Post
Topic
Board Bitcoin Discussion
Re: Fork off
by
VectorChief
on 27/01/2015, 17:17:59 UTC
Growing adoption doesn't mean we need to scale beyond 1MB. Certainly not at this point in time.
Not every coffee purchase needs to be in the blockchain. I doubt bitcoin can support microtransactions anyway, not even with gavin's proposals.
I think many people support the idea of bitcoin as a store of value and want to cut the third party risk of the current monetary system.
Think gold - you buy an ounce, or 1/10ounce. What's the point of paying with gold for a coffee? Only if gold could be sent over the internet....

I understand the other side of things - that it would be nice to have bitcoin supporting even micropayments but lets slow down and think it over first. I mean those changes suggested are still not a final solution to all bitcoin flaws and haven't even touched on more important things like mining centralization. It will make the system even more centralized - there is no doubt about that.

I guess people with the 'Fork it hard' attitude don't hold enough stake or are simply arrogant to the dangers of a hard fork.

Value is a moving target.
The less people use something the less valuable it becomes.

I don't think that off-chain/side-chain stuff is the right approach, it introduces backing. It is divide-and-conquer tactics at its best. Fiat was once backed with gold, you know how that turned out. At some point people will realize: "hmm, if i can buy food with these centralized off-chain coins, why do I need those bitcoins anyway?"

I'm not saying "let's change all the rules", but we need to figure out what the rules are and what the game is. In my recent discussions on the forum I've come to believe that money is a dynamic essence. You need to keep up with the flow in order to gain and even maintain value. If Bitcoin doesn't move it will be replaced.