I predict a lot of strain on the Bitcoin network soon due to Mastercoin - page 3.

bluemeanie1

sr. member

Activity: 280

Merit: 257

bluemeanie

Quote from: Luke-Jr on November 14, 2013, 02:23:28 AM

Quote from: bluemeanie1 on November 14, 2013, 02:20:22 AM

I predicted this problem with Color Coins long before Mastercoin ever began. Check the BitcoinX list.

Ron, stop acting like this is some kind of new revelation.

This thread isn't about who predicted it first, it's about scalability.

these problems were well understood and clearly stated by myself many months ago.

Im not sure how exactly we pronounced Mastercoin this wonderful new technology while it poses systemic risks to Bitcoin.

In other words, we must now be concerned about the problems Mastercoin is causing, while a small insider group profits from this business. As in, we fix the problems that are caused by someone's profit motives. An analogy: some factory finds a way to make Hummus for 2 cents less than the competitor however it kills entire forests. The factory does it anyway, then pronounces that there is a huge ecological disaster that we all must come together to fix.

Luke-Jr

legendary

Activity: 2576

Merit: 1186

Quote from: bluemeanie1 on November 14, 2013, 02:20:22 AM

I predicted this problem with Color Coins long before Mastercoin ever began. Check the BitcoinX list.

Ron, stop acting like this is some kind of new revelation.

This thread isn't about who predicted it first, it's about scalability.

bluemeanie1

sr. member

Activity: 280

Merit: 257

bluemeanie

I predicted this problem with Color Coins long before Mastercoin ever began. Check the BitcoinX list.

Ron, stop acting like this is some kind of new revelation.

In other words you're creating some new feature on top of Bitcoin, generating a major performance problem, and then suddenly you act as though we have some natural disaster that we all must come together to solve.

It sounds more like you're breaking Bitcoin.

Luke-Jr

legendary

Activity: 2576

Merit: 1186

If 100% of bitcoin users migrated to Mastercoin and used it the same way, would it produce more load on the blockchain, less, or the same?
If more, why?

kjj

legendary

Activity: 1302

Merit: 1026

Bitcoin is usage-agnostic. If there are more transactions, maybe that'll finally be the incentive we've been waiting for to establish the proper fee market.

P.S. Your usage projections are probably ~~nonsense~~ optimistic.

ripper234

legendary

Activity: 1358

Merit: 1003

Ron Gross

I have sent this email to a few devs, Gavin asked that we conduct the discussion publicly and we're happy to oblige.

Quote

Hi all,

I think you guys are unaware of the rate at which we are accelerating. Hell, my own board of directors (of the Mastercoin Foundation) has more conservative estimates than me ...

However I think that Mastercoin is going to blow up in scale much sooner than we originally planned.

There will be a lot of transactions on it very soon. I think that perhaps in 2-3 months we'll put a lot more strain on the network that SatoshiDice.

We should prepare.

FYI, we have a small $100 bounty for anyone who documents a migration plan off Bitcoin to another dedicated chain. However this is just a backup plan and we don't see this as likely. We want to stay on top of Bitcoin and support its development and usage.

I think we should have a talk about this ASAP - it's in the best interest of both our projects.

I know you all are busy people, let us know when and how and we'll adjust our schedules.

FYI I think we can sponsor or co-sponsor some research into the scalability of Bitcoin itself. What are the current research problems that can increase Bitcoin Scalability? How can we support this effort?

Please add more core developers to this discussion.

Note that this thread is moderated, and trolling will be deleted.

Topic: I predict a lot of strain on the Bitcoin network soon due to Mastercoin - page 3. (Read 8705 times)