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Showing 9 of 9 results by warboat
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Topic
Board Development & Technical Discussion
Re: Why not increase the block size?
by
warboat
on 02/11/2018, 14:08:24 UTC

With these trade-off :
1. Higher cost to run full-nodes
2. Leads to less full-nodes


You scale Bitcoin to cater for users. You don't scale Bitcoin to cater for full nodes. If full nodes cannot handle the UTXO sets, then too bad, don't hold back a world scale paradigm just to please the minority.
Post
Topic
Board Development & Technical Discussion
Re: Why not increase the block size?
by
warboat
on 02/11/2018, 13:54:54 UTC
here, read this report from the recent BCH stress test.
https://stresstestbitcoin.cash/assets/reports/taste_test_report.pdf
they got as much as 73,000 TX into 1 block.
hit peak rates of 125tx/s.
This is Bitcoin scaling.....TODAY....NOW
Post
Topic
Board Development & Technical Discussion
Re: Why not increase the block size?
by
warboat
on 02/11/2018, 09:56:45 UTC
This is serious. Convince me please.

Because it will not have consensus.

Because it will cause a chain-split again.

Because it will divide the community again.

Because hard forks are exclusive and they shut out nodes.

Bitcoin Cash is available, if you want the bigger blocks.

We just had a hard fork with the inflation bug, nodes that didn't upgrade got shut out. That's actually good. why would you want to include retarded nodes?
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Topic
Board Development & Technical Discussion
Re: Why not increase the block size?
by
warboat
on 02/11/2018, 09:50:39 UTC
The problems with their argument is this, Bitcoin Cash has proven 8mb is doable without any major issues,

Btrash bcash didn't prove anything.

The transaction volume on bcash is so extremely low, that blocks are always empty. They even would be called empty with 1 MB block size.

The last 10 blocks have a median size of less than 50 KB. That's 1/20th of the old legacy bitcoin block size. Honestly.. that's a joke. Dogecoin has more transactions than btrash.

Saying bcash has provem 8mb is doable, is delusional.



There other argument is increasing the blocksize won't really scale, the problem with that is they don't need to scale to match visa, they only need to scale to match what bitcoin requires, which 8 mb would handle easily for the foreseeable future.

Please explain:
How can increasing something by a linear factor be called scaling ?

Spoiler: It can't, because that's not scaling. That's ignoring and postponing a problem.

Increasing capacity by ANY amount is scaling. In the world of tech, we scale to the limit of technology and demand, we don't need to scale things to infinity to have a scaling solution.
Bitcoin Cash YESTERDAY, put thru blocks of over 10kb and even blocks of over 20mb to prove that it is feasible to process that many TX at low fees simply by not hitting the capacity limit and thus imposing fee competition. BTC is the cruel joke at such low limits so close to being triggered and setting off competitive TX fees.
Post
Topic
Board Development & Technical Discussion
Re: Why not increase the block size?
by
warboat
on 02/11/2018, 07:45:56 UTC
The problems with their argument is this, Bitcoin Cash has proven 8mb is doable without any major issues,
Bitcoin Cash increase to 32 mb is too much too soon as their 8mb blocks were not even full.


It does not have to crank out 32mb blocks everytime. The blocksize expands UP TO 32mb as needed.
Currently block reward is around $80k per block and it has only about 1500 tx in a block. This means ALL BTC holders are paying about $50 per TX in coin inflation. Clearly, the miners can easily scale TX volume onchain with plenty of margin for profit. This is the real cost of TX, not just the amount the sender pays for the TX. TX volume clearly needs to scale onchain.
The reason non-mining nodes are not rewarded in PoW systems is because proof-of-node is corruptible paradigm. Non-mining nodes are basically just triple checking the double checking done by miners using the tech equivalent of an abacus.
If non-mining nodes cannot keep up, then they should not be protected. This is natural selection process and it must be allowed to occur. If you try to save the retards, you end up with a retarded network.
Post
Topic
Board Bitcoin Discussion
Re: Potential mining ban in China, effects on market?
by
warboat
on 15/11/2017, 01:44:14 UTC
Bitcoin MYTHs

1. mempool backlog is INDEPENDENT of hashing power.
Stop thinking the unconfirmed backlog is due to hashrate. 1% of current hashpower can mine 100 times the current mempool backlog. The bottleneck is totally due to blocksize bandwidth. Every 10mins, there is only x number of transactions that can fit, so it does not matter how much hashpower is involved.
It's like you have a robot that can solve 10,000 rubics cubes an hour but you only supply 100 scrambled rubics cubes per hour to the robot. The rest sits in mempool dumpster scrambled and waiting to get thru that 100cube an hour limit. This limit in bitcoin is the blocksize limit.
There is adaptive algorithm to change difficulty every couple thousand blocks to cater for any change in mining power.
Post
Topic
Board Bitcoin Discussion
Re: B2X is not dead yet.
by
warboat
on 10/11/2017, 09:10:41 UTC
Only about 15% support currently for B2X by miners.
https://coin.dance/poli
Post
Topic
Board Bitcoin Discussion
Re: This shit needs to STOP imo.
by
warboat
on 08/11/2017, 23:06:32 UTC
Some people that try to do a fork are probably legitimately trying to come up with a better version of Bitcoin. Others like this Segwit fork are just trying to take control and piggyback on the success of Bitcoin.

I think that based on the 9 years of Bitcoin’s history of surviving when most people criticized and dismissed it, BTC will remain as the real Bitcoin. These forks are going to produce altcoins, but it will be hard to supplant Bitcoin as the leader. The best chance of a coin having a greater market cap is just a new altcoin that builds up a track record like Etherium.

Etherium is not a good example right about now with the Parity bug causing millions to be frozen and needing a fork to unlock it.
Post
Topic
Board Bitcoin Discussion
Re: This shit needs to STOP imo.
by
warboat
on 08/11/2017, 21:59:38 UTC
Also, people that bought Segwit2x futures just got wiped out. "you know what, we cancel the fork"

"YOU KNOW WHAT?, FUCK YOU!"

FUCK (THE CENTRALISATION OF) BITCOIN

That is good, because futures trading is just gambling on a number and they need to be punished.
Hopefully this will put a dent on Fork betting.