the network, while SPV ones are a drain.
I do not consider people that use SPV to be a drain on the network, most people in the developing world for instance will not be able to run full nodes, I would not consider their inclusion which is enabled by SPV a drain on the network. More participants and users of Bitcoin increase its value which in turn increases its security.
No one cares about what you consider, SPV nodes are a drain simply because they are using physical resources provided by full nodes without giving back. They consume connection slots, I/O time. The very fact that people use SPV wallets instead of full nodes, even when they have resources, decreases Bitcoin security. By the way, did you turn "SPV nodes are a drain" into "people that use SPV are a drain" on purpose? Because it changes what I said.

Your argument as I understand it is: "My friend has adopted Bitcoin, started running a full node, therefore adoption is positive for the node count". While I see that may be logically correct, I can't see how it's relevant. That friend can be imaginary, I can't verify that.
That is not my argument and it should be obvious to you by now that there is more to it. My example is just that a single example of a greater trend that is reflected not just by my example.
That's funny, because the actual trend is the reverse of what you suggest Cheesy

Another strawman I suppose, this time projecting into the future of what I might say under hypothetical circumstances. If the node count does not increase with massive adoption and combined with a moderate blocksize increase then I will be proven wrong, unlike some other people on this thread, I can admit to being wrong sometimes. However that is not the trend I am expecting, time will tell to see whose theories will be proven correct.
You don't give any conditions under which you can be proven wrong, hence my comment. It's not an argument, just a side note that you can apply that logic indefinitely, unless you give some conditions.
If there are no examples at all of people discovering and adopting Bitcoin which leads to them running a full node, if this condition is met or more accurately I suppose if there is no evidence to the contrary then my argument can be proven wrong. It should be obvious however that this is not the case and that increased adoption does lead to more full nodes being run as a result of the increased adoption.
This kind of condition is incompatible with your argument. Read what you wrote: "If the node count does not increase with massive adoption and combined with a moderate blocksize increase then I will be proven wrong". There might be examples of people adopting Bitcoin and running a full node, but the node count might still decrease due to earlier adopters switching SPV and stuff. Instead, you should've given conditions on these vague words: "massive adoption", "moderate blocksize increase", and a timeframe in which to compare node counts.

It is ridiculous for you to claim that I have an argument from ignorance/silence when I have extensively explained and argued for why we should increase the blocksize. The article I wrote on the subject certainly is evidence of this.
Well, the perceived absence of counter-arguments doesn't make you more or less wrong. You have stated that "...increased adoption would also lead to an increased node count..." which is you own opinion, as usual. This may or may not happen, and is not an argument. The good thing about arguments is that they can stand by themselves, we don't need to convince you of anything.
My arguments do stand by themselves, I have already demonstrated how it is an argument, which is furthermore based on more then just my opinion.
What you have demonstrated is what you expect, which is clearly your opinion, which can be invalidated in the future. "I do expect to see a trend reversal with increased adoption as we are already partially seeing today." -- this may or may not happen.

The vast majority of the mining power today exists in this way, therefore increasing the difficulty of running a full node does not effect miners because they do not run full nodes, the pools do instead.
Can't you see that? First, you say "The vast majority of the mining power", and then conclude as if it's "All mining power". Is BitFury a pool or a miner? What about those occasional solo miners?
I have already explained this to you so I do not know why we are going around in circles in regards to this issue. The only "solo" miners are miners like Bitfury, KNC and 21inc. Surely these extremely large industrial miners do not need to be protected for the cause of decentralization since they are the biggest cause of mining centralization after all. To feasible solo mine it would require a mining operation worth tens of millions of dollars in order to make it viable by overcoming the variance. This is why the vast majority of mining power today is directed towards public pools. Not sure about the internal structure of Bitfury but I would not be surprised if it operates more like a private pool actually. P2P pool variance is also to high and a lot of modern ASICS do not work well with P2P pool either. Either way the vast majority of the mining power today is being directed towards pools, this is why increasing the blocksize does not effect mining centralization. Pool centralization is a different issue which I am not overly concerned about as long as mining remains sufficiently distributed.
We are running in circles because you conveniently ignore details when they don't fit your argument. Ignore solo miners ("they are not effected" -- they are effected, they just have enough money to pay for it), ignore p2pool ("variance is too high"). I can't go on like that. I guess I'll break the circle once again.
sr. member
Activity: 471
Merit: 250
BTC trader
Yes, you noobs and dreamers fork off already  Roll Eyes

If your so-called "economic majority" agrees with you noobs, they will promptly jump to your alternative and you win. But no, you just cling on with your hijacking attempts and annoy people further with your ramblings.  Angry

VeritasSphere, you are no different from a scientific socialism professor.  Cheesy
legendary
Activity: 1260
Merit: 1002
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves

Ohai fork off? Noob?
newbie
Activity: 56
Merit: 0
Hey. XT did light the fire under people to get something decided. We need bigger blocks, and the Core developers only care about selling themselves to Blockstream.

So give XT the respect it deserves
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
boring

Oh well.. what can I say...

