Post
Topic
Board Bitcoin Discussion
Re: Hard Fork - August 2
by
HabBear
on 10/07/2017, 05:45:04 UTC
LN would make transactions instant with the lowest fee. With bigger blocks, you order a coffee, drink, wait for the transaction to get confirmed, pay. With LN, you order a coffee, confirmed, pay, and drink. Just an example of not online, but how offline merchant payments would become a lot more feasible.
Forgive me here, LN? What's LN? EDIT: Lightning Network, yea?

Which wallet do you use? Around 145 GB to synchronize blockchain. Obviously if bitcoin gets adopted on a large scale, the above figure wouldn't be limited to three digits. Increased block size, on chain transactions would get confirmed quickly with less congestion, but the network is always growing. The purpose of bitcoin is instant worldwide transaction with lowest fee, a side solution needs to be integrated into the network for this, that's what I meant by bigger block size isn't enough.
A well known online wallet, a lessor known online wallet, and a hardware wallet.

Are you also saying that the reason increased block sizes isn't enough is due to the growing size of blockchain history? Valid point, but then we should all agree that one doesn't need to have the entire blockchain downloaded, as long as it always can be downloaded from bitcoin.org.

Segwit 2 MB, Segwit2x 4-8 MB. Right now remove spam dust transactions and 2 MB is more than enough for transactions to get confirmed, implement side options, bitcoin users would have the freedom to choose what method of transaction they want to use. Fork the network, users don't have a choice. It's as simple as that.
When people say side options I always think of alt coins but I realize that's not it. You don't have any concerns about Segwit? What's the implication of removing the witness?

And yeah, fork it, give it a good rogering!