Quote from: BombaUcigasa on August 18, 2015, 08:59:35 AM

Quote from: turtlehurricane on August 17, 2015, 08:39:07 AM

1) Bitcoin block rewards will eventually become infinitesimal, at that point transaction fees will be the only rewards miners get. Right now transaction fees are around 0.1-0.5 BTC per block, which is nowhere near enough funding to secure the network by itself. We need transaction fees to go up, and the only thing that will force them up is the blocksize limit. Increasing block size might cause fundamental damage to Bitcoin due to this.

False! Bigger blocks = more transactions = more fees!

False! Bigger blocks = more transactions with very low or no fees = less fees!

Quote from: BombaUcigasa on August 18, 2015, 08:59:35 AM

Quote from: turtlehurricane on August 17, 2015, 08:39:07 AM

2) Currently average block size is less than 0.4 mb now that the stress test bullsh

That means on average, it also means that at some times during the day, blocks are constantly full and the queue gets long, exactly when people need it the most. If you want the blocks to be full, then you can lengthen the queue to weeks (just like regular banks). You don't want to build a highway that needs to be 100% filled with stationary cars before you decide to put more lanes in it.

If you pay a decent fee, you won't have issues even when blocks are constantly full. Only dust and spam transactions are hindered. You want to quickly build more lanes on the highway even if there is a significant risk that the bridge over the big river collapses under the weight.

Quote from: BombaUcigasa on August 18, 2015, 08:59:35 AM

Quote from: turtlehurricane on August 17, 2015, 08:39:07 AM

3) Once we hit the 1 mb limit free and nearly no fee transactions will be forced off chain. There is TONS of dust, spam, and gambling that can be done off chain. Over half of all Bitcoin transactions right now are basically dusty junk. This will make plenty of room for legitimate transactions.

False! Free transactions have a pre-allocated spot in each block. They will still be allowed under normal settings, even with high fees.

False! That's because the miners are happy with their current incentives, but that will change. Anyway, many stupid dust transactions actually pay a very small fee, and they will only make room for legitimate transactions after fees rise a bit.

Quote from: BombaUcigasa on August 18, 2015, 08:59:35 AM

Quote from: turtlehurricane on August 17, 2015, 08:39:07 AM

4) Once almost all the junk is forced off chain the rise in fees will be very gradual, and it will take a long time for the fees to become an issue for people. In any case the blockchain will function perfectly fine regardless of transaction data volume, fees will simply rise.

False! If the blocks are full, fees grow exponentially to obscene levels, such as "I just paid 1 BTC fee to send my other BTC to an exchange to dump this shit, because everyone else paid 1 BTC fee!".

False! A fee market will form and noone will be stupid enough to pay 1 BTC fee. This market will reach a price equilibrium at slightly higher fees than now (an equilibrium for which at least the stupid dust transactions are infeasible). And for the long term, I don't think people would want to run full nodes that will verify and store the transactions for all the guys paying for cofee directly with bitcoin.

Quote from: BombaUcigasa on August 18, 2015, 08:59:35 AM

Quote from: turtlehurricane on August 17, 2015, 08:39:07 AM

6) We need to maintain a group of scientists which reach a consensus, not just centralize Bitcoin under a couple of developers.

Too many chefs, not enough cooks. They each think that their idea is the best and other ideas are shit. What if they never reach consensus? This shit is being discussed for over 2 years, the actual block usage increased steadily, and now needs to magically be capped at some random number, with no plan to plan for an increase (yes, there is no plan for a plan, they just push the decision for later).

It also amazes me that NOBODY is capable of understanding the social, economical, technological, networking and computational aspects of this change, as a whole and everyone conveniently ignores some aspects to push his propaganda, such as this example list of false reasons to not prepare for an increase in the block size.

That list contains completely true reasons that many people, including me, agree with. I don't care if they never reach consensus. We need consensus to perform this kind of hard forks, I see everything else as an attack on the network.

The way I see things, the gullible masses (mainly pissed-off reddit people) lead by Gavin and Mike are preparing for a massive attack on the bitcoin network. Save it by destroying it!