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Look at it this way: It would be approximately as hard to change the rules of a mature bitcoin network as it would be to change say, the rules of the web (perha
by joeyh 16y ago
Look at it this way: It would be approximately as hard to change the rules of a mature bitcoin network as it would be to change say, the rules of the web (perhaps adding something easier to implement than <video>; more of a server-side change like say, TCP fast start) ...
But to make the change stick in the bitcoin network, the change would have to be made to all peers, network-wide, in the time it takes to calculate a few blocks. Otherwise the fork doesn't succeed.
- binarybits 16y agoThe rules of the web are changing constantly. All you have to do to change the web is convince Google, Apple, Microsoft, and Mozilla to go along with it.
- samatman 16y agoThree of the four will do nicely.
- zacharypinter 16y agoThink of it like ipv6, but harder :)
- chwahoo 16y agoBitcoin is designed to undergo change. It just requires convincing enough operators to use the updated version.
- DavidSJ 16y agoNot only that, but there are fundamental limitations of the protocol as it exists right now which will cause BitCoin to fail if it does not change. For example, blocks can only contain 1 MB worth of transactions. That works out to ~3,000 transactions every ten minutes, or about 5 per second. By comparison, Visa does about 8,000/second.