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2 out of 5 cats believe Bitcoin Core should be abandoned

Bitcoin or Bitcoin XT?  

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  1. 1. Which decision is the best one?

    • Remain using Bitcoin
      2
    • Switch to Bitcoin XT
      1


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Mike Hearn & Gavin Andresen are forking the Bitcoin Core to create 'Bitcoin XT' which has a much larger block size.

 

http://www.bbc.co.uk/news/technology-33974826

 

It appears to be a controversial topic and could potentially cause problems for bitcoin's credibility in the future if the intended outcome turns out to be a wrong decision. It could also cause problems for all Altcoins if there is a downtrend. Bitcoin XT has not been well explained and there isn't many facts on the web available explaining what exactly XT will mean for Bitcoin's future. For that reason I can't make my own decision yet in its entirety. What does everybody think about this? It would be great to hear some decent arguments 'for' and 'against'.

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bitcoin xt and bitcoin core are compatible right now, bitcoin XT will increase the size of block to 8 MBb only if 75 % of users use the wallet

It's like a voting mechanism, you want to  increase to 8mb use Bitcoin XT if you don't continue using Bitcoin core

As both wallets are compatible right now there is no risk of chain fork.

It's a smart way to see if 8 Mb increase will be accepted

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https://medium.com/@spair/increasing-the-block-size-limit-85ff236fc516

 

Bitpay support bitcoin core, they are right that Mr Hearn will further complicate things if bitcoin XT doesn't gain majority vote. I think the btcfoundation have no choice but to search harder for a solution, the public are aware, if they do not then they will forever be laser tagged by the industry. Also I think there was a long term plan, blockstream are working on sidechains, sidechains could reduce network stress I think so it's not like nothing at all was being done. Things were blown out of proportion, I don't see how increasing the blocksize limit solves any problems, only delays the outcome and makes downloading the bitcoin wallet a pain in the ass because of its size.

 

I still think bitcoin xt opened everybodies eyes and will produce better ideas, otherwise as gavin said nothing would happen.

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It's simple, the number of transactions  that the network is able to process will be saturated some time in 2016, increasing block size gives more time to investigate and see if the paper alternatives are viable (NONE of them have ever been implemented and tested properly). It would be crazy to put 3 + Billion network in hands of a completely untested, not yet developed technology.  Calling an idea a real solution is stretching the concept a little bit, the alternatives presented are not real because they don't exist in real world so, by definition, a real alternative doesn't exist right now, ergo they literally have no choice .... meanwhile the problem is very  very real.

If some alternative gets implemented and tested somewhere only then we can call that alternative REAL.

Nobody is arguing that 8 Mb size is the ultimate solution just a patch that will give more time to search for one.

In practice it will give BTC network the ability to process more transactions per unit of time

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It's simple, the number of transactions  that the network is able to process will be saturated some time in 2016, increasing block size gives more time to investigate and see if the paper alternatives are viable (NONE of them have ever been implemented and tested properly). It would be crazy to put 3 + Billion network in hands of a completely untested, not yet developed technology.  Calling an idea a real solution is stretching the concept a little bit, the alternatives presented are not real because they don't exist in real world so, by definition, a real alternative doesn't exist right now, ergo they literally have no choice .... meanwhile the problem is very  very real.

If some alternative gets implemented and tested somewhere only then we can call that alternative REAL.

Nobody is arguing that 8 Mb size is the ultimate solution just a patch that will give more time to search for one.

In practice it will give BTC network the ability to process more transactions per unit of time

True dat :D but really this should have been thought about long ago. They have the investment capacities to get the best developers but btcfoundation flopped in efficiency by allowing people like Mark Karpeles to have control, look at him now.

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