Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Paashaas
on 29/11/2016, 03:32:06 UTC
id like to remind everyone that

SegWit is great for Bitcoin. It brings more transaction throughput, fixes malleability, defrags the UTXO set, makes hardware wallets more secure and most importantly, it enables Lightning which will bring instant low cost Bitcoin transactions to the world. The team at BTCC have been working hard at making their exchange and mining pool services SegWit ready, and everyone else should do the same.

You are correct but people are forgetting one major thing; Bitcoin cannot go mainstream with just bigger blocks. You need something like 1gig blocks to make a shot for it, the internet cant even handle that. Hardforking from 1mb all the way up to 1gig is just a no-go zone, Lightning will fulfill that job because you really want to have high capacity when ''monkey see monkey do'' situation arrives.

This is correct, but: why stop natural growth at 1 MB? It's not like we'll be at 1 MB for 10 years and then BOOOOM, we scale to global level overnight.


There is nothing wrong with bigger blocks, but we need extra layers to make Bitcoin mainstream. Increasing blocks will be much smoother when the community, dev, miners are on the same side.