Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

So what is the general consensus on what the outcome of the scaling conference this weekend might be?

Blockstream has conceded and it's going to 8mb blocks:

"Another idea that has been gathering support is Blockstream CEO and Hashcash inventor Dr. Adam Back's 2-4-8 quick fix, which would incrementally increase to the limit to 8 megabytes in three steps over four years time."

So small blockers are officially dead. Adam Back is a part of Blockstream.

It is my estimation that Bitcoin needs around 10MB block size to remove the glass ceiling on price (8MB is close enough), so next stop moon:
https://bitcointalk.org/index.php?topic=1271254.msg13115160#msg13115160

Adam floated that 2-4-8 proposal a few months ago. Sorry, but I can't believe that it is a sincere proposal.

AFAIK, that proposal has no implementation yet, not even a BIP. (There are only two proposals with implementations: Gavin's BIP101 and my BIP99½ Grin

).

I strongly suspect that Adam does not have any intention of implementing that plan, certainly not before the network gets saturated. I believe that he made that proposal only to pretend that he is a reasonable guy, and to steal support from BIP101.

If the 2-4-8 plan were implemented in time, there would be no "fee market". Then all those small-blockians who are impatient to see the fee market in action would be protesting loudly. Why aren't they? Perhaps because they too sense that Adam does not really mean it?

Writing the code isn't the problem. If we get well into 2016 at the status quo, I'll start to entertain your insinuations. Until then, I am assuming good faith and evaluating proposals on their merits.