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Topic: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) - page 120. (Read 378996 times)

hero member
Activity: 546
Merit: 500
Thanks. So XT is dead and so is BIP101. What are we going to do then, increase to what size?

Not really important which implementations will be ready next year and which not. The miners will run the implemention(s) that are ready.
Yeah agreed, I am happy that BIP100 has gained so much support, it will be the miners that will always stay true to Bitcoin because of the incentive mechanism. Which is why the more I have been thinking about it, the more I favor BIP100. The thirty two megabyte limit can at least serve as a compromise for the small blockists. I am even accepting the concept that we will have to go through this struggle again when the limit needs to increased again in the future, at least at that point with 32x times the transaction volume we will be dealing with a more diverse group of people.
legendary
Activity: 1092
Merit: 1001
Touchdown
Surely we'll see a resolution in HK in a few weeks' time (second scaling Bitcoin conf). No one wants this stalemate/impotence to continue.
legendary
Activity: 1162
Merit: 1004
Thanks. So XT is dead and so is BIP101. What are we going to do then, increase to what size?

Not really important which implementations will be ready next year and which not. The miners will run the implemention(s) that are ready.
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
Wally, wally, wally, walls of text. Who the fuck is ever going to read all these walls? Even instructables aren't walls of text and they teach you how to build something.

Someone break it down for me. Has this issue been resolved yet? This thread is becoming too big a fleshlight for me to read.
This depends on who you ask, this is why there are walls of text, because there is disagreement. I want the blocksize to be increased, I think the blocksize will be increased because the incentives will align to allow this to happen.

You think too much without ever making any valid arguments to support your position.

The wall of text is because you are too dense to make cogent presentation of your position and get lost in political tirades & your frankly worthless "opinion".

Quote
I think the blocksize will be increased because the incentives will align to allow this to happen.

This pretty much sums up how empty your argumentation is.  
hero member
Activity: 546
Merit: 500
Wally, wally, wally, walls of text. Who the fuck is ever going to read all these walls? Even instructables aren't walls of text and they teach you how to build something.

Someone break it down for me. Has this issue been resolved yet? This thread is becoming too big a fleshlight for me to read.
This depends on who you ask, this is why there are walls of text, because there is disagreement. I want the blocksize to be increased, I think the blocksize will be increased because the incentives will align to allow this to happen.
legendary
Activity: 1260
Merit: 1002

Hard-Core Bitcoin. FTW!

hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
Thanks. So XT is dead and so is BIP101. What are we going to do then, increase to what size?

It's likely Core devs come out with a revised version of Peter Wuille's proposal (https://gist.github.com/sipa/c65665fc360ca7a176a6) to throw a bone to the redditards.

Quote
The growth rate of 17.7% growth per year is consistent with the average growth rate of bandwidth the last years, which seems to be the bottleneck. If over time, this growth factor is beyond what the actual technology offers, the intention should be to soft fork a tighter limit.

I'm guessing the rate might be adjusted based on Rusty Russel's most recent numbers that referenced a 30% YOY growth according to CISCO's numbers. This proposal is also not expected to be permanent and likely to be limited to 3-4 years after which it could be reviewed.

Then again there's no guarantees the market will go along with it seeing as there's no pressing need to increase as it stands and it is certainly desirable to observe the effect constantly full blocks will have on the fee market.
donator
Activity: 980
Merit: 1000
Cheers mate.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Thanks. So XT is dead and so is BIP101. What are we going to do then, increase to what size?

No cap increases planned yet.

Actual block size not increasing at all despite average fees being substantially under cost at under 0.00001 BTC/KB average.



Great, that's what I needed. Thanks again.
donator
Activity: 980
Merit: 1000
Thanks. So XT is dead and so is BIP101. What are we going to do then, increase to what size?

No cap increases planned yet.

