Topic: Scaling issues (Read 1037 times)

Why does BTC network need to be scaled ?

Currently BTC takes more then 10 min to transfer which what it was designed to do initially. The transaction time increase is due to more & more people using BTC for investment, for trading or just general buying things. If BTC is to become more popular & be expected by big e-commerce retailers, transaction times need to be faster the current 30 min to hours.

Also, what started as a way to trade among peers & buy stuff anonymously, is now trying to widen the network to suit retail application.



So what is the issue with scaling debate ?

Well, being a decentralised program means that 97% of the network need to agree on how the scaling should be done. Currently, the two sides who are at disagreement make up over 90% of the network, the consensus is the rest 10% will just follow the majority vote.

Bitcoin core developers which is North American and run 82% of the network, in simple, want to use add-ons or side-chains solution called SigWit to make the overall network run faster, better & safer then current.   


Bitcoin unlimited developers which is China based has the second biggest power to run the BTC network, 12.5% total, in simple, wants to change the core code of the BTC network. Pretty much replacing with a new set of rules, codes ect.



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Here is chart showing % of companies that run the BTC network. https://coin.dance/nodes#allNodes



The most likely out come if they don't agree ?

Well, this is IMO, the price will of BTC will eventually fall. This will be be due to people not liking the long times needed per transaction and most likely go use some other coin. If we look at some of the coins used in black market e-commerce sites like Alphabay, i would say ETH & XMR could see the most steady price action. But from my investment point of view, if BTC starts going down, most coins will follow.


The other scenario is that they both go there separate way's and Hard-Fork.

Hard-fork would essentially crate 2 bitcoins, the original BTC will be in the hands of Bitcoin Core team & Bitcoin Unlimited will create so other name for there BTC coin version.

This scenario will create panic for all users of the BTC network especially investors who will most likely ( or have already started ) dump BTC and even other coins till things look good again. I would also think if that plays out, the smaller investors will panic leaving a blood bath behind.

I have noticed LTE price gaining but still unsure if it's a pump or people hedging bet's. 


I'm not at all an expect on trading or Crypto's so please DYOR

I hope this should help you get an answer to your question
https://cointelegraph.com/explained/bitcoin-scaling-problem-explained

Yep, that’s true. Most of the information on different platforms is just to scam newcomers. Especially posts depreciating bitcoin are numerous and ridiculous. The best way to obtain information about scaling issues is to take opinion of old investors. Moreover bitcointalk is the best forum to obtain such information.

I think reddit is often a good source, even for newbies, I don't think he is too dumb to not be able to separate the wheat from the chaff.

For newcomers to the bitcoin community, they do not have too much knowledge, so they do not need to understand the main issues of bitcoin. They should learn the basic information about bitcoin, all the specialized information need not be exploited.

I believe it would be better to read  the two opposing proposal, and get the information and explanation of the two sides.  In order to not get confused i believe one must have a knowledge about the issue.  More probably an advance knowledge so it would be best if one is just starting to learn about bitcoin to understand terminologies and/or some codes  since wicked people plays with words but the code would not.

You have to learn it yourself, the knowledge and experience will help you give the most accurate ratio, your success is yours.

The OP is supposed to be getting an answer to their question here, rather than a series of people telling him where the best place to get the answer.  The best place is wherever the OP asked.

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The point is, Bitcoin's transactions are all publicly documented and you can download them by running a full node.  Full nodes enforce the consensus rules no matter what, so more full nodes = the users' power to continue enforcing these rules.

The cost of running a full node rises as more transactions are sent, and unfortunately there is no direct reward for running a node.  So the amount of data that can fit into a block is limited to reduce this strain.

However, the limited data means that the network would not be able to process a large amount of transactions.

So the main argument is whether to increase the block size or use alternative methods such as SegWit (which removes signature data from transactions to decrease their size).  Both can only scale the network to a limited extent, and a lack of consensus means that so far nothing has happened.  Hopefully this will change with SegWitx2​ happening soon.

Make a google search to understand what is hardfork. Currently both eth and bitcoin network is congested because of their low capacity. Segwit2x is about to be activated on bitcoin to solve scaling issue which is supported by majority of node operator and miners so we might not see any hardfork on bitcoin, dont have any info about eth scaling solution.

We are busy with a natural process where different groups are following the correct channels to propose different ways for Bitcoin to scale. You

have different options to do this and that is why you are seeing all this conflict between the different groups to fight to get the most of the nodes

to run their code changes. { This is not strange with a OpenSource consensus model, because we do not have a central authority making all the

decisions. } Will you be hosting a Bitcoin node or are you just a normal bitcoin user?  { How involved are you? }

Development & Technical Discussion
Beginners & Help
Level head and also knowledgeable person you can ask anything from

and here is today's front page of what you are suggesting to a newcomer:

... and it goes on like this but doesn't fit in one screen shot!

and /r/bitcoin is just as bad. it has become the repetition of "keywords" most of them repeating it don't even know what they are saying.
if you ask a genuine question as a newcomer to bitcoin there, your post probably will go to page 3. but if you post death to Jihad Wu it will be in page one with a million upvotes.

here at least you can get a proper answer out of someone with real knowledge.

Information size for newbees should be just limited to max 1MB - other info is spam - BS!

Otherwise we cannot scale decentralized....


 

Bullshit is everywhere - you think it's any better here on BTT?
I just think everyone should use all possible sources for collecting information.
I suggested 2 of them - suggest something else which is better for newcommers in your opinion

You think that it's good for newcomers to read someone's bullshit on reddit ? (Not saying its all bad but most of it yes..) It's better to learn here.

Honestly, the scaling issues are confusing to me as well. I have been involved with Bitcoin for years (since 2013) and still have no idea how any of that stuff works. Leave it up to the devs.

The cryptographic functions that make bitcoin and other crypto currencies secure also make them slow via adding additional overhead computation on top of basic functions.

Its similar to how WIFI encryption makes a person's internet run slower. The encryption/decryption abstractions consume enough hardware/software for a noticeable increase in time to be necessary.

"Scaling issue" is probably an inaccurate term to describe it.

The hard fork discussion is extremely political with a lot of agendas and misinformation present.

Do NOT listen to such bullshit. Use all available sources of information.

Do NOT go to either of those reddit links that "tomkat" posted above, you will only get more confused if you are new.
sadly those two places are mostly fights and endless arguments that will make any newcomer more confused than helping them.

If you've got a question, or something you don't understand, then ask.

There are plenty of knowledgeable people here that can help you.

Go here
https://www.reddit.com/r/Bitcoin/

and here

https://www.reddit.com/r/BTC/

and take your time to read for the next few days, and you'll have enough information I think