Ninjastic
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Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
bambou
on 30/08/2015, 22:50:20 UTC
Quote from: VeritasSapere on August 30, 2015, 10:46:15 PM
Quote from: VeritasSapere on August 30, 2015, 10:38:27 PM
Quote from: brg444 on August 30, 2015, 10:35:13 PM
Quote from: VeritasSapere on August 30, 2015, 10:31:29 PM
Quote from: bambou on August 30, 2015, 10:20:25 PM
I feel this whole blocksize drama is just what it is: drama. It aint gonna happen.
If they fork, the old/original version will come out as the one with the most value (as in longest valid chain, and as opposed to spammed/centralized/etc chain).

Probably there will be some adjustment time considering difficulty and the hashrate being divised, but Bitcoin 'original' can only triumph in the end.
Plus we get to loose all them ph0rking n00bs with their beloved companies, government and frappucinos.. ergo much much value Smiley
I am not convinced by your argument. It would be more convincing if you tried to rebuttal the arguments that have already been presented.
The problem is you write too much. Maybe you'd like to present a cogent and concise argumentation of why BIP101 is necessary?
I already have, and you have so far failed to respond to my counter argument of your rebuttal.

https://bitcointalk.org/index.php?topic=1164464.msg12270744#msg12270744
However even though this dillema in Bitcoin can not be over simplified, You can not come up with one liners that adequatly explain all of the relavant factors involved with this issue. However I can present you with an extremely simplfied argument since you did request it, If you would like to see this in context I suggest you read the whole article I have written on this subject.

To put it simply, if we do not increase the block size it will be more expensive and less people will be able to use it, that is to transact on the main chain directly.

However if we increase the block size then it will be less expensive and more people will be able to use it. Even if full nodes will only be able to be hosted on powerful computers with high bandwidth connections. Considering that these would be the most likely outcomes with increased adoption. I can argue that increasing the blocksize is the most decentralized option considering the alternative.

https://bitcointalk.org/index.php?topic=1164464.0


You are right, just go ahead, I fully agree with you. The bold part convinced me so much. Go infinite ZOMG Blockchain!

But don't mind if I (and probably a lot more people than you think, and with a lot more bitcoins) wait on the side line original one and only truly decentralized longest valid blockchain... Grin