Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Topic OP
Really not understanding the Bitcoin XT thing...
by
MoonShadow
on 27/08/2015, 07:41:57 UTC
⭐ Merited by ABCbits (1)
I know I have been out of the loop for a while, but I've started to hear about this Bitcoin versus Bitcoin XT "code fork" from semi-mainstream news sources.  I sounds like FUD, so I have checked out the Bitcoin XT website and searched a bit around this forum for details.  One thing that I don't understand is why does Bitcoin XT have the other features, such as auto-dropping of TOR nodes?  And can the Bitcoin XT node be forced into the 'quiet' node format?  From what I have found out, it looks like it leaks the node's IP address while it's supposed to be hidden.

As for the big block mod.  I guess I just don't see the value in it. jumping to 8megs on start, then auto-adjusting for transaction volumes would undermine the transaction fee market that is supposed to develop to priortize transactions.  Also, where are these overlay networks that were supposed to absorb the majority of the lower security transaction volume?  This bitcoin network proper was never supposed to be how Joe Average transacted in the currency, Joe should be using a light client on an overlay network; like Electrum was developing or M-Pesa style light client networks on smartphones.  Why are we still doing the majority of retail business using full clients anyway?

Someone with more intimate knowledge is welcome to correct me on the technical details, but please don't come to me with complaints about how the fee market would never have worked or that Bitcoin proper actually needs to scale to Visa levels; I've been here too long for those arguments to still have any merit.