The True Cost of Bitcoin Transactions

Post by nadaviv » Sun, Feb 12, 2017, 7:32 AM UTC

pmorici wrote: post #10

knocte wrote: post #5

Earlier quoted context omitted.

That's really baffling, I perceived quite the opposite.

Based on what? Can you name a single dev that expresses support for bigger blocks that hasn't been systematically ridiculed and excluded from Bitcoin Core development by the small block crowd? It isn't even possible to get an accurate perception of Bitcoin Unlimited support from reading the traditional Bitcoin discussion forums like /r/bitcoin because there is ZERO tolerance for discussion of bigger blocks unless it…

Post by hnolable » Sun, Feb 12, 2017, 7:34 AM UTC

colordrops wrote: post #41

hnolable wrote: post #4

If Eric was serious about this he would have targeted this post at chinese miners who are stalling on activating segwit (which is a 2x blocksize increase and the foundation for instant & nearly free txs via the Lightning Network).

The Lightning Network is not bitcoin. The people who are fighting against block size increase are the same people pushing segwit. While there is nothing inherently wrong with segwit and the Lightning Network, they are ignoring the most important improvement to Bitcoin itself, which would be a pure block size increase.

Post by stale2002 » Sun, Feb 12, 2017, 7:35 AM UTC

hnolable wrote: post #29

mhluongo wrote: post #25

Earlier quoted context omitted.

Aware of how Segwit activation works, thanks. I'm speaking to the miners' motivations. They've been asking for a simple blocksize increase for quite some time. See the HK agreement if you don't get the politics.

Yes that's the issue here, the miners are playing politics by trying to flex their power. But no one is willing to play petty games. There's an obvious win for everyone sitting on the table ready to go. Political games will be ignored.

Post by nadaviv » Sun, Feb 12, 2017, 7:37 AM UTC

pmorici wrote: post #12

hnolable wrote: post #4

If Eric was serious about this he would have targeted this post at chinese miners who are stalling on activating segwit (which is a 2x blocksize increase and the foundation for instant & nearly free txs via the Lightning Network).

Segwit is not a 2x block size increase. That is marketing spin that Blockstream started spreading to try and fool people into supporting their agenda w/o having to compromise and raise the block size. Segwit does _not_ increase the block size in the sense that people are discussing and in some cases it might even make the transaction throughput much worse than the current system. The whole reason people want bigger b…

Post by hnolable » Sun, Feb 12, 2017, 7:39 AM UTC

mhluongo wrote: post #43

hnolable wrote: post #29

Earlier quoted context omitted.

Yes that's the issue here, the miners are playing politics by trying to flex their power. But no one is willing to play petty games. There's an obvious win for everyone sitting on the table ready to go. Political games will be ignored.

The Core devs signed an agreement with these miners a year ago in Hong Kong, and the agreement was broken. Here are the consequences. Clearly, politics won't be ignored- or Segwit would be on track for activation.