Unlimited transactions could occur OFFCHAIN,
that amount of transactions will be stolen from the miners as a whole, decreasing the total amount of transactions from them to choose from chain
Topic: Segwit on Bitcoin has Failed , BTC Core has Lost , The Miners have Won (Read 4516 times)
February 26, 2018, 08:55:40 AM
February 25, 2018, 03:16:36 AM
They have to have some angle are working. And it can work.
February 25, 2018, 02:47:55 AM
But Bitcoin Core does not care. They will run this out till November, no issue. They see BTC as a 'store of value' not a currency. So they really don't care if the block size increases or not. Thus it is more of an issue to the miners.Segwit & LN are the Power Grab, if that fails then BTC Core fails.
But if the seg witness and lighting 'do work' even modestly as bitcoin core hopes...I can see this drag'ing out for another 4-5 years...with the end being you use BCH or LTC for
transactions and BTC as a store of value...both camps would then make enough on each horse to flog.....stalemate...it has already gone on far longer than I thought it could
so pretty much figure that this is the new normal
They have worked very well in terms of losing mostly all transactional / business clients, supporters and such reputation and market share as well.
If this down trend for BTC and the uptrend for BCH holds for the next few years....
See what cobra and lukejnr are trying to do, next split of community.
February 25, 2018, 12:07:25 AM
But Bitcoin Core does not care. They will run this out till November, no issue. They see BTC as a 'store of value' not a currency. So they really don't care if the block size increases or not. Thus it is more of an issue to the miners.Segwit & LN are the Power Grab, if that fails then BTC Core fails.
But if the seg witness and lighting 'do work' even modestly as bitcoin core hopes...I can see this drag'ing out for another 4-5 years...with the end being you use BCH or LTC for
transactions and BTC as a store of value...both camps would then make enough on each horse to flog.....stalemate...it has already gone on far longer than I thought it could
so pretty much figure that this is the new normal
February 24, 2018, 10:27:17 PM
But Bitcoin Core does not care. They will run this out till November, no issue. They see BTC as a 'store of value' not a currency. So they really don't careif the block size increases or not. Thus it is more of an issue to the miners.Segwit & LN are the Power Grap, if that fails then BTC Core fails.
August 02, 2017, 07:49:08 AM
why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin
If segwit is activated, then Lightening Network will be usable ,
If LN is usable, then they can LOCK BTC up ,and start receiving transactions fees offchain
BTC miners will receive none of these transaction fees that happen offchain,
(it is ~$1000 per block at the moment.)
LN will get rich and BTC miners will go broke (as the block rewards cut in ½ ever 4 years)
LN is staging a complete & utter takeover of BTC away from the miners.
Which is why the miners are refusing to activate segwit, they want to keep their jobs.
August 02, 2017, 06:38:22 AM
Segwit is DEAD!
February 23, 2017, 06:01:27 AM
So what is next solution for block size of bitcoin, that is question must be answered right now as comunity of bitcoin
than debates ego without any solution. I don't know the best solution for every one but it is not about competition,
it is about the problem of block size bitcoin must be finished by us as comunity of bitcoin.
than debates ego without any solution. I don't know the best solution for every one but it is not about competition,
it is about the problem of block size bitcoin must be finished by us as comunity of bitcoin.
February 16, 2017, 04:43:12 PM
why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin
If segwit is activated, then Lightening Network will be usable ,
If LN is usable, then they can LOCK BTC up ,and start receiving transactions fees offchain
BTC miners will receive none of these transaction fees that happen offchain,
(it is ~$1000 per block at the moment.)
LN will get rich and BTC miners will go broke (as the block rewards cut in ½ ever 4 years)
LN is staging a complete & utter takeover of BTC away from the miners.
Which is why the miners are refusing to activate segwit, they want to keep their jobs.
February 16, 2017, 09:24:05 AM
No waiting and no congestion. someone please explain to me why.
I'm guessing the fact that it does not bring about "no waiting and no congestion" might have something to do with it.
February 16, 2017, 08:20:41 AM
It is dead? You don't see Segwit is higher than BU and 8MB? It means that in the future, miners will vote for it, and the proportions tell us that SW will be most possibly implemented.
