Topic: If you could hard fork Bitcoin right now, what changes would you make? (Read 503 times)
August 30, 2020, 07:12:37 PM
I'll make an implementation of an standalone blockchain network just like in Polkadot, where you can make your own Blockchain by hosting it. That connects into a mainnet. So basically its like the Ethereum network rinkeby, ropsten network concept. But corporations or individual could create it themselves add liquidity to it. Just think of it as an offchain like Lightning Network but with more user friendly interface.
August 30, 2020, 06:06:01 PM
Bitcoin is beautiful the way it is, except for one thing, speed. This is perhaps the single most significant drawback.
Of course, there are others, for example, a protocol that forces you to use huge computing power, but this does not spoil life as much as the speed of transaction confirmation.
Yeah, it is enough that have nothing to change. And I used to keep the feature the same as we have known and trusted upon. Speed is not resistible, anytime it changes depending on the blockchain traffic and not sure if there is a way to change it, in fact, it never been recognized as a big problem in Bitcoin but just normal issue, and I don't think there is a need to change it. Of course, there are others, for example, a protocol that forces you to use huge computing power, but this does not spoil life as much as the speed of transaction confirmation.
What we need now and in the future is the consistency of its security. With the increase of hacking events, it seriously affects the market trust and people will be afraid of the situation will get worse, and hacking/scamming complaints wildly spread around.
August 25, 2020, 07:33:19 PM
If you had consensus to make whatever changes you saw fit in Bitcoin right now with a hard fork and the community was 100% behind you, what changes would you make? What improvements do you think Bitcoin needs through a hard fork?
None.Current state of Bitcoin is perfect because its stable and that is most important.
We need more privacy but i wouldn't push it now, because privacy solution is not ready to be included in Bitcoin code.
If it will be, and will be tested to pain treshold, we will have it.
Bitcoin development way is slow, but it needs to be slow to hold value.
August 25, 2020, 06:51:40 PM
I think every blockchain is aiming for faster transaction speed with low fees, If I have given the opportunity I will not do it, we have a lot of forks in the market right now like litecoin and those Bitcoincash tweens lol.
As seeing that the market continues to spread and additional crypto users, speed should be more prioritize this time. Fees are just a giveaway for miners and help them to grow and earn a profit. It only worsens the situation if we also cut the fees for miners and pay their services, I don't have to change it. I can picture it out that there is a bottleneck to happen once we fully engage in Bitcoin and could be in a hassled if we keep the TX speed the same. Things we need to look at how this could be changed or we need higher specs for mining equipment but it also increases the fees.
August 25, 2020, 06:04:21 PM
I think Bitcoin is good enough now, Bitcoin hard fork is not really needed. Too many hard forks already happened anyway,
better to focus on something else. But if there really has to be a change from Bitcoin, it might be about Bitcoin transaction
speed. Which is still an obstacle until now.
better to focus on something else. But if there really has to be a change from Bitcoin, it might be about Bitcoin transaction
speed. Which is still an obstacle until now.
August 25, 2020, 04:48:01 PM
The only thing I would have love to do with bitcoin network is to increase transaction time per-second. After this, many alt coins will die off BTC can just do
August 25, 2020, 12:11:56 PM
I think every blockchain is aiming for faster transaction speed with low fees, If I have given the opportunity I will not do it, we have a lot of forks in the market right now like litecoin and those Bitcoincash tweens lol. Instead I will just support one of them or find another coin with almost no transaction fee which already exists there is no point in creating a redundant coin, I don't plan to add another sh*tcoin on the market. But I won't leave bitcoin it is the backbone of all altcoins.
August 25, 2020, 05:05:27 AM
Incentivize full nodes by allotting 1% of a single block reward to the nodes that has the most uptime in a 2-week cycle. Might not be the best change to do but will certainly be an appreciated one, especially to those running nodes round-the-clock. 1% won’t hurt much on the miners really, and that 1% would be taken off of all the blocks on that two-week period, so if there are a thousand blocks more or less, each of those we would take 0.0001% to add to the pot for the nodes that stayed up non stop during that period. Not a great implementation, I know, but it’s something for the nodes.
EDIT: Pretty sure my math is off, but you get the point.
EDIT: Pretty sure my math is off, but you get the point.
Then I believe Roger Ver and Jihan Wu could bribe the full nodes with an increased 5% of the block reward if they support, and run Bitcoin Unlimited. Craig Wright 10% if you run, and support his shitcoin.
