segwit or 2MB will come very soon.
everything will be fine.
Topic: Problems after halving if blocksize is not coming to a solution? - page 2. (Read 1156 times)
If the block sized still no resolve i think bitcoin will not die and the price still the same as today price..
Bitcoin will not die and we are uses it as payment or money here online. also in any company online...
So its impossible...
Bitcoin will not die and we are uses it as payment or money here online. also in any company online...
So its impossible...
I agree with OP.
At least insofar as price increase. The block size needs to be resolved now, a month of security, and then the hype of the halving, if we hope to get the most out of this once-in-a-four-year event.
Otherwise nothing will happen except the shutting down of some of these mining farms.
At least insofar as price increase. The block size needs to be resolved now, a month of security, and then the hype of the halving, if we hope to get the most out of this once-in-a-four-year event.
Otherwise nothing will happen except the shutting down of some of these mining farms.
here is a summary of some numpty's prophecies
"bitcoin needs to double capacity and increase the fee to cover the miner income loss, meaning 4000tx needs to be $1.25 each to cover the $5k loss"
(i know facepalm right)
"miners will die off after the blockreward halving. its going to happen and no one can forsee it because its never happened before"
(i know facepalm right)
"the hard drive costs for miners would be billions of dollars, which miners cannot afford after the reward halving"
(i know facepalm right)
so lets clear this up
1. the bitcoin fiat price will rise to cover sotoshi losses
2. there are more miners AND pools then there were in 2012. the last time the reward halved.
3. lets say we have the max filled blocks of 5.7mb (2mb+segwit+payment codes). thats 300gb a year. or 1.5tb for 5 years.. basically $100 for a 2tb hard drive can hold that. and it wont be full in under 5 years because even with 5.7mb max potential. the reality will be a slower usage of that capacity growing slowly over time. secondly unscrew an ASIC and you wont see a hard drive. miners do not need hard drives(just pools) and so its not going to increase the cost of mining
"bitcoin needs to double capacity and increase the fee to cover the miner income loss, meaning 4000tx needs to be $1.25 each to cover the $5k loss"
(i know facepalm right)
"miners will die off after the blockreward halving. its going to happen and no one can forsee it because its never happened before"
(i know facepalm right)
"the hard drive costs for miners would be billions of dollars, which miners cannot afford after the reward halving"
(i know facepalm right)
so lets clear this up
1. the bitcoin fiat price will rise to cover sotoshi losses
2. there are more miners AND pools then there were in 2012. the last time the reward halved.
3. lets say we have the max filled blocks of 5.7mb (2mb+segwit+payment codes). thats 300gb a year. or 1.5tb for 5 years.. basically $100 for a 2tb hard drive can hold that. and it wont be full in under 5 years because even with 5.7mb max potential. the reality will be a slower usage of that capacity growing slowly over time. secondly unscrew an ASIC and you wont see a hard drive. miners do not need hard drives(just pools) and so its not going to increase the cost of mining
Hi Folks,
I hear more and more that if the blocksize debate is not coming to an agreement until the halving in summer Bitcoin will die, blow up, whatever. I dont understand the depdency between reward halving and the blocksize debate.
Thanks to everyone in advance for a short Explanation
I hear more and more that if the blocksize debate is not coming to an agreement until the halving in summer Bitcoin will die, blow up, whatever. I dont understand the depdency between reward halving and the blocksize debate.
Thanks to everyone in advance for a short Explanation
you don't understand the depdency because there is none between these two!
the block size debate is argument about increasing the size of each block from 1MB to something else because blocks are full and more users means more tx and more unconfirmed tx,...
the halving is the reward that miners get for mining a block which will go from 25 to 12.5
i don't see why bitcoin should die when these two come together!
Here is the scenario:
It is assumed that the halving will create a steep rise in the price of a bitcoin, and this will cause a huge increase in the movement of bitcoins in and out of exchanges. The transaction capacity of the Bitcoin network is limited by the maximum block size. Some people are afraid that the increased exchange traffic will far exceed the network capacity to the point where most transactions cannot be confirmed. The appearance of a frozen network will cause panic. Everyone will dump their bitcoins and leave. Bitcoin will die.
I think it is safe to say that the above scenario will not happen. Every event in the scenario, from the steep rise in price to the abandoning of Bitcoin, is very unlikely to happen.
It is assumed that the halving will create a steep rise in the price of a bitcoin, and this will cause a huge increase in the movement of bitcoins in and out of exchanges. The transaction capacity of the Bitcoin network is limited by the maximum block size. Some people are afraid that the increased exchange traffic will far exceed the network capacity to the point where most transactions cannot be confirmed. The appearance of a frozen network will cause panic. Everyone will dump their bitcoins and leave. Bitcoin will die.
I think it is safe to say that the above scenario will not happen. Every event in the scenario, from the steep rise in price to the abandoning of Bitcoin, is very unlikely to happen.
why it should die? at worst bitcoin will remain "crippled" due to the fact that real adoption will not take place which such a limitation, if they do not come up with anything else
Hi Folks,
I hear more and more that if the blocksize debate is not coming to an agreement until the halving in summer Bitcoin will die, blow up, whatever. I dont understand the depdency between reward halving and the blocksize debate.
Thanks to everyone in advance for a short Explanation
I hear more and more that if the blocksize debate is not coming to an agreement until the halving in summer Bitcoin will die, blow up, whatever. I dont understand the depdency between reward halving and the blocksize debate.
Thanks to everyone in advance for a short Explanation
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