Prepare yourself for more heartbreaks and more disappointment?
hero member
Activity: 546
Merit: 500
bitcoin is not a democracy.

it's a consensus (defined by a 90-95% global threshold)

else status quo.
Bitcoin is form of democracy, it has it build right into the algorithm, Bitcoin will reflect the will of the economic majority.

It only requires 51% of the mining power to fork Bitcoin so repeating that it is a consensus only defined by 90-95% is meaningless. You are ignoring the reality that consensus is often impossible among large groups of people.
A 51% fork is righteously called an attack on the network.

Any change that involves less than a super-majority agreement is to be considered contentious and a subsequent fork is to be considered an altcoin if it results in the existence of two separate networks.

For that reason, Bitcoin is not ruled by the majority and therefore is not a democracy.

Don't confuse consensus and unanimity. No one said changes require 100% support.
Here we go again, back to claiming that the will of the economic majority represents an attack on the network. I do not agree with calling a blockchain fork an altcoin since this is factually incorrect. I suppose however that if Bitcoin did split because of the blocksize debate then you would be in the minority. According to your own logic then the small block version of Bitcoin would then be the altcoin, I do not agree with this but it is an extension of your own logic. The majority of miners now support increasing the blocksize after all, whether you like it or not, this will happen.
51% of the HASHING POWER is NOT the economic majority. God damn you fail so hard.
I never claimed that it was.

The miners don't decide what chain is valid, the nodes & the investors (the real economic majority) do.
Funny how you are now completely neglecting the miners as part of the economic majority, they most certainly are an important part of the economic majority.

The current standstill is not my favored outcome but the one of the economic majority as it currently exists. Until every actor in the ecosystem come to consensus on how to move forward then status quo will prevail.
It seems like you are not seeing the writing on the wall, the economic majority now favors increasing the blocksize. This is why the majority of the miners are now voting to increase the blocksize and most of the important companies and individuals have expressed their support for an increase as well.

https://bitco.in/forum/threads/who-is-for-and-against-expanding-the-block-size-reasonably-soon.119/

You addressed my argument that a 51% hashing power fork was an attack on the network by saying that I claim " the will of the economic majority represents an attack on the network."

I would presume this mean you consider 51% of the hashing power to represent somehow the "economic majority". If you don't then may I suggest you explain yourself in a more intelligible way because this is not the first occurrence of you denying claims you've previously made and at this point we can only assume you are anything but honest in your arguments.
Miners would not fork the network without the support of the economic majority, since they are incentivized to do what is good for Bitcoin. Unless there is a true 50/50 type split which would have to be due to fundamental ideological disagreements. Even in this scenario which I think is unlikely and most likely not the case with this blocksize debate, this is still justified because it would be the best way to resolve disagreements without tyranny of the majority. I found this aspect of Bitcoins design rather appealing actually.

The miners are certainly part of the economic majority but they are second level actors in that regard. They enforce the rules agreed on by the network peers & the holders. Don't even pretend you have the ability to debate this. It is not up for debate. It is how Bitcoin operates.
It is not up for debate? The miners can fork the network and create the longest chain. Individuals as nodes/peers can freely choose what side of the fork to support even if it means ignoring the longest chain in this case, which would lead to the shorter chain to become more valuable and eventually therefore gain more hashing power becoming the more dominant chain again. Checks and balances you could say and divisions of power.

The miners however are incentivized to support the economic majority because that is where the value lies and how the incentives are aligned. However it is the miners that initiate or trigger this process by "voting" with their hashing power. This is why BIP101 is triggered by the miners and BIP100 should be as well. Proof of work is perfectly suited to this role within Bitcoin, as it has always intended to be.

If the economic majority supported a block increase it would've happened already. What is so hard to understand about this?
This is not the case because it takes time for all of the parties involved to speak to each other and reach consensus. The miners also need time because they need to be very sure that they are doing the right thing and whether the economic majority is truly on their side which is not always easy to determine. Furthermore the BIP101 fork can not be triggered before January and BIP100 has not been implemented yet.

Nodes are not buying it. A majority of Bitcoin developers are not either. An important number of high-net worth individuals (yes in BTC) are vehemently opposed. Clearly the economic majority is opposed to any change until a better proposition comes along. Any time you attempt to argue the opposite you just look stupid.
Evidence points towards the contrary with the mining majority wanting to increase the blocksize and the number of important companies and influential people that support increasing the blocksize.

https://bitco.in/forum/threads/who-is-for-and-against-expanding-the-block-size-reasonably-soon.119/

It's time you get a grip with reality and stop supporting such a helpless cause. I have nothing against you supporting larger blocks but by now you should understand that it is in the best interest of your ideology to shift your focus to better, more productive alternatives.
I support bigger blocks and the only implementation that increases the blocksize is BIP101, so I support BIP101 until BIP100 is implemented, which I favor or until something better comes along. I do not see how this is not productive if my goal is to increase the throughput of the Bitcoin blockchain directly. Supporting these implementations certainly is productive towards increasing the throughput of the Bitcoin blockchain directly while maintaining decentralization and financial freedom.
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
bitcoin is not a democracy.

it's a consensus (defined by a 90-95% global threshold)

else status quo.
Bitcoin is form of democracy, it has it build right into the algorithm, Bitcoin will reflect the will of the economic majority.

