Live data from Hacker News

Did Bitcoin just prove it can't scale?

news.ycombinator.com

441–450 of 501 posts

Re: Did Bitcoin just prove it can't scale?

#441
post #138

Off Topic: Is anyone else creeped out by having an open ledger? As soon as I transact with someone or an entity, they now have access to view my wallet's holding/transactions via pub key. I don't know how I feel about Overstock having that information.

You never use the same address twice. scatter received coins over other addresses.

The fees to move the coins to another wallet just to pay for coffee would be 4x the coffee.

Re: Did Bitcoin just prove it can't scale?

#442

Earlier quoted context omitted.

It's 0.001% over-inflated? So it reaches the 2020 halving earlier, and wins then too.

In the ~4 months since its creation, 115,975 Bcash tokens were mined ahead of schedule.

It is about 60 days ahead at most and it doesn't matter because the hard cap of 21 million coins is till the same. This has gotta be the dumbest argument I've ever heard.

Re: Did Bitcoin just prove it can't scale?

#443

Others here are touching on Bitcoin being like the "1.0" of cryptocurrency, but it's actually a lot more than that. In the public eye, it's a symbol of what cryptocurrencies can be. You're suggesting Bitcoin just proved it can't scale, but it actually just proved it did--just not with transaction volume. The network continued to process transactions averaging one block every ten minutes exactly as it was built to do,…

The size of blocks is not core to the algorithm of Bitcoin though. What would you say to the person trying to send $30 only to have $20 of it eaten up in fees? Come back later when you can afford to use Bitcoin?

tbh, the smaller amount transacted, the less decentralization is necessary IMO. This is why people will tell you to use other, more centralized, less secure cryptos.

Re: Did Bitcoin just prove it can't scale?

#444

Earlier quoted context omitted.

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…

> If proof of stake proves itself to actually work, Bitcoin will adopt it. I wouldn't hold my breath for that. Bitcoin still is having a holy war about increasing the blocksize. One side effect of this whole deal is it shows that it is incredibly hard, if not possible, to change a decentralized system. By its very design, it will be all but impossible to make any breaking changes to bitcoin at this point. > Lightning…

Complete vaporware? Uhm, no... https://www.coindesk.com/lightning-last-test-shows-bitcoin-s...

There have even been successful atomic BitcoinLitecoin cross-chain transactions with Lightning last month.

Re: Did Bitcoin just prove it can't scale?

#446
post #336

Earlier quoted context omitted.

Dogecoin has much cheaper fees than Bcash and its block confirmation target is around 1 minute -- roughly an order of magnitude cheaper and faster than Bcash.

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.

How strange it is that your comment coincides with a mass-downvoting of my comments.

Re: Did Bitcoin just prove it can't scale?

#447
post #353

Earlier quoted context omitted.

Don't feign ignorance. You know exactly what I'm talking about. :)

For those who don't understand what this is about: one of the tactics that trolls like grubles use is referring to Bitcoin Cash as Bcash as a form of derision. Bitcoin Cash does not call itself Bcash and the term Bcash is considered derogatory.

It's truly interesting how using an abbreviation of an open source project's name brings out the venomous commentary like yours.

Re: Did Bitcoin just prove it can't scale?

#448

Earlier quoted context omitted.

In the ~4 months since its creation, 115,975 Bcash tokens were mined ahead of schedule.

It is about 60 days ahead at most and it doesn't matter because the hard cap of 21 million coins is till the same. This has gotta be the dumbest argument I've ever heard.

The hard cap is the same until it isn't -- when Bcash has to hard fork to infinite inflation in order to incentivize mining because fees won't supplant the mining reward.

Re: Did Bitcoin just prove it can't scale?

#450

Earlier quoted context omitted.

That doesn't matter if you only use it for transactions. Step in, transact, step out.

Who is going to pay you for your Dogecoin if no one wants to hold them?

Who's going to work for USD if no one wants to hold them?
Post reply on HN