Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
tvbcof
on 14/07/2015, 06:54:03 UTC
I support Satoshi's ideas.

I have never heard that Satoshi propose exponential growth of block. (doubling size every 2 years)

that's a compromise Gavin did for you folk, Satoshi didn't support a limit at all.

The block size limit is a short term hack.  Someday we might get beyond such a limit, but it could be quite a while.  BIP100 looks promising though.

"a short term hack" is how I see it, what concerns me is developers appear to be leveraging it to push through other hacks. (hacking the hack - postponing indefinably until such time as other hard fork changes could be bundled in with this one.)

BIP100 is good in that it removes the hard fork limit, my reservations though are that it does nothing to erode the centralized control system that has evolved. I prefer Bib 101 as it implies some central gate keepers need to eat humble pie, however nether are my first choice.  

At this stage I'd like to start seeing more decentralized development, the notion that Bitcoin is resilient in that if the protocol is modified the ideals will never be eroded because it is open source and can be forked to keep the original intent appears to only be valid so long as we share the same motives as the centralized development team.

The very idea of forking that was originally proposed to protect Bitcoin Values was vehemently opposed by the centralized developers who expressed disdain that they were not consulted and their process for seeking permission to propose change was not adhere too, even going so far as calling the idea of forking to remove the hard limit a threat to the very success of bitcoin.

I think there is a distortion of perception and lack of empathy all round. ultimately it is the people who put economic energy into the idea that make it viable, and while developers are important, they are not the gods who conduct this experiment, its the people who put in their economic energy.


Amen. They can cry all they want; the economic majority will prevail.

Suit yourself.  A subordinate chain ecosystem needs a reserve or balancing currency, but that doesn't need to be Bitcoin.  Go ahead and get everyone buying coffee and a grand total of 5 copies of the blockchain worldwide (assuming that the 'economic majority' will obtain the best coders money can buy) and we'll have no choice but to use something else.  To me that will be at the very worst a mixed blessing because Bitcoin itself has some serious inherent design deficiencies which makes it questionable about whether it really could be distributed and defensible over the long term even at the current 1MB setting.

I would still rather give Bitcoin a shot but every time one of you guys open your mouths it takes something away from my even wanting to.  I've still got a decent number of BTC but I'm pretty confident that I will have a window of opportunity to dump them off on imbeciles who think that making Bitcoin be the 'one-size-fits-all' has any long term hope at being anything worthwhile.