Do you think BTC SegWit will be activated?

CjMapope

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As of NOW i can finally say i think it WILL be activated

After the roundtable there at consensus we got most of the really big services to finally SIGN to agree to move forward on segwit and have it implemented "within 6 months"
No more big chinese dick swinging! (heh heh) , well atleast till the NEXT BTC drama they make, damn these guys feel the need to stay "relevant" it feels like somtimes ;p

Forward on Segwit means forward on BTC (imo), bring it on! Cheesy

25hashcoin

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Only if Core compromises to 2mb. Otherwise it will only activate ln the failed uasf blockstream chain and bitcoin will get big blocks instead of segwit and be even better than ever.

xiaohang07

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I think so.

deblue

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Yes segwit will be applied because the processes are very slow. They get very late approval so segwit needed

johnwest

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Quote from: oaks05 on April 23, 2017, 03:17:20 PM

im sure litecoin will be a testing block if successful on litecoin than i think it is very possible to happen.

We think it as a testing block but we all know how it went.
No one is sure what will happen after segwit integration to BTC, and the price fluctuation is too much from a week. It needs to be somewhat stable to check.

Seville

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segwit seems to be working well with other coins so why not for BTC Grin

beerlover

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Eventually, I mean we are talking about the sizes and we are not even at $1 transaction fee yet. When the transaction fee becomes so high that people would actually start using other coins instead of bitcoin and bitcoin starts losing its market share, at that point every single miner in the World will mine for segwit.

dinofelis

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I was going to post more "yes, indeed, I think that too !", but I essentially agree fully with all that has been said in this thread.

dinofelis

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Quote from: European Central Bank on April 23, 2017, 07:15:36 AM

i don't think it'll ever happen. bitcoin's too much in the hands of a small number of miners. i also don't believe we'll ever get bigger blocks. the people pushing them so far are too incompetent and childish.

question is what will the market do with a bitcoin that won't change? i don't think it's gonna put up with it forever.

Indeed. It can find its niche. And it has the first mover advantage, but after many years, that will erode away. Between the "first coin" and 8 years around, or a "newcomer, only 3 years old", there's a mountain of a difference. Between "the first coin, now 40 years old", and "50 other coins from about the same decade, 35 years old, and more features", there won't be much of a difference.

dinofelis

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Quote from: alyssa85 on April 23, 2017, 04:47:11 AM

No, is the short answer.

I think Segwit will be activated for Litecoin, and people will be told, why don't you use LTC for segwit related activities. Then it will turn out no-one actually uses it at all, and the whole thing will fall flat.

Loads of little alts now have segwit, eg digibyte and some others, so plenty of segwit around for the afficionados without involving bitcoin!

I'm thinking that too, honestly.

d.kevin29

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Quote from: European Central Bank on April 23, 2017, 03:37:41 PM

Quote from: d.kevin29 on April 23, 2017, 03:30:32 PM

It was released to be unchanged and this could be a huge failure for it.

where in any bitcoin literature is it stated that everything is set in stone? loads of things have been refined since the early days. and it started off with theoretically unlimited block size with a 32mb block size limit implied.

hard to change, sure. but not impossible.

I might have read or understood things the wrong way when I read about BTC a while ago. Anyways, what I mean is it shouldn't be changed because a change could once mean a failure. And Bitcoin is the "Mother" of all the Cryptocurrencies, so its' failure would bring all the Altcoins down together with it.

European Central Bank

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Quote from: d.kevin29 on April 23, 2017, 03:30:32 PM

It was released to be unchanged and this could be a huge failure for it.

where in any bitcoin literature is it stated that everything is set in stone? loads of things have been refined since the early days. and it started off with theoretically unlimited block size with a 32mb block size limit implied.

hard to change, sure. but not impossible.

d.kevin29

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Quote from: oaks05 on April 23, 2017, 03:17:20 PM

im sure litecoin will be a testing block if successful on litecoin than i think it is very possible to happen.

Yeah, but as others pointed out.. it could be a mistake.

Although we get longer confirmation times and unconfirmed transactions, Bitcoin should stay as it has been since it was released. It was released to be unchanged and this could be a huge failure for it. At the same time, we're looking at how difficult it becomes to get a transaction completed. I have to wait hours on polo for a small deposit. Not sure what to say about it - it has pros and cons, but because Segwit could turn into a big failure, Bitcoin should probably stay the way it has been since day 0.

oaks05

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im sure litecoin will be a testing block if successful on litecoin than i think it is very possible to happen.

Chikito

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Quote from: lurker10 on April 23, 2017, 01:15:02 PM

Quote from: maku on April 23, 2017, 01:11:19 PM

Quote from: lurker10 on April 23, 2017, 01:35:05 AM

Hope not. Segwit is too much unknown, it could kill Bitcoin.

How exactly would it kill bitcoin?

