- XT is a way for Gavin and Mike (evil) to say "FU" to the core devs for not following them like good little sheep
- The blocksize limit isn't a problem except during stress tests, which are not real network traffic, and won't be for quite some time
- The fees and "age priority" already built into bitcoin core seem to handle the problem as the network develops.
Now, I understand that some people are having a hissy fit because you they want 8mb blocks, but why? What's the point in devaluing the mining by messing with the core limits? You can easily pay more (up to a max of $0.50 USD, omg so much and then only...) if you want your transaction put at the front of the line. If not, wait 15, 20, or 30 minutes. Who is in such a hurry and too poor to pay an extra 0.002100 BTC? No one.
This seems to be a fight between Gavin, Mike, and the core Devs that spilled out and made everyone lose their poop in short order and largely promoted by altcoin followers in hopes that BTC will fail and their coin will take over.
Edited for clarification and to add: Media is running with this promoting the "End of Bitcoin".
http://finance.yahoo.com/news/could-split-end-bitcoin-170317429.html;_ylt=AwrC0F.FMdZVejYAGFuTmYlQ;_ylu=X3oDMTByMDgyYjJiBGNvbG8DYmYxBHBvcwMyBHZ0aWQDBHNlYwNzYw--
Thanks XT guys! You've succeeded in making BTC look weak and pathetic.
I think you miss something. We don't want to devalue mining by lowering fees, we wan't to keep the fees the way they are now.
What would be the sense of bitcoin being slow like established payment services? What would be the purpose of bitcoin whe it would cost the same like other payment services?
Bitcoin started with an alternative. Waiting until everything slows down and transactions aren't filled is plain stupid. I mean who does those transactions own? Bitcoiners. And when bitcoin doesn't work or you have to fear that it doesn't work when you don't pay the highest fee then this is doomed. I mean even with a high fee you could get your transaction stucked. When all others think the same and you at the end only have the lowest fee. You can't really predict that in case of spamming or so.
And the miners will get their share. With adoption. The more transactions because more people are using it the more fees.
Restricting adoption is plain stupid. I mean think about amazon adding bitcoin. We would have many new transactions now and all these new users would have a terrible experience. Surely that could be VERY bad for bitcoin.
So in every direction, we need bitcoin to be unrestricted.
I can't believe that bitcoiners go around screaming after control of their own currency. Only a certain amount of transactions, the miners need to earn more money.
Right... as if the mining corporations doesn't earn enough.
READ THIS!
http://wallstreettechnologist.com/2015/08/19/bitcoin-xt-vs-core-blocksize-limit-the-schism-that-divides-us-all/
It's funny how everyone claims to have the core principles of bitcoin on his side. The article says xt-people want a visa because they want to pay everything with it.
I would say the other side wants something like visa since they want the fees to grow to a level that we could have used paypal from the start instead bitcoin.
And why should we only raise blocks when the fire burns? You know that takes a while until it is coded and everyone switched.
And with these limits you have NO space at all in case bitcoin adoption makes a huge step. When amazon, for some reason, would start to accept bitcoin then bitcoin would be dead. The user experience would be deadly. All because of these artificial block size limits.
Restrictions... not really what you have in mind when thinking of bitcoin.