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Topic: Coinbase CEO disagree with "The Bitcoin Roundtable Consensus Proposal" - page 5. (Read 3800 times)

legendary
Activity: 3416
Merit: 4658
the whole 2mb block size debate has been going on from summer 2015 and core want to make people wait until summer 2017..
Actually December 2015.
actually before that. but it was only in december that it got turned and twisted into a core vs competitor political debate.

People have been discussing and debating increasing the block size ever since the 1 MB limit was first put into place.  This is a discussion that has been going on since October 2010.

https://bitcointalksearch.org/topic/patch-increase-block-size-limit-1347

Everyone seems to think that the discussion started when they first heard about it. Nobody ever seems to think the discussion might have started before that.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
everyone that disagrees with coinbase wanting to back peddle and continue the blocksizebitchfest while bitcoin bleeds out, needs to withdraw there bitcoins from coinbase to cold storage.
hero member
Activity: 850
Merit: 1000
Is he still pushing for the blacklisting of IP addresses? If so, then forget it.

Also, I don't like how they block/reject some Bitcoins based upon how the Bitcoins have been used. This destroys the fungibility property of Bitcoin (some Bitcoins are worth less than other Bitcoins). I like a lot of what Coinbase does but these two issues are a big problem for me.

https://bitcointalksearch.org/topic/gamblers-be-careful-with-coinbase-747596
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
When it comes down to it does anybody really give a shit what he thinks?

Well, he is the CEO of the most valuable bitcoin company, with more than 2 million users, if someone knows what bitcoin companies need to grow it's him, so I guess his opinion should be taken into consideration.

He can't be trusted. Coinbase is everything bitcoin wasn't intended to be. See these quotes -

Wow Brian Armstrong is such a jerk!

To me it's looking like he's telling everyone to not agree with consensus simply because he feels it doesn't meet his requirements.
Coinbase is a bank!Let's face it!
And imo Core's roadmap is threatening his business model. That guy is against Lightning Network and especially against confidential transactions as this could hinder Coinbase's ability to track bitcoin uses and therefore to comply to AML regulations.
Coinbase has never been on the same side of Bitcoin nor decentralization as the majority. I've always suspected this, but the strong push from Armstrong towards another implementation just suggests that he is unable to push his own agenda. Even his CTO signed various statements supporting Core roadmaps and whatnot. He does not have adequate knowledge to be able to state that, Segwit as the first solution, would be a mistake (what would he base his opinion on, bias?). He's still trying to push forward the joke that does not even have a proper team of developers. However, this post might cause something similar to this:



Does this mean all of the major mining pools are in favor of this?
Yes, over 80% of the hashrate.

What is a "female idea"? Why not ask for "ideas" based on race, hair color, age bracket and sexual orientation while you're at it? Ideas stand on their own merits, not the identity of the person proposing them.
Nonsense. It has been proven that the performance of work groups is increased when there is diversity (the more women -> better). That's what the person meant (I hope).


legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
https://medium.com/@barmstrong/the-bitcoin-roundtable-consensus-proposal-too-little-too-late-e694f13f40b#.ys0fqjis1

What do you think guys ? I personally agree with him about the second point "2. July 2017 is too far away to raise the block size"

i don't think this is a valid objection,

segwit will effectively double block size ( or 1.5X ? wtv,  huge increase none the less )  and this should give much breathing room until July 2017. Do they expect TX volume to go up overnight? I expect it'll take ~a year to start filling these new blocks to the max again at which point the HF increase will be rolled out.

a year goes by fast...
legendary
Activity: 1806
Merit: 1521
For people who think summer 2017 is unreasonable: what exactly do you think is going to happen if we don't get an increase sooner, and what proof do you have?

more bottlenecking, higher fee's. lots more complaints of people waiting upto an hour. word of mouth gets out that bitcoin is losing all of the aspects that made it special. (virtually free transactions, no corporate control, fast transactions)

Higher fees = how much? Prohibitively high? If so, how do you know?

Since when were bitcoin transactions supposed to be free? It may have been so when no one was using it, but could you point me to where Satoshi said in the whitepaper anything about transactions being free or "virtually free?"

Transactions are still instant. They will still be instant. How quickly you want it to confirm is up to the sender and the market. Which leads me back to my first question: will fees be prohibitively high? How do you know? How do you know that people won't batch micropayments, send less transactions that inefficiently use block space? In the future, of course, there will be LN for such things.
legendary
Activity: 4214
Merit: 4458
For people who think summer 2017 is unreasonable: what exactly do you think is going to happen if we don't get an increase sooner, and what proof do you have?

more bottlenecking, higher fee's. lots more complaints of people waiting upto an hour. word of mouth gets out that bitcoin is losing all of the aspects that made it special. (virtually free transactions, no corporate control, fast transactions)

with the FIAT economy pushing forward with faster payment methods and allowing virtually free transfers between parties.. bitcoin is losing its utility.
the real funny thing is that 2mb could have even as far back as last year been implemented into any persons client.. but core lovers argued that 2mb was bad and would kill bitcoin. lots of doomsday scenarios and propoganda.. but as soon as core said they would do it.. suddenly no doomsday scenario..