Both SegWit and Bitcoin Unlimited has cons and tinkering (and danger of messing up) software worth $20 billion is an awful perspective.
The best solution would be never upgrading core bitcoin protocol, and instead move priority to off-chain channels. Bitcoin is not decentralized anymore anyway.

I fully agree. The best solution is to do nothing. Bitcoin is a safe haven coin for investors, new things should be experimented on other coins.

There is nothing safe in investing, surely an investment has a risk of loss, at least when investing in bitcoin already calculates about the losses to be received. with the current price 1000 $ , consider new bitcoiner about bitcoin including a very expensive investment. but , people who understand Cryptocurrency buy at a price of 1000 $ and break up in some altcoin is reasonable .

lurker10

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Quote from: maku on April 23, 2017, 01:11:19 PM

Quote from: lurker10 on April 23, 2017, 01:35:05 AM

Hope not. Segwit is too much unknown, it could kill Bitcoin.

How exactly would it kill bitcoin?

Both SegWit and Bitcoin Unlimited has cons and tinkering (and danger of messing up) software worth $20 billion is an awful perspective.
The best solution would be never upgrading core bitcoin protocol, and instead move priority to off-chain channels. Bitcoin is not decentralized anymore anyway.

I fully agree. The best solution is to do nothing. Bitcoin is a safe haven coin for investors, new things should be experimented on other coins.

maku

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Quote from: lurker10 on April 23, 2017, 01:35:05 AM

Hope not. Segwit is too much unknown, it could kill Bitcoin.

How exactly would it kill bitcoin?

Both SegWit and Bitcoin Unlimited has cons and tinkering (and danger of messing up) software worth $20 billion is an awful perspective.
The best solution would be never upgrading core bitcoin protocol, and instead move priority to off-chain channels. Bitcoin is not decentralized anymore anyway.

d.kevin29

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It's pretty hard right now, after so many replies, to answer everyone's posts so I'll make an answer for everyone above me.

Thanks for the ideas and opinions - I read things I wouldn't have thought of before. I thought Segwit would be a good change because of bigger block sizes and stuff, but it all depends on the big miners (probably the Chinese). I still got one unanswered question yet: how will we handle 1MB block sizes in a few years if right now it keeps becoming harder and harder for transactions to get confirmed and there keep summing up more and more unconfirmed transactions everyday? Even I, out of 10 transactions, have 2-3 for which I have to wait +12hours which is NOT normal, and I pay +$0.35 in fees per transaction.

I looked Segwit up for a while and read as much as I could. I might have not understood 100% the way it works and why it is implemented so I might have said some wrong things in this post. However, I totally agree to the fact that Bitcoin should remain unchanged forever. What bothers me is how hard it keeps getting to get a simple, small transaction confirmed in a relatively OK period of time..

lurker10

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Quote from: European Central Bank on April 23, 2017, 07:38:29 AM

Quote from: lurker10 on April 23, 2017, 07:32:29 AM

Bigger blocks may be better than no change, no change is better than Segwit.
No change is the safest outcome.

Bitcoin should be a safe haven to store crypto wealth, and no change should be preferred over all the other outcomes.
Bitcoin works great as a crypto reserve and crypto settlement network, it has proven to be safe and should be left alone, except bugfixes.

the question is who's going to be settling on it?

apart from dollar signs, most users were sold on the idea of low fees and quick transactions, even though that was a really stupid way to sell it because it could never last.

most users also ain't clever or interested enough to use the most secure network if it costs them too much. they'll switch to the most convenient one even if it incredibly flawed. and most people here are in it for the quick bucks anyway. very few actually need what bitcoin offers.

The only thing that makes Bitcoin preferred over other cryptocurrencies is stability and safety. Activating Segwit is such a huge change that it will remove this stability and safety - the competing advantage of Bitcoin. If Segwit is activated and Bitcoin loses this stability safe haven status, why not go for coins that are technologically much more superior? Bitcoin with Segwit will offer the same level of safety as these other coins but will be much more backward technologically, so it makes no sense to stay in Bitcoin with Segwit.

European Central Bank

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Quote from: lurker10 on April 23, 2017, 07:32:29 AM

Bigger blocks may be better than no change, no change is better than Segwit.
No change is the safest outcome.

Bitcoin should be a safe haven to store crypto wealth, and no change should be preferred over all the other outcomes.
Bitcoin works great as a crypto reserve and crypto settlement network, it has proven to be safe and should be left alone, except bugfixes.

the question is who's going to be settling on it?

apart from dollar signs, most users were sold on the idea of low fees and quick transactions, even though that was a really stupid way to sell it because it could never last.

most users also ain't clever or interested enough to use the most secure network if it costs them too much. they'll switch to the most convenient one even if it incredibly flawed. and most people here are in it for the quick bucks anyway. very few actually need what bitcoin offers.

Topic: Do you think BTC SegWit will be activated? (Read 1667 times)