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Bitcoin effectively froze when Blockstream decided against increasing block size. The way I see it, bitcoin only stands as the flag-bearer, as (much like bitcoi
by lagadu 9y ago
Bitcoin effectively froze when Blockstream decided against increasing block size. The way I see it, bitcoin only stands as the flag-bearer, as (much like bitcoin cash) the transactions are too slow and still cost money. As the ecosystems grow and stabilize I imagine we'll be having some of the more full-featured, specialized cryptos carve out a spot within their specific domains (Dash or Raiblocks effectively taking over the "currency" use case for example).
I agree that the environment between the bitcoin and bitcoin cash communities is extremely toxic but I downplay how much that matters for a simple reason: bitcoin has been steadily losing dominance in the space and bitcoin cash is completely useless feature-wise, when compared newer-gen cryptos and even older ones like Litecoin. So sure, it's a nasty environment but it's one that I suspect we can just let die quietly in the corner.
- etr-strike 9y ago> Bitcoin effectively froze when Blockstream decided against increasing block size. You mean when the Bitcoin Core implementation of the Bitcoin protocol decided decentralization was an important feature of the currency and transaction compression should be the prioritized means of scaling.
- lagadu 9y agoThat's the "glass is very half-full" way of putting it :) They could've easily gone both ways: block size increase to 2mb, segwit and lightning network. Hell, Litecoin is well on its way to becoming the de-facto transfer currency between exchanges because it iterates so much quicker (and those 2.5 minute blocktimes sure help).
- lawlessone 9y agoThey might still increase blocksize at a later date. Some other people decided it was a good idea to try force their hand with segwit2x and it failed.