It only requires 51% of the mining power to fork Bitcoin so repeating that it is a consensus only defined by 90-95% is meaningless. You are ignoring the reality that consensus is often impossible among large groups of people.
A 51% fork is righteously called an attack on the network.

Any change that involves less than a super-majority agreement is to be considered contentious and a subsequent fork is to be considered an altcoin if it results in the existence of two separate networks.

For that reason, Bitcoin is not ruled by the majority and therefore is not a democracy.

Don't confuse consensus and unanimity. No one said changes require 100% support.
Here we go again, back to claiming that the will of the economic majority represents an attack on the network. I do not agree with calling a blockchain fork an altcoin since this is factually incorrect. I suppose however that if Bitcoin did split because of the blocksize debate then you would be in the minority. According to your own logic then the small block version of Bitcoin would then be the altcoin, I do not agree with this but it is an extension of your own logic. The majority of miners now support increasing the blocksize after all, whether you like it or not, this will happen.
51% of the HASHING POWER is NOT the economic majority. God damn you fail so hard.
I never claimed that it was.

The miners don't decide what chain is valid, the nodes & the investors (the real economic majority) do.
Funny how you are now completely neglecting the miners as part of the economic majority, they most certainly are an important part of the economic majority.

The current standstill is not my favored outcome but the one of the economic majority as it currently exists. Until every actor in the ecosystem come to consensus on how to move forward then status quo will prevail.
It seems like you are not seeing the writing on the wall, the economic majority now favors increasing the blocksize. This is why the majority of the miners are now voting to increase the blocksize and most of the important companies and individuals have expressed their support for an increase as well.

https://bitco.in/forum/threads/who-is-for-and-against-expanding-the-block-size-reasonably-soon.119/


You addressed my argument that a 51% hashing power fork was an attack on the network by saying that I claim " the will of the economic majority represents an attack on the network."

I would presume this mean you consider 51% of the hashing power to represent somehow the "economic majority". If you don't then may I suggest you explain yourself in a more intelligible way because this is not the first occurrence of you denying claims you've previously made and at this point we can only assume you are anything but honest in your arguments.

The miners are certainly part of the economic majority but they are second level actors in that regard. They enforce the rules agreed on by the network peers & the holders. Don't even pretend you have the ability to debate this. It is not up for debate.  It is how Bitcoin operates.

If the economic majority supported a block increase it would've happened already. What is so hard to understand about this?

I don't care that you single out the miners "vote" as somehow significant since the evidence working against BIP101 & BIP100 are overwhelming.

Nodes are not buying it. A majority of Bitcoin developers are not either. An important number of high-net worth individuals (yes in BTC) are vehemently opposed. Clearly the economic majority is opposed to any change until a better proposition comes along. Any time you attempt to argue the opposite you just look stupid.

It's time you get a grip with reality and stop supporting such a helpless cause. I have nothing against you supporting larger blocks but by now you should understand that it is in the best interest of your ideology to shift your focus to better, more productive alternatives.
hero member
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bitcoin is not a democracy.

it's a consensus (defined by a 90-95% global threshold)

else status quo.
Bitcoin is form of democracy, it has it build right into the algorithm, Bitcoin will reflect the will of the economic majority.

It only requires 51% of the mining power to fork Bitcoin so repeating that it is a consensus only defined by 90-95% is meaningless. You are ignoring the reality that consensus is often impossible among large groups of people.
A 51% fork is righteously called an attack on the network.

Any change that involves less than a super-majority agreement is to be considered contentious and a subsequent fork is to be considered an altcoin if it results in the existence of two separate networks.

For that reason, Bitcoin is not ruled by the majority and therefore is not a democracy.

Don't confuse consensus and unanimity. No one said changes require 100% support.
Here we go again, back to claiming that the will of the economic majority represents an attack on the network. I do not agree with calling a blockchain fork an altcoin since this is factually incorrect. I suppose however that if Bitcoin did split because of the blocksize debate then you would be in the minority. According to your own logic then the small block version of Bitcoin would then be the altcoin, I do not agree with this but it is an extension of your own logic. The majority of miners now support increasing the blocksize after all, whether you like it or not, this will happen.
51% of the HASHING POWER is NOT the economic majority. God damn you fail so hard.
I never claimed that it was.

The miners don't decide what chain is valid, the nodes & the investors (the real economic majority) do.
Funny how you are now completely neglecting the miners as part of the economic majority, they most certainly are an important part of the economic majority.

The current standstill is not my favored outcome but the one of the economic majority as it currently exists. Until every actor in the ecosystem come to consensus on how to move forward then status quo will prevail.
It seems like you are not seeing the writing on the wall, the economic majority now favors increasing the blocksize. This is why the majority of the miners are now voting to increase the blocksize and most of the important companies and individuals have expressed their support for an increased blocksize as well.

https://bitco.in/forum/threads/who-is-for-and-against-expanding-the-block-size-reasonably-soon.119/
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