Topic: What IF you could change one element of Bitcoins code what would it be and why? - page 2. (Read 425 times)
June 19, 2019, 06:13:03 PM
How about... Changing its crypto algorithm at around every halving or so, to defeat asics?
June 19, 2019, 04:55:10 PM
What's been there with bitcoin at present is good and I don't find anything that is a flaw or a changeable element, because the core team will be thinking beyond us after various analysis. To my understanding if one element is changed that will surely lead to change of various other elements which is a must to be done. Just a single element change will never make a big difference in the bitcoin working ecosystem.
June 19, 2019, 04:14:52 PM
Nothing. Whatever you end up implementing in a rushed manner will work against Bitcoin.
I'm perfectly fine with the current roadmap and the price doesn't care about what's under the hood, so why change anything? Most people complaining about the high fees are either faucet farmers or those who don't transact much anyway. There are tons of altcoins available with "better" specifications on paper, yet no one is really using them.
What I would like to see is people adopt Segwit and enjoy much lower fees, and stop using services that haven't upgraded yet.
I'm perfectly fine with the current roadmap and the price doesn't care about what's under the hood, so why change anything? Most people complaining about the high fees are either faucet farmers or those who don't transact much anyway. There are tons of altcoins available with "better" specifications on paper, yet no one is really using them.
What I would like to see is people adopt Segwit and enjoy much lower fees, and stop using services that haven't upgraded yet.
June 19, 2019, 02:59:20 PM
A little bit of fun but also good to see what others think.
I know this is not possible to do but everyone is different and seeing Bitcoin differently.
For me, I'd change the mining algorithm so it is less power extensive
I think it's very scary to post something here about changing things in bitcoin because once there was a fork of BCH were blockchain size was changed and now everyone blames them because of this (well, more likely they blame Roger Ver's propaganda).I know this is not possible to do but everyone is different and seeing Bitcoin differently.
For me, I'd change the mining algorithm so it is less power extensive
Personally I would kill 10 years of inactive coins or maybe would do something similar because money don't has to be in stuck, it has to move. On another hand limitation (21M supply) is great idea because it can prevent implation and price will move depend on demand and in this situation demand is number of people. Also would implement lighting network and that's all at first. On more deep stage, I need some time to think.
June 19, 2019, 02:48:01 PM
I would increase the blocksize and while we're at it, try to push Schnorr through as well (if it was ready to be implemented). Segwit's block weight hasn't yielded much of an advantage so a base block increase is needed.
I would say a 3MB base block size would be sufficient to onboard more users. I'm not going higher than that because we shouldn't forget that this isn't a toy like Bcash and the rest of the scam forks are. 3MB + LN will do it.
Currently Bitcoin isn't growing that rapidly anymore when it comes to processing more transactions on a daily basis and that's because of the 1MB base limit. Segwit adoption isn't going anywhere with toxic entities blocking adoption.
I would say a 3MB base block size would be sufficient to onboard more users. I'm not going higher than that because we shouldn't forget that this isn't a toy like Bcash and the rest of the scam forks are. 3MB + LN will do it.
Currently Bitcoin isn't growing that rapidly anymore when it comes to processing more transactions on a daily basis and that's because of the 1MB base limit. Segwit adoption isn't going anywhere with toxic entities blocking adoption.
June 19, 2019, 02:12:43 PM
fee war doesnt work
This is important for a lot of chains not just Bitcoin.
I like.
June 19, 2019, 12:36:16 PM
starting a new crypto is how the 8000 altcoins are made.
you missed the important part: the innovative idea. the 8000 altcoins are just copying bitcoin and doing what OP is saying. if you look at his post again even his example is a trivial bug introducing change.
June 19, 2019, 12:14:08 PM
i would start a new cryptocurrency from scratch with a new innovative idea. otherwise changing a "single element" of bitcoin has been done at least 8000 times in the past 10 years that created 8000 altcois (give or take) 6000 of them are already dead.
bitcoin is good the way it is. which means changing one thing in it will make it worse otherwise we would have changed it in bitcoin already.
which brings us to what i said, start from scratch and follow a new idea instead of trying to copy bitcoin
bitcoin is good the way it is. which means changing one thing in it will make it worse otherwise we would have changed it in bitcoin already.
which brings us to what i said, start from scratch and follow a new idea instead of trying to copy bitcoin
starting a new crypto is how the 8000 altcoins are made.
bug fixing and upgrading bitcoin to actually do things the community want does not create an altcoin.