Actual block size not increasing at all despite average fees being substantially under cost at under 0.00001 BTC/KB average.

legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Thanks. So XT is dead and so is BIP101. What are we going to do then, increase to what size?
donator
Activity: 980
Merit: 1000
Wally, wally, wally, walls of text. Who the fuck is ever going to read all these walls? Even instructables aren't walls of text and they teach you how to build something.

Someone break it down for me. Has this issue been resolved yet? This thread is becoming too big a fleshlight for me to read.

legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Wally, wally, wally, walls of text. Who the fuck is ever going to read all these walls? Even instructables aren't walls of text and they teach you how to build something.

Someone break it down for me. Has this issue been resolved yet? This thread is becoming too big a fleshlight for me to read.
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
I'm doxing

A anonymous stasi man exposing himself over and over again.

Aren't you busy contributing to Bitcoin Unlimited?
legendary
Activity: 1162
Merit: 1004
I'm doxing

A anonymous stasi man exposing himself over and over again.
donator
Activity: 980
Merit: 1000
I say, every man and his dog should at least be allowed to 1000 tx/day to persist in the main blockchain forever. Bring on these 2 Petabyte blocks!! right now too, why wait until January or until 20 years down the line.

Yes, because it's not like anyone is pushing for a sensible middle ground or anything.   Roll Eyes

Stop with the "everyone else wants a bajillionty gigabytes" troll replies.  The risk of centralisation is bad, but so is hitting an immobile wall.  Too large is a bad option, but too small isn't much better.  It's not black and white, so don't keep painting it as such.

The point is that if you are completely ignoring limits and benchmarks, and setting yourself arbitrarily high goals of what persists in the blockchain forever as raw transactions, following that argument what stops you at 8MB blocks or 100MB blocks?

It's not a troll reply, it's simply an argument that if you are just arbitrarily dropping numbers ignoring everything other than made up goals and capacity, then it makes no sense to put any limit whatsoever. And actually many XT proponents are saying exactly this:

https://www.reddit.com/r/bitcoin_unlimited/comments/3jly8t/introducing_bitcoin_unlimited/

Quote
In practice Bitcoin unlimited is Bitcoin XT with BIP101 removed and the Blocksize chain limit completely removed.
Todo list:
1) Create subreddit (Done)
2) Create fork of XT (Done)
3) Change branding of XT fork (Done)
4) Remove BIP101
5) Set limit to infinity.
6) Implement smart orphan limit
7) Compile/release
Cool Profit

The idea is to let orphan levels set the limit and let miners fight it in a battle of attrition as if that would be a functioning market. The usual suspects support this including Peter_tRoll (Peter R Rizun), cypherdoc2 (fraudster Marc A Lowe), etc.
legendary
Activity: 3948
Merit: 3191
Leave no FUD unchallenged
I say, every man and his dog should at least be allowed to 1000 tx/day to persist in the main blockchain forever. Bring on these 2 Petabyte blocks!! right now too, why wait until January or until 20 years down the line.

Yes, because it's not like anyone is pushing for a sensible middle ground or anything.   Roll Eyes

Stop with the "everyone else wants a bajillionty gigabytes" troll replies.  The risk of centralisation is bad, but so is hitting an immobile wall.  Too large is a bad option, but too small isn't much better.  It's not black and white, so don't keep painting it as such.
legendary
Activity: 1162
Merit: 1004


Jeff Garzik:

Simple math shows bitcoin block size must increase for full Lightning/side chain roll out & adoption

Sorry, we're not going to trade our existing precious decentralization for some fantasy of "full" adoption.


LOL. Blockthestream inc. and decentralization.
Orwell everywhere.
donator
Activity: 980
Merit: 1000
Wow they only want to support 2 tx/day for 1% of the world population, the fuckers  Angry

I say, every man and his dog should at least be allowed to 1000 tx/day to persist in the main blockchain forever. Bring on these 2 Petabyte blocks!! right now too, why wait until January or until 20 years down the line.

I tell you, these people hate the poor unbanked African bushmen. If you are just setting your goals arbitrarily and forgetting about technology limitations and decentralisation considerations, why stop there? Haters is what they are.
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