You will perhaps be glad to know that the little demo I did a few days ago moved things closer to being ready.
You might know better than me, but I recall ONLY seeing one strong vote against such buddy - and there were several who voiced a wish to see such revised contributions to this thread. Seems quite leaning in favor.
I'm not going to argue for bigger blocks right now though. I think the need is going to become ever more self evident. Indeed, the recent hashrate crash would have been largely a non-even if there was adequate capacity.
Yes.. this will be interesting to see how these matters play out, for sure.
Tentatively, I am personally considering the playing around with the hashrate last week to end up being a BIG ASS nothing burger - even though it surely had some testing effects on the system.. but gosh did not seem to be sustainable... in other words, better throw some more withdrawal of the mining before it even will start to matter.. try to sustain it for a few months (if there is such a will to stay away from mining king daddy for that long without actually losing out to other miners who end up coming on line), then maybe we might need to start paying attention...
To be fair, if things string out more than a couple of weeks, the difficulty adjustment will take care of things.
That is probably part of the reason that such shenanigans started at the beginning of the difficulty period, even if some might proclaim it to be "pure coincidence," but whatever it does seem to be relatively a good thing for our little fiend to be experiencing a variety of challenges (short of irreparably damaging it or killing it... which would surely NOT be a preferred outcome.. especially for HODLers).
Conversely though, we don't currently have large adoption of time critical transactions such as would be the case if second layers were heavily adopted (and I do expect them to be).
That is the part that is going to be interesting to see evolve in terms of figuring out if improvements need to be made whether on the mainchain or second layer. I did browse over your earlier seemingly strawman criticism about opening 7 billion channels.. and fuck richy, at least you should be trying to present valid criticisms rather than presuming that our current bitcoin (and second layer) needs to be able to support 7 billion peeps when we might be lucky if there even 70 million dabbling in bitcoin or 7 million dabbling on lightning.. or whatever.. and so in that sense genuine arguments are going to appreciate and recognize abilities to grow over time rather than measuring what we currently have being insufficient for some pie in the sky scenario that may even well be 20 to 70 years away (best case, slower adoption case).
I will agree with you Richy, that the direction of such hashrate strikes has not been resolved yet, so it will be interesting to see if it happens again (you seem to be presuming that it will) and then if it does what kind of effect it ends up having, overall, whether during a price rise period or during a correction (or used as an excuse to make the correction seem to be based on fundamentals rather than folks dicking around and trying to attack our little fiend, aka king daddy bitcoin)... again.. tentatively thinking it is a nothing burger except for peeps who get scared easily and for peeps who want to spread some bullshit narrative about bitcoin being broken.. blah blah blah
It wasn't really speculation about the future as an observation about events which occurred. Though yes, it seems statistically likely that Bitcoin will take another hit to the hashrate at some point as much as it is likely California have the quake it is overdue for or the New Madrid fault will cause problems a bit closer to home. Shit happens and China's engineering projects are often of questionable quality.
For sure, there could be some world wide issues (such as an EMP) or maybe a variety of other scenarios that challenge the maintenance of hashrate, whether a short term phenomena within a difficulty period or something that might happen over several difficulty periods.
You may well recall (even though I recall that your spin on the event is quite different from mine) that from about early December 2017 to late January 2018, there was an ongoing attack (spamming) of the BTC blockchain, and sure you might want to call it innocent (organic) usage whatever, and I suppose no matter what it was, there has likely been some attempts to make such attacks more difficult to carry out, and I am not even suggesting that they might not be able to be carried out, especially if there might be a few hashrate crippling events that happen at the same time and then coupled with some purposeful attacks.. so sure, would it be a matter of just waiting it out or would there be some previously unprofittable hashrate coming online from machines that had been turned off..
We might not know the answers to some of these matters without experiencing some variation of them.. and perhaps in combination and perhaps in smaller forms before the BIGGER hits might come (perhaps somewhat expectedly unexpectedly, as you seem to suggest).
I actually think the big test for Bitcoin is going to be if we see a protracted netsplit where a significant number of blocks are mined on competing chains. It will all be sorted out per Bitcoin's rules, of course but the normies are going to throw a fit.
I am not sure, exactly what you mean, but I am NOT completely out of the loop that some attacks on bitcoin could come from within and about differing opinions that will end up causing the market to choose - while at the same time could well have a decent amount of division - and not just normies.. so if there is a battle, there can be pissed of people on both sides who vary in their technical expertise and their OG status or whatever (assuming that there might only be two sides when there could end up being more than two sides to make matters even more confusing)... I am not going to act like that those scenarios might not develop in bitcoin, but at the same time, I am not going to let my speculation about such scenarios to stop me from continuing to invest in bitcoin.. and to wait and see in some regards.. and even continue to recommend that others better fucking get a stake in bitcoin.. sooner rather than waiting around.,. hahahahaha