Segwit has to have 95% to be activated my mathematically challenged friend
Observe the below quote, segwit will never attain 95%
Do you realise that segwit has until Nov to activate ? i think you are a little premature. 
And I think many of you can't do math.
8 MB Blocks 7.5% => 100%- 7.5% = 92.5% SEGWIT FAIL
or
Bitcoin Unlimited 18.3% => 100%-18.3% = 81.7% SEGWIT FAIL
Combined 25.8% => 100%-25.8% = 74.2% SEGWIT FAIL
Segwit has failed, Game Over it will never reach 95%.
Again a side point. Imho bitcoin core does not care if seg witness fails. They at fine
with 1mb block size and btc less as a currency and more as a store of value. They will
then call it a win. They and blockstream keep control of code. Sad, but seems the trend.
February 16, 2017, 04:41:47 AM
It is dead? You don't see Segwit is higher than BU and 8MB? It means that in the future, miners will vote for it, and the proportions tell us that SW will be most possibly implemented.
Segwit has to have 95% to be activated my mathematically challenged friend
Observe the below quote, segwit will never attain 95%
Do you realise that segwit has until Nov to activate ? i think you are a little premature.
And I think many of you can't do math.
8 MB Blocks 7.5% => 100%- 7.5% = 92.5% SEGWIT FAIL
or
Bitcoin Unlimited 18.3% => 100%-18.3% = 81.7% SEGWIT FAIL
Combined 25.8% => 100%-25.8% = 74.2% SEGWIT FAIL
Segwit has failed, Game Over it will never reach 95%.
February 16, 2017, 04:14:43 AM
It is dead? You don't see Segwit is higher than BU and 8MB? It means that in the future, miners will vote for it, and the proportions tell us that SW will be most possibly implemented.
February 16, 2017, 04:12:22 AM
why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin
Users want a more permanent solution and miners of course would love to keep fees high. But that's just IMO February 16, 2017, 03:26:52 AM
why people do not accept segwit for Bitcoin? I find it very beneficial to the transaction, we will be done quickly, all transactions will be processed in minutes. No waiting and no congestion. someone please explain to me why. I need to understand a little about this, and why the miners did not agree segwit for Bitcoin
February 16, 2017, 02:23:36 AM
This is where LTC become relevant.
BTC for holding and LTC for transfactions.
LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
BTC for holding and LTC for transfactions.
LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
Looks like you missed the memo: http://litecoinblockhalf.com/segwit.php
Segwit is also failing in LTC. People just don't want it. This is after they lowered the activation threshold to 75%, and furthermore decided that "not signalling will be consent by default"!
the "not signalling will be consent by default" will likely imho mean it WILL get approved...just saying (then again the ways of seg witness are mysterious to me)
February 15, 2017, 01:13:53 PM
You seem to think that the Bitcoin communitys only purpose is to support the miners. That is wrong - the miners job is to support Bitcoin!
The miners are an essential part of the community. Your entire 'us vs. them' premise is flawed. Without miners, Bitcoin dies.I fully agree. As long as the miners fill their role in the system there is no problem. If some of them start to push their own agenda, things change radically.
February 15, 2017, 12:37:26 PM
This is where LTC become relevant.
BTC for holding and LTC for transfactions.
LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
BTC for holding and LTC for transfactions.
LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
Looks like you missed the memo: http://litecoinblockhalf.com/segwit.php
Segwit is also failing in LTC. People just don't want it. This is after they lowered the activation threshold to 75%, and furthermore decided that "not signalling will be consent by default"!
February 15, 2017, 11:17:04 AM
You seem to think that the Bitcoin communitys only purpose is to support the miners. That is wrong - the miners job is to support Bitcoin!
The miners are an essential part of the community. Your entire 'us vs. them' premise is flawed. Without miners, Bitcoin dies.
February 15, 2017, 09:47:47 AM
This is where LTC become relevant.
BTC for holding and LTC for transfactions.
LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
BTC for holding and LTC for transfactions.
LTC will get segwit and the tons of features it offer... BTC will remain fat and clumsy.
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