but core is delaying it still. and that makes the so called decentralized community appear to be fully reliant on blockstream.. much like most fiat users are reliant on Visa
legendary
Activity: 1666
Merit: 1196
STOP SNITCHIN'
For people who think summer 2017 is unreasonable: what exactly do you think is going to happen if we don't get an increase sooner, and what proof do you have?

i heard a giant asteroid called mainstream adoption will hit planet bitcoin and if we don't raise the block size limit soon it will destroy us all.

see: mike hearn's blog
hero member
Activity: 697
Merit: 520
For people who think summer 2017 is unreasonable: what exactly do you think is going to happen if we don't get an increase sooner, and what proof do you have?
legendary
Activity: 4214
Merit: 4458
the whole 2mb block size debate has been going on from summer 2015 and core want to make people wait until summer 2017..

Actually December 2015.

actually before that. but it was only in december that it got turned and twisted into a core vs competitor political debate.
(hint: google has the answer, "2mb bitcointalk" search february 2015 -september 2015 and below is just some examples)

bip, 23rd june 2015 https://github.com/bitcoin/bips/blob/master/bip-0102.mediawiki

random chatter july 2015: https://bitcointalksearch.org/topic/201507212mb-1129477
random chatter August 2015: https://bitcointalksearch.org/topic/can-someone-explain-the-meaning-behind-the-bips-1161263
legendary
Activity: 2786
Merit: 1031
When it comes down to it does anybody really give a shit what he thinks?

Well, he is the CEO of the most valuable bitcoin company, with more than 2 million users, if someone knows what bitcoin companies need to grow it's him, so I guess his opinion should be taken into consideration.
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
When it comes down to it does anybody really give a shit what he thinks?
legendary
Activity: 2674
Merit: 2965
Terminated.
I thought block increase was summer 2016...

We are fucked!

No major adoption for another 1.5 years, that's like an eternity in Internet time!
Segwit gives you almost the same amount of increase in transaction capacity as a 2 MB block size limit. What are you complaining about?
legendary
Activity: 2786
Merit: 1031
I thought block increase was summer 2016...

We are fucked!

No major adoption for another 1.5 years, that's like an eternity in Internet time!
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
Coinbase CEO is a mental midget
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
the whole 2mb block size debate has been going on from summer 2015 and core want to make people wait until summer 2017..

Actually December 2015.
legendary
Activity: 4214
Merit: 4458
If I were him I'd be trying to be more constructive and collaborative. I do think nearly a year and a half away is too long for more capacity.
You should see capacity increases as soon as Segwit is deployed. Deployment depends on the miners and should happen anytime after April. I have no idea why you would think that there is going to be no increase for a year and a half.

lol capacity increases as soon as segwit is deployed.. and then a couple months later reduced as new features get added to the mix to add more data back into it.

lauda.. try reading some code and understanding it better.. maybe reading a C++ book will help you get started. and no dont go for a java book or you will just be wasting your time.

the whole 2mb block size debate has been going on from summer 2015 and core want to make people wait until summer 2017..

thats like having a 65yearold(bitcoin 6.5 years old summer 2015) man ask for viagra, dr's argue with him about possible health implications and only giving in and handing him a prescription when he is 85(bitcoin 8.5 years old summer 2017) because they finally realise that its a health benefit and the risks are negligable

how about put the code in the april release with the consensus rules. that way those upgrading in april dont need to upgrade again in july 2016 and then dont need to upgrade again the year after.. then everyone after april can be happy that the april release has the settings ready. avoiding constant upgrades

if the argument is about the time it takes to get everyone to upgrade. then get the code in sooner so people dont need to constantly upgrade which in itself is adding to the delay.

why oh why does the code need to be added in july 2016 and not april?
legendary
Activity: 2674
Merit: 2965
Terminated.
If I were him I'd be trying to be more constructive and collaborative. I do think nearly a year and a half away is too long for more capacity.
You should see capacity increases as soon as Segwit is deployed. Deployment depends on the miners and should happen anytime after April. I have no idea why you would think that there is going to be no increase for a year and a half.
legendary
Activity: 1288
Merit: 1087
If I were him I'd be trying to be more constructive and collaborative. I do think nearly a year and a half away is too long for more capacity.
legendary
Activity: 2674
Merit: 2965
Terminated.
Why are you even reading his nonsense? He will get to you. He's just mad that he can't push his own agenda (e.g. more control/oversight of the development). Keep in mind that his very own CTO signed the Core roadmap, yet Brian insists on controversial HF's.

This gives a breathing space whilst a solution to the current delays caused by the 10 minute block interval can be debated.
That won't be changed. This is also not the cause of any problems actually.

No matter what happens there will always be people pushing their agendas even tho consensus is meet.
r/btc is going up in flames right now, everyone is being attacked. Roll Eyes
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