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> The counterargument is that there's no other technically credible team in Bitcoin You forgot the most important counterargument. That they _did_ move extrem

> The counterargument is that there's no other technically credible team in Bitcoin You forgot the most important counterargument. That they _did_ move extremely fast on scalability. They released a masterpiece of engineering, SegWit, which doubles the blocksize, improves efficiency, enables future efficiency gains, and a laundry list of other improvements ... all while being a softfork. And, IIRC, that was all developed, tested, and released in _very_ short order.

qznc 9y ago
SegWit is in use by LiteCoin for a year already and the first proposal for Bitcoin was at least two years ago.
- haakon 9y ago
  SegWit activated on Litecoin on May 10 this year.
- the-dude 9y ago
  Compared to changes of traditional currencies, two years is incredibly fast.
  - lclarkmichalek 9y ago
    What? Central banks can change fundamental properties about a currency overnight. i.e. https://en.wikipedia.org/wiki/Swiss_franc#2011.E2.80.932014:_big_movements_and_capping https://en.wikipedia.org/wiki/Swiss_franc#2011.E2.80.932014:...
    - snissn 9y ago
      Moving is a knob is a lot different than building a knob.
RandVal30142 9y ago
> That they _did_ move extremely fast on scalability. Three years. People have been making issue tickets for three years about Bitcoin's block size. "Core's" response was always to suggest an indirect fix to this by enabling SegWit. >a masterpiece of engineering Substantiate your claim. >doubles the blocksize Incorrect. 140% is the common number floated around. >doubles the blocksize 140% block 'capacity' while using 400% more bandwidth. That is terribly inefficient. >enables future efficiency gains Substantiate your claims. > and a laundry list of other improvements Substantiate your claims. >developed, tested, and released in _very_ short order. Funny how Core halted development of Bitcoin for several years now up until now. Now there is a frantic dash to get SegWit implemented as a fix to the block size issue even though it does not directly address it. What SegWit DOES directly affect though is the ability for Blockstream(Core) to roll out for-profit products that use Bitcoin as a settlement layer. This is the vision AXA[1] Strategic Investments and others have for Bitcoin and they are using their investments in Blockstream to make it happen. [1] http://www.coindesk.com/investment-bank-axa-eyeing-bitcoin-for-remittance-market/ http://www.coindesk.com/investment-bank-axa-eyeing-bitcoin-f...
SkyMarshal 9y ago
True. Core's website has two good reads on SegWit for anyone interested: https://bitcoincore.org/en/2016/01/26/segwit-benefits/ https://bitcoincore.org/en/2016/01/26/segwit-benefits/ https://bitcoincore.org/en/2016/10/28/segwit-costs/ https://bitcoincore.org/en/2016/10/28/segwit-costs/

qznc 9y ago

SegWit is in use by LiteCoin for a year already and the first proposal for Bitcoin was at least two years ago.

haakon 9y ago
SegWit activated on Litecoin on May 10 this year.
the-dude 9y ago
Compared to changes of traditional currencies, two years is incredibly fast.
- lclarkmichalek 9y ago
  What? Central banks can change fundamental properties about a currency overnight. i.e. https://en.wikipedia.org/wiki/Swiss_franc#2011.E2.80.932014:_big_movements_and_capping https://en.wikipedia.org/wiki/Swiss_franc#2011.E2.80.932014:...
  - snissn 9y ago
    Moving is a knob is a lot different than building a knob.

RandVal30142 9y ago

> That they _did_ move extremely fast on scalability. Three years. People have been making issue tickets for three years about Bitcoin's block size. "Core's" response was always to suggest an indirect fix to this by enabling SegWit. >a masterpiece of engineering Substantiate your claim. >doubles the blocksize Incorrect. 140% is the common number floated around. >doubles the blocksize 140% block 'capacity' while using 400% more bandwidth. That is terribly inefficient. >enables future efficiency gains Substantiate your claims. > and a laundry list of other improvements Substantiate your claims. >developed, tested, and released in _very_ short order. Funny how Core halted development of Bitcoin for several years now up until now. Now there is a frantic dash to get SegWit implemented as a fix to the block size issue even though it does not directly address it. What SegWit DOES directly affect though is the ability for Blockstream(Core) to roll out for-profit products that use Bitcoin as a settlement layer. This is the vision AXA[1] Strategic Investments and others have for Bitcoin and they are using their investments in Blockstream to make it happen. [1] http://www.coindesk.com/investment-bank-axa-eyeing-bitcoin-for-remittance-market/ http://www.coindesk.com/investment-bank-axa-eyeing-bitcoin-f...

SkyMarshal 9y ago

True. Core's website has two good reads on SegWit for anyone interested: https://bitcoincore.org/en/2016/01/26/segwit-benefits/ https://bitcoincore.org/en/2016/01/26/segwit-benefits/ https://bitcoincore.org/en/2016/10/28/segwit-costs/ https://bitcoincore.org/en/2016/10/28/segwit-costs/