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Block size argument has absolutely no relation to Bitcoin failing as a currency. Block size is some weird inside baseball argument that has little real world va

Block size argument has absolutely no relation to Bitcoin failing as a currency. Block size is some weird inside baseball argument that has little real world validity. Truth is, Bitcoin was never in a position to even fail, because it never succeeded in being a currency. Bitcoin only really got any attention because of Silkroad. Without the darkweb market place Bitcoin would be a fun little internet toy. You can see this reasoning today in chains like Bitcoin Cash, these are cheaper, these do have larger blocks, but they have nowhere near the amount of currency transactions to legitimately call it a currency. These chains don't even pull in any extra load when Bitcoin fees start to creep up. XT is not really worth talking about. It ended up being a failed power grab. BIP101 failed because both sides failed to work together, instead one side got upset and created a hard fork at the next opportunity. Then attempted to call themselves Bitcoin, knowing full well they didn't have the hash rate and subsequent proof of work.

__blockcipher__ 6y ago
> Bitcoin only really got any attention because of Silkroad You just refuted your own argument. Bitcoin got attention because of its utility as a currency, in this case for illicit drug purchases. Now as soon as I have to pay an $80 fee, it ceases to be useful as a currency (except ironically for illegal drugs, if you had no other option - which is not the case btw because you can just use monero or bitcoin cash - some users would still pay a 50% fee to get their illegal drugs) > but they have nowhere near the amount of currency transactions to legitimately call it a currency What the hell is your definition of currency? A currency is whatever people use as a currency, and by that definition BCH or what have you is absolutely a currency. And fortunately you can send a transaction on-chain for 1 satoshi per byte, instead of having to use a stupid side chain / lightning network pseudo-solution > instead one side got upset and created a hard fork at the next opportunity. Then attempted to call themselves Bitcoin, knowing full well they didn't have the hash rate and subsequent proof of work. This is a fundamental misunderstanding of how it works. Within a protocol, the "real" chain is the longest chain. But when a hard fork occurs it splits into two different universes, where BCH people don't recognize BTC as valid and vice versa. Frankly the software ignorance of so many shows when they discuss this topic of forking. It's worth nothing that the "soft fork" vs "hard fork" distinction, while somewhat real, is part of the whole Bitcoin Core propaganda belief system; they believe that there must be some arbitrary "legitimacy" to a hard fork (where legitimacy is defined as who can shout the loudest after having conveniently censored all the sane people out of the room).

__blockcipher__ 6y ago

> Bitcoin only really got any attention because of Silkroad You just refuted your own argument. Bitcoin got attention because of its utility as a currency, in this case for illicit drug purchases. Now as soon as I have to pay an $80 fee, it ceases to be useful as a currency (except ironically for illegal drugs, if you had no other option - which is not the case btw because you can just use monero or bitcoin cash - some users would still pay a 50% fee to get their illegal drugs) > but they have nowhere near the amount of currency transactions to legitimately call it a currency What the hell is your definition of currency? A currency is whatever people use as a currency, and by that definition BCH or what have you is absolutely a currency. And fortunately you can send a transaction on-chain for 1 satoshi per byte, instead of having to use a stupid side chain / lightning network pseudo-solution > instead one side got upset and created a hard fork at the next opportunity. Then attempted to call themselves Bitcoin, knowing full well they didn't have the hash rate and subsequent proof of work. This is a fundamental misunderstanding of how it works. Within a protocol, the "real" chain is the longest chain. But when a hard fork occurs it splits into two different universes, where BCH people don't recognize BTC as valid and vice versa. Frankly the software ignorance of so many shows when they discuss this topic of forking. It's worth nothing that the "soft fork" vs "hard fork" distinction, while somewhat real, is part of the whole Bitcoin Core propaganda belief system; they believe that there must be some arbitrary "legitimacy" to a hard fork (where legitimacy is defined as who can shout the loudest after having conveniently censored all the sane people out of the room).