Now full node has 0%. What prevents Roger Ver from giving 5% and getting his way?
August 25, 2020, 04:33:39 AM
Incentivize full nodes by allotting 1% of a single block reward to the nodes that has the most uptime in a 2-week cycle. Might not be the best change to do but will certainly be an appreciated one, especially to those running nodes round-the-clock. 1% won’t hurt much on the miners really, and that 1% would be taken off of all the blocks on that two-week period, so if there are a thousand blocks more or less, each of those we would take 0.0001% to add to the pot for the nodes that stayed up non stop during that period. Not a great implementation, I know, but it’s something for the nodes.
EDIT: Pretty sure my math is off, but you get the point.
EDIT: Pretty sure my math is off, but you get the point.
Then I believe Roger Ver and Jihan Wu could bribe the full nodes with an increased 5% of the block reward if they support, and run Bitcoin Unlimited. Craig Wright 10% if you run, and support his shitcoin.
August 21, 2020, 06:03:47 PM
If you had consensus to make whatever changes you saw fit in Bitcoin right now with a hard fork and the community was 100% behind you, what changes would you make? What improvements do you think Bitcoin needs through a hard fork?
Would you update scaling, security, consensus protocol, programmability/smart contracts, other stuff? Give details.
security is what I will prioritize. with this hard fork, many people will struggle to get bitcoin because the profit now is very tempting. criminals against bitcoin will also increase, this security is useful to avoid negative actions that will surge during the hard fork Would you update scaling, security, consensus protocol, programmability/smart contracts, other stuff? Give details.
August 21, 2020, 03:16:48 PM
Incentivize full nodes by allotting 1% of a single block reward to the nodes that has the most uptime in a 2-week cycle. Might not be the best change to do but will certainly be an appreciated one, especially to those running nodes round-the-clock. 1% won’t hurt much on the miners really, and that 1% would be taken off of all the blocks on that two-week period, so if there are a thousand blocks more or less, each of those we would take 0.0001% to add to the pot for the nodes that stayed up non stop during that period. Not a great implementation, I know, but it’s something for the nodes.
EDIT: Pretty sure my math is off, but you get the point.
EDIT: Pretty sure my math is off, but you get the point.
August 21, 2020, 02:53:28 PM
I don't think it is possible, but I want to add a payment revert option in the transaction before it confirmed 10 blocks. The transaction fee may not be returnable and everyone needed to wait for 10 blocks for the transaction confirmation though.
Lots of time people send BTC to the wrong address, a revert option will give them a few minutes though if they had done some mistake.
Lots of time people send BTC to the wrong address, a revert option will give them a few minutes though if they had done some mistake.
August 21, 2020, 01:43:11 PM
I don't have any technical knowledge about what I can change with bitcoin if I do the hardfork now. But I would like to change the transaction time and Tx fee. Now If I want to do any transaction it cost me around 5-6$ to do that in normal speed. If I do with lower fees it takes too much time to confirm the transaction. So, I would definitely make it faster and easier and cheaper for users.
August 21, 2020, 01:15:31 PM
I don't have any technical information regarding Bitcoin project on github, but as a normal person who use and invest on bitcoin, I would focus on transactions and I would try to make the transactions to be real fast with a very low amount of fee. Also, I would try to implant some sort of smart contracts on the network, it will allow make to create own tokens under the bitcoin's network.
August 21, 2020, 07:16:40 AM
I'm not a tech savvy person,but I would change two things in my hardforked version of Bitcoin.
All the complex mathematical tasks that are executed during BTC mining should be used for something useful.
I don't know what exactly.Maybe there is a way for scientists to use the enormous power of the Bitcoin miners.
Another thing is to somewhat reduce the electricity costs of BTC mining.I don't know how this can be achieved,but that such innovation would be great.
All the complex mathematical tasks that are executed during BTC mining should be used for something useful.
I don't know what exactly.Maybe there is a way for scientists to use the enormous power of the Bitcoin miners.
Another thing is to somewhat reduce the electricity costs of BTC mining.I don't know how this can be achieved,but that such innovation would be great.
The more you understand "why" Proof of Work is, in Bitcoin, I believe the more you would understand why the "waste of energy", in Bitcoin, is a "something useful" in itself.
Bitcoin Proof of Work solved the Byzantine General's Problem. Proof of Work is Bitcoin's true foundation, not blockchain.
