Post
Topic
Board Bitcoin Discussion
Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
VeritasSapere
on 28/12/2015, 21:33:28 UTC
BU can even be configured to mimic the behavior of BIP100, BIP101, BIP102, BIP103 or BIP202. Or it can be setup to behave exactly the same as a Core node as well, the choice is yours, in different words it is up to the free market. Considering all of the possible options of who decides I would argue that this is the best solution.
It's not. It's up to the miners.

Stop promoting this misleading idea.
Consensus is an emergent property which flows from the will of the economic majority. Proof of work is the best way to measure this consensus. The pools act as proxy for the miners, pools behave in a similar way to representatives within a representative democracy. Then in turn the miners act as a proxy for the economic majority. Since the miners are incentivized to follow the economic majority. In effect the economic majority rules Bitcoin, in other words the market rules Bitcoin. Bitcoin relies on the economic self-interest of the masses to govern consensus.
Nodes decide the code they run and if there was consensus amongst these peers that the block size should be increased then it would.
For now, the consensus emerging from the economic majority is that the 1MB limit won't move.
You are actually just confirming what I have been saying, I suppose we can agree on this point now then. The economic majority does not want to increase the blocksize limit now. I suspect that they will want to increase it soon however, Bitcoin Unlimited is on the rise. Smiley