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Topic: Blocksize - December 2015 - page 2. (Read 2785 times)

legendary
Activity: 3430
Merit: 3074
December 06, 2015, 08:40:55 AM
#32
OP is incorrect. There is no "Blocksize meeting", no "next Blocksize meeting", because there was no "previous Blocksize meeting".


There is a Scaling Bitcoin workshop. There is no "Blocksize meeting"

While it's technically a misnomer, many of the scaling solutions under discussion, such as Lightning Network and payment channels, will likely still require a larger blocksize in order to function effectively.

Under what load? Lightning roll-out now would increase the potential tx rate by orders of magnitude. There is no orders of magnitude growth in Bitcoin use right now, so contrary to your assertion, I believe Lightning right now would function effectively. What you mean is probably more like "function effectively with Billions of Bitcoin users", which is plausible.

With an abundance of engineers and developers gathered in one place, it makes sense to have at least some discussion about the blocksize.  Whatever people want to call it, there still has to be some sort of direction agreed upon, otherwise tensions will only increase.

And the direction for the blocksize might get agreed upon as "hodl". Presenting a change in the blocksize as a fait accomplis is as unhelpful as prejudging or precluding any other changes in this debate. There literally is nothing special, no exceptional status at all, to the blocksize as a variable. It's not the magical "tx-o-meter" that the simple minded debaters present it as.
legendary
Activity: 3724
Merit: 3063
Leave no FUD unchallenged
December 06, 2015, 08:20:43 AM
#31
OP is incorrect. There is no "Blocksize meeting", no "next Blocksize meeting", because there was no "previous Blocksize meeting".


There is a Scaling Bitcoin workshop. There is no "Blocksize meeting"

While it's technically a misnomer, many of the scaling solutions under discussion, such as Lightning Network and payment channels, will likely still require a larger blocksize in order to function effectively.  With an abundance of engineers and developers gathered in one place, it makes sense to have at least some discussion about the blocksize.  Whatever people want to call it, there still has to be some sort of direction agreed upon, otherwise tensions will only increase.
legendary
Activity: 3430
Merit: 3074
December 06, 2015, 08:01:28 AM
#30
OP is incorrect. There is no "Blocksize meeting", no "next Blocksize meeting", because there was no "previous Blocksize meeting".


There is a Scaling Bitcoin workshop. There is no "Blocksize meeting"
sr. member
Activity: 314
Merit: 250
December 06, 2015, 07:14:44 AM
#29
We must need to support CORE for the BITCOIN long lasting future. If any changes needed, they must be implement with the Core. If we encourage third party wallets like XT, Bitcoin becomes Altcoin.

The core developers have to be changed as well. These guy should be neutral to all new ideas. They should not have conflict of interest and biased.
sr. member
Activity: 392
Merit: 250
November 28, 2015, 01:53:07 AM
#28
We must need to support CORE for the BITCOIN long lasting future. If any changes needed, they must be implement with the Core. If we encourage third party wallets like XT, Bitcoin becomes Altcoin.

Amen, must be implement with the Core. Down with third party wallet.
full member
Activity: 144
Merit: 100
November 28, 2015, 01:48:42 AM
#27
We must need to support CORE for the BITCOIN long lasting future. If any changes needed, they must be implement with the Core. If we encourage third party wallets like XT, Bitcoin becomes Altcoin.
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
November 26, 2015, 10:24:18 PM
#26
No decision will likely to be made and Core will be forked.

Agreed. This is the last chance for Core to remain the reference client.

There is no point in a 1MB limit anymore because blocks can be reduced to a small fraction of their normal size during propagation.

https://bitcoinmagazine.com/articles/how-the-magic-of-iblts-could-boost-bitcoin-s-decentralization-1448382673
“Ideally, if we can cram this thing [IBLT] into two IP packets,” he said. “We are lightning fast.”

AFAIK they already achieve that using the Relay Network. Could definitely be an improvement to have this baked into the protocol but from where I stand it does nothing to mitigate the externalization of costs to full nodes.
legendary
Activity: 1078
Merit: 1002
100 satoshis -> ISO code
November 26, 2015, 09:56:43 PM
#25
No decision will likely to be made and Core will be forked.

Agreed. This is the last chance for Core to remain the reference client.

There is no point in a 1MB limit anymore because blocks can be reduced to a small fraction of their normal size during propagation.

https://bitcoinmagazine.com/articles/how-the-magic-of-iblts-could-boost-bitcoin-s-decentralization-1448382673
“Ideally, if we can cram this thing [IBLT] into two IP packets,” he said. “We are lightning fast.”
legendary
Activity: 1204
Merit: 1028
November 26, 2015, 02:19:32 PM
#24
Its in december 7 as far as I know, in china. I don't think a clear agreement will be meet. Core devs will stick to improving the protocol and keeping BTC decentralized and XTrojan Andresen and Hearn will keep pushing their big blocks agenda.
legendary
Activity: 2674
Merit: 2965
Terminated.
November 26, 2015, 09:43:21 AM
#23
Yes, but if you increase fees and limit the number of people who can use Bitcoin at all, then Bitcoin will definitively loose its today market share because other altcoins have to be used to fill the gap (no more transactions possible to add once Bitcoin blocks are full everytime) - not something Bitcoin miners want to happen.
It doesn't limit anyone until we are constantly hitting the limit without spam transactions, which we aren't. There is still time to discuss, decide and implement. I guess a bump to 2MB should not be harmful and would be a temporary solution that would enable more time (if consensus can not be reached yet).

