Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
iCEBREAKER
on 14/07/2015, 22:34:46 UTC
You've conveniently forgot this:

Care to make a wager, iCEBREAKER?  1 BTC that the longest proof-of-work chain contains a block larger than 1 MB by this time next year (10-Jul-2016).
If you lose, I want real Bitcoin.  If you win, expect to be paid in doublespent Gavincoins.   Cool

Did you just agree to the bet?  I can't tell.  

We'd both deposit 1 BTC to a multisig address (3rd key held by neutral party).  If the chain forks, the winner would automatically have coins spendable on both sides.  

Did you agree?

I've conveniently forgotten nothing.  Your poor reading comprehension is pitiful, so I will charitably aid you by bolding the parts you most need to sound out until comprehension sets in.

1MB blocks may become a harmful constraint by this time next year, given some black swan for fiat or rapid deployment of sidechain/Lightning.  But we're are not even on course to begin getting there yet, given the unwelcome distraction of the Gavinista insurgency inciting the get-rich-quick XT mob.  TX fees are still orders of magnitude below their cost in electricity, etc., demonstrating fee pressure insufficient for develop mature markets.


I suspect we agree that should 1MB blocks become an undeniably urgent concern (EG, if we see actual congestion resulting in appropriate fees no longer prioritizing their tx) the controversy will rapidly dissipate and be replaced by emergent rough consensus.

There's also the possibility we do get a technically and politically feasible velvet divorce, in which case we can forget all this nasty controversy about the "best" block size and start a new nasty controversy about which is the "real" Bitcoin.