You are viewing a single comment's thread from:

RE: r/bitcoin has gone full North Corea

in #bitcoin • 7 years ago

To be fair, a quick look at the edit history of that wiki page shows it's being policed by people employed by Blockstream and the apparent rule to add your name to the list is that you need to have a commit to bitcoin core in the last year which would exclude many people supporting segwit2X.

Not that I'm in favour of segwit2X :) I think having 2 chains, one with segwit and one with a block-size increase is the optimal solution.

7 years ago in #bitcoin by
$2.37
  • Past Payouts $2.37, 0.00 TRX
  • - Author $1.78, 0.00 TRX
  • - Curators $0.59, 0.00 TRX
13 votes
Reply 3
Sort:  
  • Trending
    • [-]
     7 years ago 

    I think having 2 chains, one with segwit and one with a block-size increase is the optimal solution.

    There can be only one Bitcoin; compared with alts, the advantages of Bitcoin is the network effect, the brand name and (arguably) the security offered by the crazy amounts of CPU-power owned by the miners. Split the chain, and Bitcoin is dead.

    In the late 90s there was one standard for online chat on the internet, it was IRC; everyone was at IRC. What happened? The network got fragmented due to arguments on how to fix the problems on the protocol level, and instead of IRC we got a lot of commercial, centralized, closed chat-platforms, and some few open chat platforms used by nobody.

    Roll forward some years, and we'll still be stuck with fiat (a jungle of different commercial centralized actors) and some few dozens of crypto-currencies used by nobody.

    $1.42
    • Past Payouts $1.42, 0.00 TRX
    • - Author $1.41, 0.00 TRX
    • - Curators $0.01, 0.00 TRX
    2 votes
    Reply
    [-]
     7 years ago 

    I think the SegWit solution is doomed to fail, but that could just be wishful thinking on my part.
    I expect a strong push for SegWit as well as Cash. SegWit to crash Bitcoin so that Cash can become the new original Bitcoin raised from the ashes of the original Bitcoin like a phoenix.

    However, I could be underestimating people's investment choices. Perhaps the SegWit chain is going to be inflated by whales dumping all their Bitcoin into it or blatant propaganda or exchange manipulation. However, there is a chance that this does not matter if most people keep their Bitcoin in the original version. The original Bitcoin can solve most of its immediate problems with larger blocks, though it may not be an ideal solution, it's a good solution for the short term (2 years or so). But of course even with a larger blocksize the system could still be abused without effective countermeasures. Nonetheless, I think that 2 years of time is enough to develop an adequate solution or some form of protection against abuse.