Kind of hard to belive that five people could not come up with a sensible resolution.
That's so amazing! DEVs seem to be real primadonnas. Grow so balls and act like men....drama queens.
Topic: If bitcoin forks to XT, the price will start declining (Read 3808 times)
That's so amazing! DEVs seem to be real primadonnas. Grow so balls and act like men....drama queens.
Nobody is saying to never raise the block size. Some people just think it does not need to be done now and the increases should be smaller.
Other people want to increase it aggressively/rapidly.
Either one of these options is not as bad as a split and civil war in the community (in my opinion).
Other people want to increase it aggressively/rapidly.
Either one of these options is not as bad as a split and civil war in the community (in my opinion).
Just know its a battle between the largest mining pool who runs these operations.
So basically they want it now since their bandwith sucks. Which doesnt seem to be an option unless you want these mining pools to cut off all their production which would slow down findning blocks..
Thanks for this, it was helpful. It also points to the even more useful Gavin's Blog entry about this.
It would be nice if there was a similar site with the rebuttal.
Overall, I think this makes bitcoin look like an unserious mess. I'm not surprised that the price is dropping, I guess it will continue to until this gets sorted out. Kind of hard to belive that five people could not come up with a sensible resolution.
Thanks guys.
Ok, I am purely a hodler here so be gentle with me......
What is wrong with everyone going over to XT?
My limited understanding is that In years to come 1mb block size won't do if it heads towards mass adoption and transactions increase dramatically.
Why stay at 1mb? What's the good thing about staying at 1mb blocks and staying with core?
Again, I just hold my bitcoins so explain in a simple way please.
What is wrong with everyone going over to XT?
My limited understanding is that In years to come 1mb block size won't do if it heads towards mass adoption and transactions increase dramatically.
Why stay at 1mb? What's the good thing about staying at 1mb blocks and staying with core?
Again, I just hold my bitcoins so explain in a simple way please.
OK, I will try. I am a holder as well. We will need bigger blocks, since we all our counting that Bitcoin will grow and more transactions will take place. So you have people that are completely against the bigger blocks, some major DEVs including. They believe that block size increase should take place only if 100% necessary and when we approach 1MB limit, since we are not there yet. They believe we should look at some other solutions besides block size, again if possible and that block size increase should be only our last resort. Why? They believe that bigger block will centralize Bitcoin since you need more storage, more bandwidth and not everybody in the world have big bandwidths, for example China.
Then you have other people, and they are the majority it seems to me that want bigger blocks but not XT, I am one of them. We want bigger blocks in the Core. We don't want XT because we think this is opening a Pandora's box and if they can bully us with the XT, they will be able to bully us with anything in the future.
Nobody is saying to never raise the block size. Some people just think it does not need to be done now and the increases should be smaller.
Other people want to increase it aggressively/rapidly.
Either one of these options is not as bad as a split and civil war in the community (in my opinion).
Other people want to increase it aggressively/rapidly.
Either one of these options is not as bad as a split and civil war in the community (in my opinion).
I believe the issue is the devs behind XT. If core devs would release a upgrade to 8mb everybody would be on board. But they want to stay as is so they can make money off lightning networks. Or so I heard.
Bigger blocks require better hardware and connectivity, pushing the average Joe away from participating, causing more centralization. This is partly negated by rapidly increasing availability of good hardware and connectivity around the world to the average Joe .
WTF is this?
Did the real Satoshi just speak? It didn't sound like Satoshi Nakamoto. Rather an imposter if you asked me.
Did the real Satoshi just speak? It didn't sound like Satoshi Nakamoto. Rather an imposter if you asked me.
If this is real, which I doubt, I'm sure he has a way to identify himself. Unfortunately, it's very easy to set up an account somewhere with a false name.
Bitcoin already forked once.
Remember what happened to the price?
Remember what happened to the price?
if you're talking about the 2013 fork, nothign really happened, there was a minor dump after the 230 peak, but it started before the fork so it's not sure if it was cause by the fork or what
Yep, lasted about half a day then rose quickly after that.
And that was an unexpected fork. Imagine how easy the transition will be when we can pretty much watch it happen down to the hour.
It's psychology, waiting is terrible. Will there be a fork or not? Not knowing what's going to happen scares investors all over the world.
I do not think there will ever be a "XT fork".
If there is a 75% majority running XT, what would Core devs do? Nothing and let XT fork bitcoin leaving Core fork struggles to find hashrate to mine blocks with high difficulty? I think when there is a clear majority, the minority will have to adopt the protocol of the majority. If XT wins the majority, Core has to change, if Core wins, XT remains a alt client.
If there is a 75% majority running XT, what would Core devs do? Nothing and let XT fork bitcoin leaving Core fork struggles to find hashrate to mine blocks with high difficulty? I think when there is a clear majority, the minority will have to adopt the protocol of the majority. If XT wins the majority, Core has to change, if Core wins, XT remains a alt client.
I believe the issue is the devs behind XT. If core devs would release a upgrade to 8mb everybody would be on board. But they want to stay as is so they can make money off lightning networks. Or so I heard.
Ok, I am purely a hodler here so be gentle with me......
What is wrong with everyone going over to XT?
My limited understanding is that In years to come 1mb block size won't do if it heads towards mass adoption and transactions increase dramatically.
Why stay at 1mb? What's the good thing about staying at 1mb blocks and staying with core?
Again, I just hold my bitcoins so explain in a simple way please.
What is wrong with everyone going over to XT?
My limited understanding is that In years to come 1mb block size won't do if it heads towards mass adoption and transactions increase dramatically.
