SegWit Adoption Surpasses 7% | Bitcointalksearch.org

aleksej996

sr. member

Activity: 490

Merit: 389

Do not trust the government

Quote from: candy27 on October 03, 2017, 03:31:55 PM

So why is the hard fork happening? I don't get it. There is the segwit option. And there is the bitcoincash option old-school without segwit but with 8 MB. So what is the purpose of this third option?

I don't know. These are big companies that are pushing it, they don't want it their way and nothing else. I guess they were bothered by the whole debate so that is a balance of taking both. They also maybe don't want to have this debate again in the future as it causes uncertainty and short period price drops, which is bad for business. These are businessmen, not developers, they don't understand all the technical details and for them no solution is better then the other. They just see it as two groups having a debate about something they don't understand, but that hurts their business so they want to fix it. This is how businessmen reach a conclusion, they talk to both sides, shake some hands, reach a compromise between the two parties. There is no clear logical technical advantage of one system over the other, they simply don't get that.

candy27

member

Activity: 104

Merit: 13

Quote from: aleksej996 on October 03, 2017, 03:20:02 PM

Quote from: candy27 on October 03, 2017, 02:50:37 PM

So no point hardforking until we're pushing up against the 4MB limit? Which would take a couple of years at least?

Of course there is no point. Even 1MB blocks work, since segwit adoption is still pretty low, we really have been running all this time on 1MB. Now we will use 4MB and we will have Lightning Network that will keep many transactions off the cahin, so we are not even close to the urgent need of a hardfork. The need for it is so far away that we shouldn't even be bothered thinking about it, since a lot could change by that time.

So why is the hard fork happening? I don't get it. There is the segwit option. And there is the bitcoincash option old-school without segwit but with 8 MB. So what is the purpose of this third option?

aleksej996

sr. member

Activity: 490

Merit: 389

Do not trust the government

Quote from: candy27 on October 03, 2017, 02:50:37 PM

So no point hardforking until we're pushing up against the 4MB limit? Which would take a couple of years at least?

Of course there is no point. Even 1MB blocks work, since segwit adoption is still pretty low, we really have been running all this time on 1MB. Now we will use 4MB and we will have Lightning Network that will keep many transactions off the cahin, so we are not even close to the urgent need of a hardfork. The need for it is so far away that we shouldn't even be bothered thinking about it, since a lot could change by that time.

candy27

member

Activity: 104

Merit: 13

Quote from: Carlton Banks on October 03, 2017, 02:15:33 PM

Quote from: stompix on October 03, 2017, 02:03:49 PM

The blocks are still 0.9 (or so the article says).
The need for 2MB is still there

Um, can you count?

0.9MB is less than 1MB.

And 1MB is the old limit.

4MB is the current limit.

And the point of hardforking to 2MB is....? (and you're wrong anyway, S2x forks to an 8MB limit not 2MB. 2x is a multiplication, not a standalone figure Roll Eyes

)

So no point hardforking until we're pushing up against the 4MB limit? Which would take a couple of years at least?

xBitHodler

member

Activity: 112

Merit: 10

That's a great thing to hear! I'm using only Segwit addresses. Transactions fees are low and they are working pretty good now so what's the point of increasing the blocksize if everything is working properly? I'm afraid there are going to start another spam attack on Bitcoin network. They may use this method again to force us to use Segwit2x chain.

stompix

legendary

Activity: 2828

Merit: 6108

Blackjack.fun

Quote from: Carlton Banks on October 03, 2017, 02:15:33 PM

Quote from: stompix on October 03, 2017, 02:03:49 PM

The blocks are still 0.9 (or so the article says).
The need for 2MB is still there

Um, can you count?
0.9MB is less than 1MB.
And 1MB is the old limit.
4MB is the current limit.

And the point of hardforking to 2MB is....? (and you're wrong anyway, S2x forks to an 8MB limit not 2MB. 2x is a multiplication, not a standalone figure Roll Eyes

)

I wanted to say over...not for, my bad and my mistake, your honor.
But in terms of discussion segwit with you, one of the most active campaigners around here is pointless.
Every thread that opens will most likely get a post of you about the "propaganda machine " and anything beyond that is pointless.

Carlton Banks

legendary

Activity: 3430

Merit: 3071

Quote from: stompix on October 03, 2017, 02:03:49 PM

The blocks are still 0.9 (or so the article says).
The need for 2MB is still there

Um, can you count?

0.9MB is less than 1MB.

And 1MB is the old limit.

4MB is the current limit.

And the point of hardforking to 2MB is....? (and you're wrong anyway, S2x forks to an 8MB limit not 2MB. 2x is a multiplication, not a standalone figure Roll Eyes

)

stompix

legendary

Activity: 2828

Merit: 6108

Blackjack.fun

The blocks are still 0.9 (or so the article says).
The need for more than 2MB is still there, not only to prevent a spam attack from rising the fees to the moon again but to the much anticipated influx of users transferring bitcoin and not just holding them for eternity.

So , segwit2x will most likely still happen

candy27

member

Activity: 104

Merit: 13

https://themerkle.com/segwit-adoption-is-at-7-bitcoin-is-scaling-at-a-rapid-rate/

Quote

The percentage of Segregated Witness (SegWit)-enabled bitcoin transactions has surpassed the seven percent mark, as SegWit continues to scale the bitcoin network drastically beyond the capability of a 2MB block size increase.

According to various bitcoin data providers including Blockchain.info, the average bitcoin block size has been at around 0.9MB and the size of the bitcoin mempool, the holding area for unconfirmed transactions, has been below 12 million bytes for the past few weeks. Prior to the activation of SegWit, average block size was consistently above 0.99MB and the size of the bitcoin mempool remained above 150 million bytes

Does this mean that there is no need for segwit2x in November?

Topic: SegWit Adoption Surpasses 7% (Read 266 times)