Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19606. (Read 26608829 times)

+ there are two dimensions in growth, one being the money volume the other being tx count. Money volume will continue to increase and scale even with a steady tx count as very low value txs give their place to higher value txs in a "crowded" scenario.

+ there are two dimensions in growth

+ the fact that there is no expansion space is a bullshit argument. Blocks are at ~600kb (including dust and spam), not 1mb. It has +50% capacity to reach 900kb - with 100kb to spare. If some blocks are full, so be it...

+ there are two dimensions in growth, one being the money volume the other being tx count. Money volume will continue to increase and scale even with a steady tx count as very low value txs give their place to higher value txs in a "crowded" scenario.

... To put it in plane language...
I don't know what has to be done, but I feel something has to be done. So, let us do what we can do, ruin bitcoin by granting free space to every spammer on the blockchain.

Is that a serious question?

An Open Letter from Sam Cole (CEO of KNC Miner)
Post reputation: 4 Quote
Fri Jan 15, 2016 4:49 pm

Sam Cole, CEO of KNC wrote:
All.

...
The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.
...

Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC

We are clearly facing a crises like we have never faced before in the bitcoin echo-system.

It is called a instigating a "precedent": if you can manage it for one protocol parameter, you can do it for everything else.

How is increasing to 2mb as bad as increasing supply past 21m?

It is called a instigating a "precedent": if you can manage it for one protocol parameter, you can do it for everything else.

By the sound of it increasing blocks will invoke the great fire wall of China and btc will become more decentralised almost overnight.

It's like asking turkeys to vote for Christmas

An Open Letter from Sam Cole (CEO of KNC Miner)
Post reputation: 4 Quote
Fri Jan 15, 2016 4:49 pm

Sam Cole, CEO of KNC wrote:
All.


Maybe e-mail is not the best place to do this, but there aren’t many better choices that come to mind right now. Please feel free to quote me and forward this to anyone you see fit. You may even Post it on Reddit or other forums or simply ignore it.

To anyone reading this who was not on the original To: list. It simply means that you were not at the top of my inbox and nothing else. no one has been excluded on purpose at all.


We are clearly facing a crises like we have never faced before in the bitcoin echo-system. It appears to be completely caused by humans this time. It should be seen as a success issue, even if it’s not a nice problem to have.

Bitcoin is, as I hope you all agree, still very very small on the size of global acceptance. We have a long way to go before it actually realizes its true potential. I personally believe that bitcoin can become a great system for many things in the future. We may all have different ideas on where Bitcoin is going but I don’t believe for one second that anyone here will want it to stop and stay exactly where it is.

The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.

We have on-boarded about as many users as we can. There simply is no space left to expand bitcoin. There are many competing ideas there are many smart people and possibly to many ideas. The fact remains the same:
Most of the latest development ideas coming out are not addressing our issues this time. So it will fall back on us to protect what we have built and let it expand into what we think it can become.

So I propose that we jump to 2mb in the Bitcoin classic idea. Not only will this allow us to expand bitcoin and on board more users, it will also show that:

· We will protect our investments and businesses.
· Sound economic rules govern bitcoin businesses and not just ideological ideas.
· Under pressure we can make tough decisions that are for the best of bitcoin and not for any one individual company.
· The ideas and fixes the development team produce need to be more influenced by the economic requirements we have, not just the technical ones.

Now for the other maybe good maybe bad things

· It will cause more rifts in the development teams.
· It will cause us all to go through the pain of a hard fork.

The lists above are not meant to be extensive or exhaustive and there are many that can be added to either side, but the main point is this: It’s no longer really a choice to simply stand still and wait for others to fix this problem.

I propose that we all simply stand up and stand behind bitcoin. Allow it to grow more in the simplest way possible, and I can’t emphasize enough how important simple is to this process. Humans are making this complex we don’t need technology to make it more complex.

So with the above said: We will be changing our code to run 2mb bitcoin classic ASAP, please join me in changing your code to run the same or public show your support.


Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC
http://www.kncgroup.com

https://forum.bitcoin.com/bitcoin-discussion/an-open-letter-from-sam-cole-ceo-of-knc-miner-t4868.html

https://www.reddit.com/r/btc/comments/413mhn/an_open_letter_from_sam_cole_ceo_of_knc_miner/

the chinese panics were fun, but u guys really have taken this racism thing to new levels that i can't condone. .. i just cannot hate people just cuz they mine bitcoins. #sorrycharlie

It is called a instigating a "precedent": if you can manage it for one protocol parameter, you can do it for everything else.