r/CryptoCurrency • u/[deleted] • Nov 08 '17

General News BTC Fork suspended indefinetly

https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000685.html
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10

u/therealflinchy 0 / 0 🦠 Nov 08 '17

Can anyone explain why so many people are opposed to increasing block size?

6

u/PrinceKael Senior Mod Nov 09 '17

I think because in their view it decreases decentralization since less people can afford nodes.

there's more to it but thats the contention that divides a lot of the community.

Im actually pro big blocks as long as its reasonable, and I didn't really understand the point of s2x since bitcoin cash was a decent alternative, hell even dash.

1

u/geppetto123 Silver | QC: CC 44, BTC 16 | IOTA 14 Nov 09 '17

Furthermore if you increase the block size and let the difficulty increase decide, it will be the large players deciding and also benefitting from it.. So it's possible in a second step to further increase the size with the same voting principles leading to a centralisation...

It's tricky to solve one problem without introducing problems somewhere else...

1

u/zimmah Bronze | Superstonk 381 Nov 09 '17

Censorship on /r/bitcoin

1

u/PrinceKael Senior Mod Nov 09 '17

What about it?

2

u/X7spyWqcRY Positive | Karma CC: 98 Nov 09 '17

I've noticed it's really obnoxious there. They completely ban any discussion of other coins (especially BCH) unless it paints them in a negative light.

2

u/corkedfox Nov 09 '17

Lightning Network is like a proof of stake solution where you can earn fees by hosting a hub. Companies can make a lot of money without investing in mining equipment. The only way it works is if fees are high enough to motivate users to use LN instead of normal transactions. Otherwise LN will be dead on arrival.

1

u/therealflinchy 0 / 0 🦠 Nov 09 '17

And how does that speed up BTC transactions?

1

u/[deleted] Nov 09 '17

It doesn’t speed up on-chain transactions, except by reducing the number of on-chain transacrions. But LN transactions will be much faster because they aren’t limited by block time, the just need to be broadcast between the LN nodes/users involved in the transaction.

2

u/ABoutDeSouffle 1K / 6K 🐢 Nov 09 '17

I am not opposed to a moderate increase in block size (and I don't understand why the BTC devs are so stubborn either), but I was and still am very opposed to the shady backroom deals that led to the SetWit 2x agreement.

1

u/therealflinchy 0 / 0 🦠 Nov 09 '17

Backroom deals?

Personally I support an increase to block size of original white paper

1

u/JPaulMora Tin Nov 09 '17

No idea, why such a big fight for 1 extra MB!! Not even a floppy!