August 21, 2020, 01:28:35 AM
Yeah! this is one of the major problems some are facing when they don't have their own BTC wallet. When they only using exchanges wallet, they force to go with the flow about the exchange's transaction fees and it varies from time to time especially when the BTC price is rising. I have encountered this kind of problem when I don't have enough transaction fees to move my BTC and wait for the price to subside to successfully execute my transaction with enough transaction fees.
That is the problem with exchanges and I think, not really with bitcoin even though the fees in bitcoin is really high, exchanges should not put more burden for small traders, those that haven't really have a huge amount of funds to trade.
Perhaps, fixing this problem will just make it easier for small traders to withdraw funds because instead of trading their funds to cryptos that have a small transaction fees, they can already withdraw their funds in BTC.
Outside of an exchange, I don't think Bitcoin tx fee's aren't too bad, since I could adjust the sats/byte to the amount that I want. The only problem is the time it takes for my transaction to be confirmed in the blockchain.
August 21, 2020, 01:20:04 AM
I am not a technical guy but I would suggest to work on improving the speed of Tx and have a cap in fees. There are people out there who pays crazy fees and force others to follow them too if the tx is urgent to get at-least one confirmation.
It seems like this is a very good idea, I would also do the same as you if it happened to me, it looks very real for the current transaction fees are very high, this should really be resolved in a very good way so that everyone who wants Doing less transactions does not suffer losses at such high costs today. 
August 21, 2020, 01:15:24 AM
I think the only thing I'd want to consider really changing is the mining. I really miss the days of CPU/GPU mining bitcoin. It would be nice to see more coins come back with CPU/GPU PoW algorithms, avoiding presales, premines, and the centralisation that comes with them. I don't hate ASIC mining, I just find that their prices are utterly insane and the noise in addition is just too much for any regular folk to have sitting around.
August 21, 2020, 01:03:37 AM
there are some nonsense in bitcoin consensus rules that aren't really important but they are still nonsense and need fixing.
for example the way sigops are being counted is horrible and any hard fork must address this, they should stop counting sigops of coinbase signature scripts, they should start counting sigops of multi-sig OPs correctly instead of jumping to 20 each time it doesn't match the expectation or if it is in a pubkey script instead of redeem scripts,...
there are also some restrictions that should be placed on scripts specifically pubkey scripts such as their length which can be anything since they are not evaluated.
there are also some restrictions that i would place for OP codes like checksig ones that should fail if they get an invalid public key.
there are also a bunch of standard rules enforced by bitcoin core that in my opinion must become consensus rules instead and they can happen in a hard fork. eg. minimal push (for numbers), push only (for signature scripts), clean stack (after execution of the script), minimal if (use OP_TRUE/False only),...
P.S. note that unlike most suggestions here all of these changes are both possible and easy to implement and nobody can really oppose them either, like sigop counting mechanism.
for example the way sigops are being counted is horrible and any hard fork must address this, they should stop counting sigops of coinbase signature scripts, they should start counting sigops of multi-sig OPs correctly instead of jumping to 20 each time it doesn't match the expectation or if it is in a pubkey script instead of redeem scripts,...
there are also some restrictions that should be placed on scripts specifically pubkey scripts such as their length which can be anything since they are not evaluated.
there are also some restrictions that i would place for OP codes like checksig ones that should fail if they get an invalid public key.
there are also a bunch of standard rules enforced by bitcoin core that in my opinion must become consensus rules instead and they can happen in a hard fork. eg. minimal push (for numbers), push only (for signature scripts), clean stack (after execution of the script), minimal if (use OP_TRUE/False only),...
P.S. note that unlike most suggestions here all of these changes are both possible and easy to implement and nobody can really oppose them either, like sigop counting mechanism.
August 20, 2020, 08:39:55 AM
If you had consensus to make whatever changes you saw fit in Bitcoin right now with a hard fork and the community was 100% behind you, what changes would you make? What improvements do you think Bitcoin needs through a hard fork?
Would you update scaling, security, consensus protocol, programmability/smart contracts, other stuff? Give details.
Would you update scaling, security, consensus protocol, programmability/smart contracts, other stuff? Give details.
I think the major challenge rocking the space now is the challenges with scalability in Bitcoin. If i had the priviledge of hard forking bitcoin i wil change the transactions per second of bitcoin as it is the major concern for users transacting via the bitcoin framework.
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