/biz/ - Business & Finance

Blockstream

>>4237777
nice quads.

Here, I guess fate wants you to be rich. I'll 30x your money right now: buy metaverse.

>>4237777
lurk moar

>wasted

>>4237803
>>4237830
With a roll like that you'd think one of you monkeys would actually answer my question

>>4237827
I don't want your FUCKING BAGS AAAAAH

>>4237777
quads wew

fake news anon it wont

>>4237777
S2X, backed by commercial miners and early investors, also replaces the git repository of Bitcoin as in the New York Agreement.

>>4237944
Everything is so opinionated I can't fucking tell what's actually happening

>>4237777
It allows offchain transactions which they charge as a service. Doubling the block size allows it to stay in the hands of the miners. S2X keeps the block size intentionally small to force offchain transactions that they control.

For context Bitcoin Cash was a chink power grab centered around giving miners more power. This is a Jewish power grab centered around weakening miners and giving them a no contest cut of every off-chain transaction and total control over the future of the coin.

>>4237987
People in charge of S2X would control who contributes to the git repository?

>>4238078
Lightning Network couldn't be applied to both chains? What about doubling the block size helps miners stay in control? You're saying double isn't enough?

>>4238142
I just typed a bunch of bullshit that sounded reasonable if you don't know much about the situation.

>>4237777
>supply of block space for transactions per block is limited to 1mb + segwit data
>as the number of transactions grow, competing for block space, they must increase fees to get accepted in a reasonable amount time.
>As more people start using Bitcoin the number of transactions will continue to grow and so will fees unless block space increases to compensate.
>S2X is the proposed upgrade to 2mb blocks + segwit data so transaction fees could go down
>core does not want an increase in the block size instead turning Bitcoin into a settlement layer, ie you have to use some off chain payment network to use your Bitcoins. This is similar to how banks work.
>Part of the core developers are part of a company called blockstream that plans to create a service to handle off chain transactions making money by collecting fees.
>If on chain transactions fees are low demand for second layer solutions will be low hence they will be less profitable
>But s2x, a simple increase in block size, is the corporate take over.

>>4238371
A simple check on who is behind 2X will show you the Jews behind it.
NO2X is not against block size increases, NO2X is against shady shit like the NYA which never had majority consensus and had the core devs left in the dark.

>>4238371
So Blockstream wants to keep block size small to necessitate Lightning Network. LN is like the opposite of what Satoshi envisioned. The downside of centralization needs no explanation.

And S2X is a way for Jew miners to cut out Blockstream?

This seems lose-lose what am I missing?

>>4238499
LN will not significantly decentralization, its even being being adopted for a lot of other blockchains, like ETH which just finished micro Raiden. Its also entrirely optional, as you can still transact using the traditional way.

If 2x goes through Bitcoin esentially bows to the wills of a few persons who will feel empowered and in control of the network.

>>4238499
You're not missing anything, figure out what coins the market will be moving their money into

>>4238568
*will not significantly decreases decentralization

>>4237987
so what, that is how forking open source works. core is free to merge s2x changes to their git if they want after they get btfo

>>4238499
>what am I missing

BITCOIN CASH OUTTA FUCKIN NOWHERE

>>4238469
As to why core were not part of the NYA it's because core had made their stance against block size increase long ago when any discussion of it was censored on the main bitcoin forums by theymos, who is part of blockstream, and Gavin's commit access was revoked due to daring to discuss the need for a bock size increase.

>>4238568
>If 2x goes through Bitcoin esentially bows to the wills of a few persons who will feel empowered and in control of the network.
No one controls Bitcoin, that's by design. If some idiot on /biz/ proposed a changed and the majority of Bitcoin users found it beneficial to Bitcoin and adopted the change it would not mean that idiot controls Bitcoin.

>>4238640
Unironically maybe

>>4238371
>>4238469
>>4238568
thanks for a resonable arguments, finally learning something on /biz/

>>4237915
i did answer it

>>4238870
Quads bring out the best in people

>>4238568
Can't tell if people are just shitposting at this point

>>4238889
omfg come on

>>4237777
>Can someone explain how increasing the block size helps an entity control Bitcoin?
It doesn't. It's pure propaganda and an attempt to maintain control by the people who own bitcoin.org

>>4238889
heh

>>4238078
You couldn't have gotten that more backwards if you tried.

>>4238640

>>4238568
This.

>>4238889

>>4238934
Yup. If you stick to the shilled channels you'll notice you can't even remotely discuss possible conflicts of interest by Blockstream without being shadowbanned, censored etc.


/r/btc has quite a hardon for Bitcoin cash it's kind of sad, but at least you don't see shadow comment removal or censorship of things that don't fit "the narrative" that goes on at /r/bitcoin

>>4238568
Lol, The lightning network on top of a restricted blocksize means just a few entities will have access to the side chains that will basically be essential to having your transaction actually included on bitcoin.

>2x goes through Bitcoin esentially bows to the wills of a few persons who will feel empowered and in control of the network.

Lol, the only gatekeepers here are core/blockstream. That's why a BIP couldn't be introduced to increase the blocksize and the NYA agreement was necessary. Core agreed to a 2MB increase YEARS ago in the HK agreeement and then pulled out, leaving miners totally pissed.

A small blocksize and high on chain fees is essential to blockstream monetizing sidechains.

>>4238993
33333 Silver lining

>>4239011
r/btc has a hardon for Bitcoin Cash because some Alt Coiners with no ownership of Bitcoin figured out that they could buy in cheap, fud Bitcoin, and scam Fomo Bitcoin Cash as "The Real Bitcoin". Everyone is tired of it, so when the scam gets posted, people are pretty vicious with rebuttals.