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.

we're talking about a worldwide "organization" not all of whom are paying attention like you. believe it or not. the most striking example is all the miners who keep hitting 750KB. i totally hear you that if >75% is achieved sooner than Jan, ideally we could flip the switch. first off, that might not happen and you have to accept the fact that it just takes some miners more time than others for whatever reason. second, miners aren't the only ones that have to change their software. exchanges and merchants will have to update as well. so there are alot of ppl involved and they need a set, reliable deadline as opposed to a fuzzy, maybe tomorrow might happen, type switch.