Why stay at 1mb? What's the good thing about staying at 1mb blocks and staying with core?
Again, I just hold my bitcoins so explain in a simple way please.
Well it's hard not to imagine that all this turmoil doesn't influence the investors and their confidence, so the decline in price is normal, even now. Not to mention if real fork is to happen.
However I hope that the XT fork will never happen. I hope that the bigger blocks will be implemented in the core as soon as possible or at least when the core people see that the fork is inevitable.
Anyways, considering all the options, I wouldn't be surprised if we continue going further down.
However I hope that the XT fork will never happen. I hope that the bigger blocks will be implemented in the core as soon as possible or at least when the core people see that the fork is inevitable.
Anyways, considering all the options, I wouldn't be surprised if we continue going further down.
Be prapared to be attacked by the perma-bulls on here...
I think the same thing, a shake up like this is bound to drop the price, if only temporarily until things are straightened out. Thats just how btc works, anyone whos followed the price for a while knows price can be swund on news stories alone, even 10-15% in any given day. I'm sitting out for now, fairly certain there will be cheaper coins on the way...
Well it's hard not to imagine that all this turmoil doesn't influence the investors and their confidence, so the decline in price is normal, even now. Not to mention if real fork is to happen.
However I hope that the XT fork will never happen. I hope that the bigger blocks will be implemented in the core as soon as possible or at least when the core people see that the fork is inevitable.
Anyways, considering all the options, I wouldn't be surprised if we continue going further down.
However I hope that the XT fork will never happen. I hope that the bigger blocks will be implemented in the core as soon as possible or at least when the core people see that the fork is inevitable.
Anyways, considering all the options, I wouldn't be surprised if we continue going further down.
Bitcoin already forked once.
Remember what happened to the price?
Remember what happened to the price?
if you're talking about the 2013 fork, nothign really happened, there was a minor dump after the 230 peak, but it started before the fork so it's not sure if it was cause by the fork or what
Yep, lasted about half a day then rose quickly after that.
And that was an unexpected fork. Imagine how easy the transition will be when we can pretty much watch it happen down to the hour.
No one was against the last hard fork. This one's gonna be different.
Bitcoin already forked once.
Remember what happened to the price?
Remember what happened to the price?
if you're talking about the 2013 fork, nothign really happened, there was a minor dump after the 230 peak, but it started before the fork so it's not sure if it was cause by the fork or what
Yep, lasted about half a day then rose quickly after that.
And that was an unexpected fork. Imagine how easy the transition will be when we can pretty much watch it happen down to the hour.
There's little chance that the eventual forking will have impact on the price, and i believe that (atleast for a certain period of time) it will be negative one.
The main reason for my concern is the timeframe between the time that XT activates, and >1mb block makes chains different, and the time services and exchanges
find a solution to this issue.
The main reason for my concern is the timeframe between the time that XT activates, and >1mb block makes chains different, and the time services and exchanges
find a solution to this issue.
I know i'd dump on Gavincoin adoption. And i mean take a dump on the market like never before and not buying back in later. I know others would too so i think a meltdown is a safe bet upon Gavincoin adoption which i think is unlikely.
But i am watching the situation closely and i will make sure to dump my coins before xt nodes ever reach 75%. I honestly don't think it'll happen though. I think Gavin and Mike are clowns and epic failures.
Bitcoin already forked once.
Remember what happened to the price?
Remember what happened to the price?
if you're talking about the 2013 fork, nothing really happened, there was a minor dump after the 230 peak, but it started before the fork so it's not sure if it was cause by the fork or what
lol, that impression was done really nice.
So you also watched the interview video, and jet you still agree with Alex Jones's positions. There is where your problem is, you don't arrive at sane conclusions if you remain with that conspiratorial mindset. Seriously stop listening to him, even if you do it for entertainment it isn't good for you. You may have taken the first step but you still believe everything that Alex Jones is about. Look up a conspiracy theory on rationallwiki.org every once in a while and look at the quoted sources. At first it will probably offend you, but once you are looking at the information form a more rationalist perspective you realize that much of the talking points in the conspiracy theory scene are conjecture and projection of a certain mindset, not facts.
[/OT]
So you also watched the interview video, and jet you still agree with Alex Jones's positions. There is where your problem is, you don't arrive at sane conclusions if you remain with that conspiratorial mindset. Seriously stop listening to him, even if you do it for entertainment it isn't good for you. You may have taken the first step but you still believe everything that Alex Jones is about. Look up a conspiracy theory on rationallwiki.org every once in a while and look at the quoted sources. At first it will probably offend you, but once you are looking at the information form a more rationalist perspective you realize that much of the talking points in the conspiracy theory scene are conjecture and projection of a certain mindset, not facts.
[/OT]
So what you are saying is that I cannot arrive to sane conclusions and I have a problem. Yet here I am, master of science in software engineering, bought into bitcoin when it was 4$, passed a psychological test with the highest possible score when obtaining a gun ownership licence. But wait a second, all of it makes perfect sense according to this.
You must understand that Alex Jones is an actor and he's damn good at playing the role of a madman with the twist of actually telling the truth while appearing as crazy. I cannot confirm that all of AJ's statements are backed by solid proof because I haven't personally checked them all, but the ones that I have checked are in alignment with what he says.
The bottom line is, you must do your own neutral research, use common sense and be open minded no matter how crazy the facts might sound. Often times there is no truth and lie opposition but instead a truth and truth opposition which is why general population is unable to come to a consensus.
Bitcoin already forked once.
Remember what happened to the price?
Remember what happened to the price?
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