Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)

Look Peter it's quite simple, either you accept that for the block size to increase consensus needs to be reach by all actors of the Bitcoin market or you continue pretending that the demand of consumers & merchants for lower cost transactions will move the needle which it won't in that case if they "fork" it will be in their own cheap little altcoin.

You love going around in circles, don't you?

As knight22 already explained a few times, there's no such thing as perfect consensus.

Do you refuse to accept the possibility that an economic majority will have their way and increase the blocksize even though you don't agree?

The economic majority is the one most interested in keeping the block size small.

The XT #REKT event should have made that clear.

Consumers and merchants are never going to be the economic majority in Bitcoin

Not by themselves, perhaps, but throw a few others into the mix and the picture starts to look a little different.

Larger (than 1MB) blocks will naturally provide benefit to:

Smaller blocks will naturally provide benefit to:

Pretty sure that first group will agree on a proposal before too long. We'll see if you're right about them not being an economic majority.

The "picture" might look different because your fabricate it to fit your twisted view of how you believe it should work.

Here's how the decision process unfolds in reality.

Tier 1
Network peers (nodes)
Bitcoin holders

Tier 2
Miners

Tier 3
Exchanges

Tier 4
Everyone else (merchants, payment processors, consumers, redditards, Fidelity & other banking parasites)

TLDR; if you don't have the support of the network peers and the "bitcoin rich list" your fork goes the way of XT which goes the way of Stannis at Winterfell -> #REKT