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In one post your criticism is that there is a lack of research, and I agree. But now you're making unsubstantiated claims again... the damage done to bitcoin? A

by hudon 9y ago

In one post your criticism is that there is a lack of research, and I agree. But now you're making unsubstantiated claims again... the damage done to bitcoin? All meaningful metrics from BitPay's transaction volume [0] to on chain USD volume [1] to the price [2] shows that Bitcoin is doing fine and does not need saving. Public data shows that even though a fee market is developing, Bitcoin is still rising quickly in use and value. As for the 1GB block research you're talking about, it was literally presented 5 days ago. S2X proposal started in May and the fork was planned for next week. The way we want this secure digital money thing to work is that proposals that are controversial or that may affect security are researched and the research is reviewed over many months or years. I know you want to take the quick approach and just LOWER FEES NOW, but we know -- from experience -- that a cowboy attitude with blockchains makes it trivial to lose a lot of money [3]. [0] https://blog.bitpay.com/bitpay-growth-2017/ https://blog.bitpay.com/bitpay-growth-2017/ [1] https://blockchain.info/charts/estimated-transaction-volume-usd?daysAverageString=7&timespan=2years https://blockchain.info/charts/estimated-transaction-volume-... [2] https://coinmarketcap.com/currencies/bitcoin/#charts https://coinmarketcap.com/currencies/bitcoin/#charts [3] https://www.cnbc.com/2017/11/08/accidental-bug-may-have-frozen-280-worth-of-ether-on-parity-wallet.html https://www.cnbc.com/2017/11/08/accidental-bug-may-have-froz...

lawn 9y ago
> But now you're making unsubstantiated claims again... the damage done to bitcoin? How about comparing Bitcoin's percentage of total market capitalization [0] which crashed from ~80% down to ~40% when the blocks became full? The last month has regained that quite a bit but you could speculate it's because the promise of long overdue on chain capacity increase. > I know you want to take the quick approach and just LOWER FEES NOW It's been years since the limit should have been increased. Yet here we are with no on chain scaling for Bitcoin even remotely close to reality. > that a cowboy attitude with blockchains makes it trivial to lose a lot of money You're really comparing apples and oranges if you compare raising the block size with Ethereum's poorly designed smart contracts. [0] https://coinmarketcap.com/charts/ https://coinmarketcap.com/charts/

by hudon 9y ago

lawn 9y ago

> But now you're making unsubstantiated claims again... the damage done to bitcoin? How about comparing Bitcoin's percentage of total market capitalization [0] which crashed from ~80% down to ~40% when the blocks became full? The last month has regained that quite a bit but you could speculate it's because the promise of long overdue on chain capacity increase. > I know you want to take the quick approach and just LOWER FEES NOW It's been years since the limit should have been increased. Yet here we are with no on chain scaling for Bitcoin even remotely close to reality. > that a cowboy attitude with blockchains makes it trivial to lose a lot of money You're really comparing apples and oranges if you compare raising the block size with Ethereum's poorly designed smart contracts. [0] https://coinmarketcap.com/charts/ https://coinmarketcap.com/charts/