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Would you prefer to:

  • 1. Implement SegWit now, lift the block size limit later.

    Votes: 3 6.0%

  • 2. Implement SegWit and lift the block size limit at the same time.

    Votes: 7 14.0%

  • 3. Lift the block size limit now, and put SegWit on hold (perhaps indefinitely).

    Votes: 40 80.0%
  • Total voters
    50
  • Poll closed .
JayJuanGee

JayJuanGee

Active Member
Sep 29, 2015
115
41
Zangelbert Bingledack said:
@adamstgbit

People only go with Core because it is promising scaling. Since that is in the future they can get away with promises and it is fairly meaningless until we actually hit real life issues (wake me when darkmarkets are complaining or switching to altcoins while Core still enjoys strong support).

Marty McFly sees this car that signals it's going the way he wants to go, so he grabs onto it. Spectators might see it as his fate being tied to that car driver, but that isn't the case at all.
Click to expand...

I believe that I agree with you, but I would phrase the situation a little bit differently. In essence, some people are mislead into believing that scaling is an issue, when in fact it is a non-issue that has been created out of thin air. Core will scale as needed, and there is no emergency to take any drastic measures. Seg wit is good in the interim, and it is seeming likely that within a year or two there will be a hard blocksize limit increase, possibly to 2mb or some other reasonable increased limit. Furthermore, we do not know the extent to which lightning network will become one of bitcoin's principle transactional vehicles or whether there will be similar competitors... currently, it does seem as if there are a lot of plans for lightning network, but a lot of the details for that are in need of being worked out, moreso after seg wit goes live.
 
Fatman3002

Fatman3002

Active Member
Sep 5, 2015
189
312
@AdrianX
It's a two party system where the minority of representatives can veto everything the majority was elected to do. Until "the dumbening" under Bush Jr. this was just an odd quirk. Now it's the rule. The Republicans have seriously endangered the otherwise vibrant US democracy. That's why the people push ahead with protest candidates. Hopefully politicians will listen, end filibuster and start respecting their own democracy again. But until then, we have idiocracy (or socialism).
 
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JayJuanGee

JayJuanGee

Active Member
Sep 29, 2015
115
41
adamstgbit said:
Click to expand...


I'm not sure about whether I should be confused by your various posts or even considering that maybe you are just trying to get attention.


One day you are on a theme of posts asserting that you are quitting bitcoin and that you are taking out all of your money to search for some "better" investment. The next day, you seem to be back in the bitcoin business.

Surely, each of us can have periods of uncertainty and skepticism, especially when it comes to the investment in volatile assets. Although, with investments sometimes can probably over react in our reallocation, and then wonder whether we should stick to our guns.

Personally, I get the sense that some posters that may have good intentions may become overly emotional because they are getting a bit too greedy in their own investment (or maybe we could call that being over extended in one portion of their portfolio).

One way to deal with this matter is to take out a small portion (maybe 5% or 10%), and that could solve the matter. On the other hand, frequently, the dynamics will become more complicated and exacerbated if we are leveraging our investment too much (such as borrowing at potentially high interest rates). Each of us needs to consider that borrowing (leveraging or margin trading) can become much more risky, and we need to be careful with the employment of such methods....

Although, I do realize that some younger folks may be able to reasonably take more risks and/or more able to bounce back from bad investments and decisions, so there could be some justification in taking proportionally more risks when you are younger with the potential of really striking it rich.
 
Z

Zangelbert Bingledack

Well-Known Member
Aug 29, 2015
1,485
5,585
@JayJuanGee

I agree that Bitcoin should be OK either way, but it is frustrating to see the motions toward future stalling when there are other ledgers at the gates looking for any opportunity to take a piece of Bitcoin's network effects. I'd feel a lot more comfortable with Blockstream's appearance if the BTC price were already above $50,000. Around there seems like the point where no new ledger could spring up separately and take over.
 
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JayJuanGee

JayJuanGee

Active Member
Sep 29, 2015
115
41
Zangelbert Bingledack said:
@JayJuanGee

I agree that Bitcoin should be OK either way, but it is frustrating to see the motions toward future stalling when there are other ledgers at the gates looking for any opportunity to take a piece of Bitcoin's network effects. I'd feel a lot more comfortable with Blockstream's appearance if the BTC price were already above $50,000. Around there seems like the point where no new ledger could spring up separately and take over.
Click to expand...


Well, each of us are entitled to our own perspective, and I never claimed to be either a crypto technical expert nor someone who really has been studying other cryptos, beyond looking at their market caps and some of their main touted features.

You seem to be hitting on a alt coin competition talking point that is a lot more speculation than reality. First of all, there is no alt coin that is anywhere near bitcoin in a lot of significant ways including hashing power, security and decentralization. A lot of the complaints about bitcoin is due to accusations regarding the extent to which it is decentralized and should remain decentralized and assumptions that blockstream somehow is causing centralization in bitcoin.

It seems to be a considerable myth that blockstream is having some kind of undue influence over the direction of bitcoin.

Regarding fear of other coins (ledgers) taking market share, why should we care? If various better mousetraps get built, then we can diversify some of our investment into the various better mousetraps, to the extent that we understand their value. I'm keeping a lot of my financial investment in bitcoin because I believe it is a much more solid investment in terms of its contribution and its current upside potential. We do not need to achieve $50k per bitcoin in order to remain competitive. Even staying at $400 per coin for a while is fine, which is likely not to be the case because doubling, tripling or 10x of bitcoin seems likely. Also, with segwit and various other ongoing bitcoin developments, it remains very likely that a lot of the various "competitive advantages" of other coins/ledgers will be absorbed into bitcoin one way or another... and if they are not absorbed then either those ledgers can provide those features or we can move (diversify) some of our crypto investment into those other ledgers.
 
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