Because of all I have read in these forums and other media, most people advocate a raise in block size, so it is very likely that it will come sooner than later. I do not know if it will pop up from that meeting, though.
Correct. Most people agree with raising the limit in one way or another. Anyone telling you otherwise is trying to spread misinformation (however, there is a small group that prefers staying at 1MB). 
sr. member
Activity: 294
Merit: 250
November 26, 2015, 09:32:23 AM
#22
Miners do not want the block size to be too high as they do not have the facilicity to handle too large block size. They might get higher fee from smaller block size when people compete to get included in a block.


Yes, but if you increase fees and limit the number of people who can use Bitcoin at all, then Bitcoin will definitively loose its today market share because other altcoins have to be used to fill the gap (no more transactions possible to add once Bitcoin blocks are full everytime) - not something Bitcoin miners want to happen.
legendary
Activity: 1162
Merit: 1004
November 26, 2015, 08:38:54 AM
#21
I understand the next block size meeting will be soon. Coming up to the meeting and wondering if anything has changed and where things stand as of now? What do people consider will be the likely outcome?

PLEASE TRY TO KEEP THIS THREAD ON TOPIC. I NOTICE ANOTHER THREAD ABOUT GAVIN WHERE TROLLS HAVE TRIED TO DISRUPT THE THREAD BY TALKING ABOUT RACISM OR CLIMATE CHANGE. I HOPE THIS THREAD CAN AVOID THE PAID TROLLS AND PEOPLE WILL STICK TO THE TOPIC

You seem to be a paid troll, since you start this thread with ad hominems. Don't expect a discussion on a higher level when you start a topic that way.

Let's try to keep to the topic please. Your post doesn't add value and is exactly what I was hoping to avoid.

Your topic was about which ones you do believe to be paid trolls. You can't avoid an ad hominem discussion by opening one.
hero member
Activity: 770
Merit: 500
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
November 26, 2015, 08:37:20 AM
#20
Because of all I have read in these forums and other media, most people advocate a raise in block size, so it is very likely that it will come sooner than later. I do not know if it will pop up from that meeting, though.
member
Activity: 84
Merit: 10
★777Coin.com★ Fun BTC Casino!
November 26, 2015, 07:57:25 AM
#19
Maybe what's needed is an arbitrary decision by an independent impartial small group, if nobody seems to want to come to a decision.
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
November 26, 2015, 07:26:54 AM
#19
I'm sure miners won't accept BIP 101 a.k.a XT won't support XT (less than 75%), so maybe core'll be forked.
Personally, i hope BIP 103 or BIP 106 will be accepted &  used in future, it looks better than BIP 101.

Anyhow, decision'll be decided by miners. But, most of them can't or don't want handle big block size, so it'll be difficult.
sr. member
Activity: 314
Merit: 250
November 26, 2015, 07:06:19 AM
#18
There are two parties with conflict of interest. Miners do not want the block size to be too high as they do not have the facilicity to handle too large block size. They might get higher fee from smaller block size when people compete to get included in a block. The paymnet processors want to larger block size so that they can process more transactions.
hero member
Activity: 798
Merit: 1000
Move On !!!!!!
November 26, 2015, 06:29:44 AM
#17
I know that 1MB people have promised to show up with their proposal in the Hong Kong. Now let's see will this really happen!

I know that it would be a great boost for the price and confidence in the whole Bitcoin ecosystem if there is some kind of consensus to be reached!

Solving this problem and putting it behind us would be huge for us at the moment and before the upcoming halving!
sr. member
Activity: 423
Merit: 250
November 26, 2015, 06:18:35 AM
#16
I understand the next block size meeting will be soon. Coming up to the meeting and wondering if anything has changed and where things stand as of now? What do people consider will be the likely outcome?



Most likely not a final decision on new block size limit value but I think most will support slight one-time increase to 2-4 MB and wait whether the new methods to decrease space usage of blockchain like Lighting Network gets implemented and prove to be usefull in scaling Bitcoin before next block increase above 2-4 MB will ever be considered.
legendary
Activity: 3206
Merit: 1069
November 26, 2015, 06:11:48 AM
#15
It is difficult to reach a consensus in the block size as there are parties with different interest and try to gain from the block size setting.

I wish we can reach consensus of 2MB size limit by Feb 2016. We definitely need that size. We can discuss bigger size later.

it seems that after all the fact that bitcoin is decentralized isn't working very well

since miners and merchants are the core of bitcoin, they should be the one with the final decision, as long as we don't remain with 1MB forever i'm fine with every outcome(that only change the limit and nothing else, the xt proposal with the ip crap was horrendous...)
member
Activity: 72
Merit: 10
November 26, 2015, 05:29:46 AM
#14
I understand the next block size meeting will be soon. Coming up to the meeting and wondering if anything has changed and where things stand as of now? What do people consider will be the likely outcome?

PLEASE TRY TO KEEP THIS THREAD ON TOPIC. I NOTICE ANOTHER THREAD ABOUT GAVIN WHERE TROLLS HAVE TRIED TO DISRUPT THE THREAD BY TALKING ABOUT RACISM OR CLIMATE CHANGE. I HOPE THIS THREAD CAN AVOID THE PAID TROLLS AND PEOPLE WILL STICK TO THE TOPIC

You seem to be a paid troll, since you start this thread with ad hominems. Don't expect a discussion on a higher level when you start a topic that way.

Let's try to keep to the topic please. Your post doesn't add value and is exactly what I was hoping to avoid.
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