forks can happen but in a good community positive consensus the fork evaporates in hours if it occurs at all.
however if bitcoin was changed controversially (no big community will/desire) then the fork would continue
so having bitcoin getting a bug fix and an upgrade to something the community will actually applaud, wont end in controversy
but starting a new altcoin from scratch is just that creating an altcoin from scratch
people are too afraid to admit that bitcoin has lost its footing since 2015 in regards to its features and ethos
people are too afraid to admit that core devs went down the wrong roadmap thats just a signpost route to an alternate network of managed accounts requiring agreements
people are too afraid to tell devs to just be devs and stop pretending to be the whole community stop pretending to be economists
June 19, 2019, 10:54:43 AM
i would start a new cryptocurrency from scratch with a new innovative idea. otherwise changing a "single element" of bitcoin has been done at least 8000 times in the past 10 years that created 8000 altcois (give or take) 6000 of them are already dead.
bitcoin is good the way it is. which means changing one thing in it will make it worse otherwise we would have changed it in bitcoin already.
which brings us to what i said, start from scratch and follow a new idea instead of trying to copy bitcoin
bitcoin is good the way it is. which means changing one thing in it will make it worse otherwise we would have changed it in bitcoin already.
which brings us to what i said, start from scratch and follow a new idea instead of trying to copy bitcoin
June 19, 2019, 10:07:22 AM
an actual fee formulae
EG
if the spending UTXO is 1 confirm old then the fee is 144x more than a UTXO thats a day old. also people can then use locktimes to not let a UTXO get added to a block. thus become in full control of priority
EG
if tx is 1confirm aged. add a lock of 6blocks. meaning your happy to wait an hour. thus you only pay 138x instead of 144x
this then:
reduces spammers on the blockchain.
if people still want fast spamming but without the huge fee they can use alternate networks of pegged tokens like LN
the fee formulae give individual control of fee's rather than a wild west auctionhouse of everyon fighting each other for top bids and everyone still end up paying the same and getting disapointed as they didnt get priority even after paying reccomendation
fee war doesnt work
EG
if the spending UTXO is 1 confirm old then the fee is 144x more than a UTXO thats a day old. also people can then use locktimes to not let a UTXO get added to a block. thus become in full control of priority
EG
if tx is 1confirm aged. add a lock of 6blocks. meaning your happy to wait an hour. thus you only pay 138x instead of 144x
this then:
reduces spammers on the blockchain.
if people still want fast spamming but without the huge fee they can use alternate networks of pegged tokens like LN
the fee formulae give individual control of fee's rather than a wild west auctionhouse of everyon fighting each other for top bids and everyone still end up paying the same and getting disapointed as they didnt get priority even after paying reccomendation
fee war doesnt work
June 19, 2019, 10:01:07 AM
I believe what you said is very true , it's something that needs to be done because to be honest, it is not only limiting ourselves at the same time it's actually degrading the environment.
Something that is not sustainable won't go for long term , therefore I believe even I would like to suggest some different method for mining that won't cost that much.
Also at the same time I would put a boundary on the price of Bitcoins so that it can't fall below this .
Since this would actually lure in more investors and make it worth something.
There is lot that could be changed.
Something that is not sustainable won't go for long term , therefore I believe even I would like to suggest some different method for mining that won't cost that much.
Also at the same time I would put a boundary on the price of Bitcoins so that it can't fall below this .
Since this would actually lure in more investors and make it worth something.
There is lot that could be changed.
June 19, 2019, 09:37:28 AM
A little bit of fun but also good to see what others think.
I know this is not possible to do but everyone is different and seeing Bitcoin differently.
For me, I'd change the mining algorithm so it is less power extensive
I know this is not possible to do but everyone is different and seeing Bitcoin differently.
For me, I'd change the mining algorithm so it is less power extensive
I wouldn't change a thing. I recognize that bitcoin's immutability is what gives it its value. I'll let the developers debate amongst themselves the proper direction of bitcoin, because they have insights I don't have.
I recognize that bitcoin has had scaling issues, but those issues will be resolved in time with the Lightning Network. Patience is key here.
June 19, 2019, 09:01:49 AM
A little bit of fun but also good to see what others think.
I know this is not possible to do but everyone is different and seeing Bitcoin differently.
For me, I'd change the mining algorithm so it is less power extensive
I know this is not possible to do but everyone is different and seeing Bitcoin differently.
For me, I'd change the mining algorithm so it is less power extensive
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