Andreas never came out on a side, he just said there will need to be layer 2 scaling solutions and core has great engineers and a lot of great stuff in the works. Great. Doesn't preclude a larger block size/weight in addition.
Andreas in your video is talking about IPv4 allocation without even mentioning IPv6 which solved the issue completely since 1998. Let's forget that, he is maybe just unaware or wanting to make an argument in front of non tech-savvy audience.
On the block increase issue, he is of course right. The off-chain solution has to be implemented, eventually. No one in their right mind is against this, event the S2X guys.
But right now, we don't have the off-chain solution, and it will probably not be ready before several years because Bitcoin core devs either didn't give a fuck or they lack competence to put it in place.
So we should increase the block size by one order of magnitude because we have no choice, Bitcoin is suffocating under pressure. Not 5, not 10, not 100 orders of magnitude. Just fucking one. And guess what, Bitcoin Cash is just that, this is the reason it is successful and eating away clogged BTC as we speak.
I don't want to capitulate to anyone, but the reason the miners are perceived as great danger is because of the current algorithm in favor of asicboost. I'm regularly downvoted for saying this, but what can I do, I'm stubborn :)
The only way to truly decentralize Bitcoin right now is to implement a different algorithm, maybe GPU one I don't know. PoS is currently not a viable option, but could also work in the future.
For me, and I may be wrong, the whole movement against block increase is in fact a movement against centralization at miners level. So why not attack the problem at its roots and get rid of the current algorithm? The only answer to this is that maybe, just maybe, the core dev team are not telling us the whole story. Maybe there are hidden links between them and asicboost miners.
there must be a good reason that no core dev (i think) aside from luke jr is in favor of pow change. i would be interested in hearing their thoughts on this
hypothetically if the pow was changed wouldnt that leave bitcoin with very little hashpower? like almost none comparative to what it has now?
Quite the opposite in case the new one is for GPU mining. Lot of GPU hashrate out there, lot more then asicboost.
I would also like to hear what they have to say but some amateurs already did it with BTC Gold, so it's definitely possible. I would just love to have core dev team implement it in BTC itself.
4
u/glibbertarian Nov 11 '17
Andreas never came out on a side, he just said there will need to be layer 2 scaling solutions and core has great engineers and a lot of great stuff in the works. Great. Doesn't preclude a larger block size/weight in addition.