Re: Gold collapsing. Bitcoin UP.

this should work. nice and simple and pleases Chinese miners w/o giving miners in general any votes:

https://www.reddit.com/r/Bitcoin/comments/39ziy6/eli5_what_will_happen_if_there_is_a_hard_fork/cs7xe9o

If 75% of hashing power is producing up-version blocks

AND after some brave miner decides to actually produce a >1MB block.

8MB max block size (chinese miners were unhappy with 20 for not-entirely-clear reasons)
Earliest fork date 11 Jan 2016 (miners and others want sooner rather than later)
Activation when 750 of last 1,000 blocks are up-version (version 0x20000004 to be compatible with sipa's new versioning bits scheme)
2 week 'grace period' after 75% threshold reached before first >1MB block allowed to be mined
8MB cap doubles every two years (so 16MB in 2018, etc: unless there is a soft fork before then because 16MB is too much)

Not sure why limiting the date is necessary. I feel like we should be able to pull this off sooner, especially if we are backed into a corner by some kind of big rally.

i agree but miners need time to switch over and indicate so with the versioning.

Sure. But doesn't the 75% imply enough time?

https://www.youtube.com/watch?v=nuHfVn_cfHU

huh? he's going to release the code probably within the week. it'll probably take 6 mo for the miners to implement to get to the 75% level as indicated by the versioning of the blocks they will be releasing by that time.

But this code will include a rule that even if we wanted to or are able to get it all deployed faster, it still cannot be activated. I mean how difficult is installing new software anyway? Took me all of 5 minutes to upgrade to XT. I understand it may be more difficult for a larger organization... but 6 months? Really? If we have a huge rally and the network starts you choke you better believe these people will be capable of rolling out the upgrade much more quickly.