-ck's response.. close eyes, put fingers in ears and just scream go with segwit.
(facepalm)
1. segwit is not as 'compatible' as promised
2. segwits activation event itself, is not about solving quadratics/malleability scaling or anything else. its about setting up the tier network
3. moving funds to segwit keys after activation has a POTENTIAL to affect quadratics/malleability scaling or anything else.
4. but malicious people will stick with native keypairs and continue to do quadratics/spamming to prevent good utility
5. segwit does not stop/disarm/solve native keypairs. thus 'fix' issues.
6. segwit just disarms innocent people who volunteer to move funds across while letting the network continue doing the same as usual.
7. the 'expected' potential scaling boost of segwit is the same potential scaling of 7tx's on chain of 2009-2017. which still has no guarantee of actual achievability
(facepalm)
1. segwit is not as 'compatible' as promised
2. segwits activation event itself, is not about solving quadratics/malleability scaling or anything else. its about setting up the tier network
3. moving funds to segwit keys after activation has a POTENTIAL to affect quadratics/malleability scaling or anything else.
4. but malicious people will stick with native keypairs and continue to do quadratics/spamming to prevent good utility
5. segwit does not stop/disarm/solve native keypairs. thus 'fix' issues.
6. segwit just disarms innocent people who volunteer to move funds across while letting the network continue doing the same as usual.
7. the 'expected' potential scaling boost of segwit is the same potential scaling of 7tx's on chain of 2009-2017. which still has no guarantee of actual achievability
Segwit is perfectly fine.
You guys are the ones who block bitcoin's development. Bigger blocks also don't solve anything. If 1mb blocks get spammed and filled, 8mb blocks will also share the same fate in the future. What then, 16mb blocks? I don't see BU as a development at all.
Jihan either will accept Segwit or he will lose his job as a business owner, one way or another he will come around and you paid shills... You are pathetic.
lol
1. you using the buzzwords/script words "jihan" "paid shill" is foolish.
2. segwit does nothing to stop native tx's filling the baseblock which prevents segwit tx's sitting in the baseblock to put their feet up in the weight area.
a real proposal is to not allow ANYONE have 20% of the block area for a single tx.
a real proposal is to bring back a NEW and DIFFERENT priority formulae that reward infrequent/lean tx users with low fees. and punish frequent bloated users with high fee's. thus not forcing everyone into LN. but making it super expensive for the spammers (spending every block with loaded tx's). into wasting their funds faster or using LN if their frequent/loaded tx's are genuine.
EG reduce the 'large tx' to below 10% of block
EG reduce the sigops to below 20% of block
EG new priority formulae
here is one example - not perfect. but think about it
imagine that we decided its acceptable that people should have a way to get priority if they have a lean tx and signal that they only want to spend funds once a day. (reasonable expectation)
where if they want to spend more often costs rise, if they want bloated tx, costs rise..
which then allows those that just pay their rent once a month or buys groceries every couple days to be ok using onchain bitcoin.. and where the costs of trying to spam the network (every block) becomes expensive where by they would be better off using LN. (for things like faucet raiding/day trading every 1-10 minutes)
so lets think about a priority fee thats not about rich vs poor(like the old one was) but about reducing respend spam and bloat.
lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.(thats what CLTV does)
and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae with was more about the value of the tx
as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain ($0.01).
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more ($0.44)
if you want to be a spammer spending every block. you pay the price($1.44)
and if you want to be a total ass-hat and be both bloated and respending EVERY BLOCK you pay the ultimate price($63.72)
note this is not perfect. but think about it
imagine that we decided its acceptable that people should have a way to get priority if they have a lean tx and signal that they only want to spend funds once a day. (reasonable expectation)
where if they want to spend more often costs rise, if they want bloated tx, costs rise..
which then allows those that just pay their rent once a month or buys groceries every couple days to be ok using onchain bitcoin.. and where the costs of trying to spam the network (every block) becomes expensive where by they would be better off using LN. (for things like faucet raiding/day trading every 1-10 minutes)
so lets think about a priority fee thats not about rich vs poor(like the old one was) but about reducing respend spam and bloat.
lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.(thats what CLTV does)
and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae with was more about the value of the tx
as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain ($0.01).
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more ($0.44)
if you want to be a spammer spending every block. you pay the price($1.44)
and if you want to be a total ass-hat and be both bloated and respending EVERY BLOCK you pay the ultimate price($63.72)
note this is not perfect. but think about it