Gold collapsing. Bitcoin UP.

[Mengerian]

Good idea. Problems:
-Anyone can run a node. It makes little difference how many nodes support what protocol choices.
-There's a big barrier to running an exchange, and an exchange has no direct say in the protocol.
-Only miners matter.

I didn't mean to suggest that people try to start up exchanges. Just that those already running exchanges who want bigger blocks, like Erik Voorhees or Brian Armstrong, could take actions to pave the way for bigger blocks without waiting for miners.

Not all non-mining nodes matter that much, but some can have a big impact. For instance the policy choice supported by the nodes that Coinbase runs could make a big difference.

 

[Norway]

A small gem from North Korea regarding the mempool situation:

 

[bluemoon]

@Norway

Yep, people want to use bitcoin? Ha, it's an attack!

What, they offer good fees? Well, make sure to put your tinfoils on, because these attackers clearly mean business!

Right everyone, fingers in ears!

 

[xhiggy]

@rebuilder How much heat can a bitcoin mining rig produce? Can it melt steel? Plastic?

 

[sickpig]

Eventually even Andreas clearly states it:


edit: look at the date

 

[cypherdoc]

 

[freetrader]

nullc, standing up for the poor oppressed marketing shills of Core:
Who knew the guy had such an altruistic streak.

 

[freetrader]

IMO @seweso totally nails it with this comment:
The Core folks do not care how many Bitcoin users they lose. Do the miners?

 

[Erdogan]

So you can pay a higher fee, or wait for an unknown length of time, possibly forever, or forgo the transaction. It is not the time to restructure your wallets. Hopefully, this farce soon ends with a large block fork.

 

[Zarathustra]

Actual situation within this 11 Billion Open Source Project: People are waiting for Jihan Wu who is waiting until July for the 500KB-Luke to deliver a 2MB HF with activation in summer 2017(!) while the mempool is exploding today! Other pool administrators and operators are doing even less....

They should have acted already a long time ago. Since they have not, they should act now, but they still don't.

 

[yrral86]

@rebuilder How much heat can a bitcoin mining rig produce? Can it melt steel? Plastic?

Neither on it's own, but combine it with a heat pump to concentrate the heat and you could melt a lot of things given a big enough rig.

 

[cypherdoc]

Bitcoin blowing the doors off all the skeptics; bulls and bears alike.

 

[bluemoon]

Actual situation within this 11 Billion Open Source Project: People are waiting for Jihan Wu who is waiting until July for the 500KB-Luke to deliver a 2MB HF with activation in summer 2017(!) while the mempool is exploding today!. Other pool administrators and operators are doing even less....

They should have acted already a long time ago. Since they have not, they should act now, but they still don't.

It is bizarre.

The right thing to do seems so obvious that I can't help wondering what hidden force is at work.

But maybe there isn't one. Maybe what we see is all there is?

 

[awemany]

What I really do not get - as I stated many times - is the miners.

I mean: Switch on the support flag for Classic's HF and be done. What could possibly happen to you?

As we are not - supposedly - under a 50% attack, it will also be no single miner who will be 'held responsible' for the hard fork.

It is just voting on the block chain for meta rules - as it should be.

The miners mostly - Jihan excepted to some extend - seem to still live in a bubble.

 

[cypherdoc]

I think this is simply the situation as perplexing as it is. I too have been surprised at the effectiveness of the political tactics small blockists have pulled as dirty and vicious as they have been. And censorship has worked to a degree.

But alas, it won't work in the long run. There are too many of us who understand what is going on.

It is bizarre.

The right thing to do seems so obvious that I can't help wondering what hidden force is at work.

But maybe there isn't one. Maybe what we see is all there is?

I

 

[Richy_T]

Whose idea was the block size limit? I know Satoshi himself put it in the code but it didn't sound like it was his idea. Or if it was, the concerns about a possible attack weren't.

 

[Dusty]

Since in that period blocks was mostly empty, most of transactions had no fees so someone could easily do a spam attack creating blocks full of stuff. If I'm not mistaken satoshi himself put a "temporary 1mb limit" to avoid the possibility to create arbitrarily large blocks without expense.
[doublepost=1466081289][/doublepost]And please note that in 2010 1MB block was considered "small enough" that even if always full would give no problem to be handled.

Funnily enough, 6 years later, with code and tech 1000 times faster, someone thinks that 1MB is too much.

 

[sickpig]

Whose idea was the block size limit? I know Satoshi himself put it in the code but it didn't sound like it was his idea. Or if it was, the concerns about a possible attack weren't.

if memory serves it was proposed by Hal Finney.

Other significant work by Hal was the review of script opcodes. As a result a bunch of "dangerous" opcodes had been disabled.

 

[Erdogan]

Actual situation within this 11 Billion Open Source Project: People are waiting for Jihan Wu who is waiting until July for the 500KB-Luke to deliver a 2MB HF with activation in summer 2017(!) while the mempool is exploding today!. Other pool administrators and operators are doing even less....

They should have acted already a long time ago. Since they have not, they should act now, but they still don't.

Give them the time they need. At least we now know that the system is resilient on the edge of its capacity. Good to know for the future.

 

[satoshis_sockpuppet]

I am a bit afraid of the moment when dark markets start accepting Ethereum...