Topic: Seriously devs, segwit adoption and LN needs more time - page 2. (Read 221 times)
true but we still need "on-chain" scaling. even with LN you still need to make transactions on bitcoin blockchain not to mention people will still want to use on-chain transactions more and more every day as the adoption grows. and SegWit only gives 1.6-2 and it is opt-in so people can choose not to use it, and it will never be a 100% adoption.
I think it is about time that we raise the block size, to give segwit adoption and LN more time. Being that the blocksize increase would be done by core we can trust they'll do it right, so why shouldn't it be done?
i agree. we needed the block size increase with SegWit2x (New York) agreement. everyone was on board, miners, businesses, wallets,... but developers weren't so the community didn't get on board either. and that was the thing that activated SegWit in first place!and now nobody is implementing SegWit, the big wallets like blockchain.info and Coinbase aren't doing it. exchanges apart from 2 or 3 aren't implementing it. and people are still not using it.
Problem being, once the blocksize is increased, there's effectively no going back. So I do understand Core's conservative blocksize philosophy.
It may hurt short- to mid-term, but I think in the long term BTC will be fine, because...
If we delay too long BTC will lose its dominance and when that happens it is all over.
it will lose dominance but it won't be for long.because altcoins have the same scaling issues and then some more.
what will bitcoin lose its dominance to?
[...]
^ this.
I have yet to see an alt with a scaling approach that actually convinces me. So in the end I personally am still on-board with SegWit1x blocks for a safer, long-term perspective, despite the current short-term problems. You gotta look at the bigger picture. If all goes well these 1-2 years of shitty fees we are looking at right now will be nothing but a minor bump on the road.
I think it is about time that we raise the block size, to give segwit adoption and LN more time. Being that the blocksize increase would be done by core we can trust they'll do it right, so why shouldn't it be done?
i agree. we needed the block size increase with SegWit2x (New York) agreement. everyone was on board, miners, businesses, wallets,... but developers weren't so the community didn't get on board either. and that was the thing that activated SegWit in first place!and now nobody is implementing SegWit, the big wallets like blockchain.info and Coinbase aren't doing it. exchanges apart from 2 or 3 aren't implementing it. and people are still not using it.
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If we delay too long BTC will lose its dominance and when that happens it is all over.
it will lose dominance but it won't be for long.because altcoins have the same scaling issues and then some more.
what will bitcoin lose its dominance to?
bitcoin cash? BitPay is going to start accepting it so i am expecting more adoption of it but it is just delaying the inevitable with its block size increase alone without a second layer solution like LN. and if it implements something like LN then why use BCH then!!!
ETH? the scaling issue of it is worse than bitcoin's! it can't even handle ICOs on it and everything goes south with a simple smart contract like cryptokitties!
LTC? it is the copy of bitcoin with more orphans. so no solution there.
XRP? it is not even a currency and it is heavily centralized, if you want a centralized currency then use Paypal or credit cards,...
these new DAG-based coins? they aren't handling that much more transactions than bitcoin. they still have to scale more, and running a full node and becoming a witness is nearly impossible, in other words lack of decentralization.
what else?
So fees are getting stupid (some as high as $160), Segwit adoption is slow and the lightning network is still a ways off. The price is being affected and BTC market dominance is almost at all time lows.
I think it is about time that we raise the block size, to give segwit adoption and LN more time. Being that the blocksize increase would be done by core we can trust they'll do it right, so why shouldn't it be done?
If we delay too long BTC will lose its dominance and when that happens it is all over.
Let's drop the tribalism, the bickering, and just do what is in the interest of BTC. An increase in blocksize will not be the end to decentralization, it's been almost 10 years since BTC began hard drive sizes have increased substantially in that time and the cost has come down substantially.
I think it is about time that we raise the block size, to give segwit adoption and LN more time. Being that the blocksize increase would be done by core we can trust they'll do it right, so why shouldn't it be done?
If we delay too long BTC will lose its dominance and when that happens it is all over.
Let's drop the tribalism, the bickering, and just do what is in the interest of BTC. An increase in blocksize will not be the end to decentralization, it's been almost 10 years since BTC began hard drive sizes have increased substantially in that time and the cost has come down substantially.
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