Post
Topic
Board Bitcoin Discussion
Re: Have you ever read read the "Bitcoin Academy" from Bitcoin.com ? A real trash
by
HeRetiK
on 01/04/2018, 20:48:54 UTC
No, I do indeed mean that you can't have both big and small blocks.

though i think you should really do some research on the matter, you can have small blocks and big blocks
for instance. segwit has (though they hid it with their new "serialised" and "weight" buzzwords) do have both small and big blocks
for legacy transactions. they are limited to 1mb of blockspace. but segwit transactions have upto 4mb of blockspace..

Incorrect. While SegWit transactions are "weighted" differently than legacy transactions, the overall effective maximum filesize is 4MB. If most transactions are legacy transactions, the maximum blocksize is more towards 1MB. If most transactions are SegWit transactions, the maximum blocksize is more towards 4MB. It's still the same block though. For all intends and purposes, SegWit was a blocksize increase and that is effectively an increase to up to 4MB. No such thing as a differentiation between small legacy or large SegWit blocks.


but the funny part was about the politics. that no 'other team' ever proposed "gigabyte blocks" which was the fear campaign of core members.
the compromise was where legacy AND segwit could sit side by side with 2-4mb blocks.. something that the network could handle (even core admitted 8mb was deemed safe and prudent)

Legacy and SegWit transactions are sitting side by side resulting in 1MB - 4MB blocks.


its not just opening a channel.. every  payment in LN is a handshake. its also requires each participant in a route to agree to giving away an amount of funds to hop payments. all requiring their signature.

it is permissioned. think of it in simple terms
instead of a simple cash payment to pay a milkman by leaving a bank note inside a empty milk bottle for when the milkman does his deliveries. you have to sign a contract and when you make a payment the milkman has to knock at your door and hope your home for you to both sign cheques for who owes what in a joint bank account you both set up.. its then up to one of you to decide when to empty the bank account by cashing out the cheques.

its not as simple as just handing a random person cash. its really worth you doing some research

There's this thing called computers and software that handle the implementation details of such matters.

TCP requires handshakes. Should Bitcoin stop using TCP as one of its base layers?


so lets word it this way. if bitcoin loses tomuch of its original purpose(take scarcity: the idea of adding millisats which then expands sharable units to then make sharing units of bitcoin less scarce)

Serious question, what lead you to the conclusion that increased fungibility would effectively increase Bitcoin's supply? That's some Zenon level shit right here.

The existence of gold dust doesn't make gold bars any less scarce or valuable. In some places gold dust is used for overly fancy dishes and cocktails. You can literally shit gold, yet its value persists.

firstly. splitting the units of measure has nothing to do with fungibility.. fungibility and scarcity are 2 separate things

Exactly.

Adding smaller denominations is an increase of fungibility and not a decline of scarcity, like your statement suggests.


secondly. if there were only 21mill units to share there would be true rarity/scarcity.. but because of splitting up the units, anyone can afford a small amount. so not many are actually buying whole bitcoins.

If you could only buy / send / trade whole Bitcoins you couldn't use it as a viable means of exchange.

Why would you even require people to buy whole bitcoins?


.. but take gold. with only ~175,000 tonnes.. do you see 170,000 richguys saying they each own 1 tonne of gold.  OR do you see BILLIONS of people who can claim that they own gold.. think about it

What are you trying to say? There are both a handful of entities owning tonnes of gold and billions of people owning small portions of gold. Lots of people owning small portions of an asset doesn't make the asset worth less than if only few people own large portions of it. Quite the opposite. The more people own something, the better its liquidity, the healthier its market.