Earlier quoted context omitted.
Sigh. Increasing the block size to 2MB nor 8MB for that matter will not make a centralized coin. Segwit (besides being a crappy implementation) is by far not enough scaling. That you blame Jihan and Roger is typical stupid propaganda which doesn't belong here.
According to actual research here: http://www.tik.ee.ethz.ch/file/49318d3f56c1d525aabf7fda78b23... Each additional kb results in an additional 80ms of delay until the majority learns about a block. Increasing to 8mb means you’re adding a 9min delay in propagation. That is pretty much guaranteed centralization. Perhaps you have some research you can point me to that demonstrates otherwise?
Did Bitcoin just prove it can't scale?
411–420 of 501 posts
Re: Did Bitcoin just prove it can't scale?
#412Earlier quoted context omitted.
I agree, bitcoin is not good for micropayments. But that's not the only use case that matters.
it's one of the only usecase that matters if you're talking about using it as a general-use currency...
Re: Did Bitcoin just prove it can't scale?
#413Earlier quoted context omitted.
According to actual research here: http://www.tik.ee.ethz.ch/file/49318d3f56c1d525aabf7fda78b23... Each additional kb results in an additional 80ms of delay until the majority learns about a block. Increasing to 8mb means you’re adding a 9min delay in propagation. That is pretty much guaranteed centralization. Perhaps you have some research you can point me to that demonstrates otherwise?
Is there any data available on how long BCH blocks take to propagate? It's testing big blocks out in the real world so we can see how much delay that introduces and whether that leads to a significant increase in centralisation.
Re: Did Bitcoin just prove it can't scale?
#414Earlier quoted context omitted.
According to actual research here: http://www.tik.ee.ethz.ch/file/49318d3f56c1d525aabf7fda78b23... Each additional kb results in an additional 80ms of delay until the majority learns about a block. Increasing to 8mb means you’re adding a 9min delay in propagation. That is pretty much guaranteed centralization. Perhaps you have some research you can point me to that demonstrates otherwise?
Which does not take into account xthin/compact blocks which cuts down propagation time a lot. In the future graphene will further reduce the time necessary. How you can conclude a 9min propagation delay for 8MB blocks is beyond me as miners are basically directly connected to each other. This is the only thing that matters decentralization wise. Bitcoin Unlimited are successfully testing 1GB blocks: https://news.bitc…
Re: Did Bitcoin just prove it can't scale?
#415Re: Did Bitcoin just prove it can't scale?
#416Earlier quoted context omitted.
A note to readers: "Bcash" is a derogary term used by Core supporters to undermine and discredit Bitcoin Cash. Always be mindful when someone uses it.
“Bitcoin cash” is a name chosen to confuse newcomers and attempt to steal the bitcoin brand. The CEO of bcash refers to Bitcoin as “SegwitCoin” and their official /r/btc subreddit regularly claims to be the real bitcoin. Bcash is an appropriate name for the altcoin to eliminate confusion.
Note that there is no CEO and the very same people who refer to Bitcoin Cash as Bcash refer to Ethereum Classic, Bitcoin Gold and others by their proper name...
Re: Did Bitcoin just prove it can't scale?
#417Re: Did Bitcoin just prove it can't scale?
#418Earlier quoted context omitted.
Bitcoin is a lot of things, and many of them interesting, but suggesting that ~4 t/s is impressive or "scaling" is an insult to kids in high school writing rails apps that can do 100x the volume. We already know at least 2 obvious ways to improve the transaction flow rate of bitcoin in trustless ways, and many others are being proposed that do not also create energy arms races. Please don't redefine success.
If proof of stake proves itself to actually work, Bitcoin will adopt it. Migrating a 200 billion dollar network to an untested PoW proposal would be irresponsible. Arbitrarily increasing blocksize without addressing propagation delay and centralization impacts is also irresponsible. Bitcoin has been tirelessly working on the scaling problem in a responsible way. SegWit will allow up to 12t/s. Mimble Wimble and Schnor…
Re: Did Bitcoin just prove it can't scale?
#419Re: Did Bitcoin just prove it can't scale?
#420Earlier quoted context omitted.
“Bitcoin cash” is a name chosen to confuse newcomers and attempt to steal the bitcoin brand. The CEO of bcash refers to Bitcoin as “SegwitCoin” and their official /r/btc subreddit regularly claims to be the real bitcoin. Bcash is an appropriate name for the altcoin to eliminate confusion.
This is the kind of propaganda Core is pushing. Note that there is no CEO and the very same people who refer to Bitcoin Cash as Bcash refer to Ethereum Classic, Bitcoin Gold and others by their proper name...