/biz/ - Business & Finance

>>24998489
bitcoin cash is what bitcoin should have been

>>23966230
Mining pools are producing blocks on BTC, not individual miners. I don't think there is a single miner with 1.5% of the BTC hashrate.

>>23966133
Maybe I was too heated in writing this, I apologize. But the protocol removal of P2SH was what ended up causing the whole issue.

>>23966343
Blockstream sacrificed so much by not just fucking increasing the block size limit. Adoption, lost. True believers like Roger Ver, lost. Programmers, lost. Community, split. BTC became overly complicated with SegWit and the concept of block weight. All because they wanted to push their stupid sidechain Lightning Network, that doesn't even work properly and isn't even BTC exclusive. Unbelievable.

>>18916004
>>18916203
summary of BTC refusing to just increase the block size beyond the size of a PNG image:
>splitting the community
>losing all adoption
>reputation in the shitter
>ton of technical debt from overcomplicated block weight concept

>>18832831
he's 120 years old, he's accepting a loss because he won't live to when it recovers.
not like he needs the money but he probably figures he can buy something else with the airline money that will increase in value quicker than airlines will recover

>>16495372
nice

>>13533989
and a hardy handshake to you

>>13424167
*blocks bitcoin becoming global cash for the whole world just because nobody would use sidechains if everybody could just transact on chain*

https://twitter.com/adam3us/status/923309367260274688
https://twitter.com/gavinandresen/status/859390357552979968
https://twitter.com/davidshares/status/1103343372515926016

https://www.reddit.com/r/btc/comments/923cg6/lets_be_clear_on_exactly_which_group_controls_the/

https://www.youtube.com/watch?v=0BZoKH-hX_o

>>12146279
oh yeah, i forgot about that for a second

>>11319992
nice, thread's still up. there's still time to laugh at you. haha!

>>11174511
the only sliver of bitcoinness BTC still has to cling on to

What SegWit does is move the input scripts in a block and allows input scripts that are exactly the same to be stackable. These are placed after the end of the block. This is why non-SegWit nodes were compatible with SegWit nodes, they simply ignore this new part after the block and only see the original 1MB block with missing input scripts (and get unverifiable transactions in their blockchain). SegWit came to be from an exploit: That nodes accept blocks with txs that have empty input scripts.

This same 1 MB block could be up to 4 MB on disk for SegWit-enabled nodes, which allows them to store up to 2 times (realistically 1.7 times) more transactions per block if 100% transactions are SegWit (40% of the network use SegWit today, source https://p2sh.info/dashboard/db/segwit-usage?orgId=1 ). The increased number of tx varies because space saved depends on the tx structure. That's right, Core preferred a complicated solution that increased bandwidth requirements and HDD requirements up to 4 times while only increasing tx/s by about 1.7 to 2 times instead of just increasing the max block size to 4 MB for 4 times tx gain. I know it's confusing but yes, they really have over 1 MB blocks on core today. See https://en.bitcoin.it/wiki/Weight_units#Misconceptions where it says:

>The maximum size of a block in bytes is nearly equal in number to the maximum amount of block weight units, so 4M weight units allows a block of almost 4M bytes (4MB). This is not a somehow "made-up" size; the maximum block size is really almost 4MB on-disk and over-the-wire. However, this maximum can only be reached if the block is full of very weirdly-formatted transactions, so it should not usually be seen.

>>11007008
despite what everybody thinks i know that satoshi is pretty smart. he is right that its about time to lock down the protocol and stop experimenting. so Bitcoin SV.

but even if abc gets adopted the most i dont really mind. even if i don't think there would be that much to gain from sorting transactions a certain way. multi threaded verification is already possible the way they are sorted today