3 ms·

Can someone give an opinion on the results or possible results of this fork?

by chrisallick 9y ago

sp332 9y ago
Segwit2x is a compromise deal that had two parts: Segregated Witness, which allows future efficiency extensions such as the Lightning network; and 2x which doubles the block size. https://arstechnica.com/tech-policy/2017/11/bitcoin-compromise-collapses-leaving-future-growth-in-doubt/ https://arstechnica.com/tech-policy/2017/11/bitcoin-compromi... Miners signaled their agreement ahead of time, and the Segwit part worked. But since that took some pressure off, and Bitcoin Cash forked with 8x which attracted those people who wanted larger blocks, consensus fell apart before 2x was activated. In addition, there were multiple code bugs that would have kept 2x from working anyway. Assuming the bugs got fixed this time around, success of the fork depends only on getting a critical mass of miners on board.
- wereHamster 9y ago
  > […] and the Segwit part worked. But since that took some pressure off […] Pressure on what? Transaction backlog? Hardly, the fees are higher than they've ever been and we have 100k transactions in the mempool. The minority of transactions use segwit, blocksize still remains a big issue, even if we now have means to cram more transactions into a block, but hardly anybody uses it. It took pressure off of the Bitcoin Core team (and blockstream), because segwit is what's needed to get lightning to work. Then they lost interest in the second part (increasing the blocksize) and that's (partly) why it fell through.
SQL2219 9y ago
Here is a comment on the article: Joop black6master • an hour ago Red flags all over. Founder has no background or education whatsoever, the business development manager is dancer, model and actress. Github was first created a couple of days ago. Accounts with these names are fishing after privatekeys on Bitcointalk etc. etc..

3 ms·

Can someone give an opinion on the results or possible results of this fork?

by chrisallick 9y ago

Can someone give an opinion on the results or possible results of this fork?

sp332 9y ago
Segwit2x is a compromise deal that had two parts: Segregated Witness, which allows future efficiency extensions such as the Lightning network; and 2x which doubles the block size. https://arstechnica.com/tech-policy/2017/11/bitcoin-compromise-collapses-leaving-future-growth-in-doubt/ https://arstechnica.com/tech-policy/2017/11/bitcoin-compromi... Miners signaled their agreement ahead of time, and the Segwit part worked. But since that took some pressure off, and Bitcoin Cash forked with 8x which attracted those people who wanted larger blocks, consensus fell apart before 2x was activated. In addition, there were multiple code bugs that would have kept 2x from working anyway. Assuming the bugs got fixed this time around, success of the fork depends only on getting a critical mass of miners on board.
- wereHamster 9y ago
  > […] and the Segwit part worked. But since that took some pressure off […] Pressure on what? Transaction backlog? Hardly, the fees are higher than they've ever been and we have 100k transactions in the mempool. The minority of transactions use segwit, blocksize still remains a big issue, even if we now have means to cram more transactions into a block, but hardly anybody uses it. It took pressure off of the Bitcoin Core team (and blockstream), because segwit is what's needed to get lightning to work. Then they lost interest in the second part (increasing the blocksize) and that's (partly) why it fell through.
SQL2219 9y ago
Here is a comment on the article: Joop black6master • an hour ago Red flags all over. Founder has no background or education whatsoever, the business development manager is dancer, model and actress. Github was first created a couple of days ago. Accounts with these names are fishing after privatekeys on Bitcointalk etc. etc..