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Looking back: Hong kong Roundtable Consensus and Beijing Mining Pool Conference Declaration

When it comes to the discussion of Segregated Witness,  2 important announcements made by Chinese bitcoin community are always mentioned. For those who are not familiar with them, 8btc now looks back  the two documents for all reader’s reference.

 

1.2015 Beijing Pool Conference Declaration

On 12nd June 2015, five of China’s biggest mining pools — AntPool, F2Pool, BTCChina, BW Mining, and Huobi — have unanimously agreed block size should scale to no more than 8 MB.They collectively rejected Bitcoin core developer Gavin Andresen’s proposal to raise the limit from 1 MB to 20 MB, and instead presented a compromise.

After a symposium in National Conference Center in Beijing, the five, jointly accounting for some 55% to 60% of all hashing power on the Bitcoin network, posted an announcement with their stamps or signatures:

14805830691

 

The announcement reads:

The five mining pools have agreed to scale the blocksize to no more than 8MB instead of  20MB. We have 3 concerns behind the decision.

 

First, Chinese(mainland) Internet bandwidth infrastructure is not built out to the same level as those of other Western countries.
Second, Chinese (mainland)outbound Internet bandwidth is limited, which causes communication delay when connecting to Europe and the United States is in process.
And finally,  Chinese mining pools structure still need more adjustment to adapt to blocksize bigger than 8MB.

Because of these reasons,we believe the to increase to large size could lead to a high rate of orphaned blocks, thus result in fork and a risk of bitcoin’s safety. Under current circumstances, we believe a 8MB size is a steady move, which will also lay a sound foundation for future’s further scale. Our five mining pool account for more than 60% of all hashing power on the Bitcoin network.

 

2.2016 Hong Kong Consensus

On February 21st, 2016, in Hong Kong’s Cyberport, representatives from the bitcoin industry and members of the development community have agreed on the following points:

  • We understand that SegWit continues to be developed actively as a soft-fork and is likely to proceed towards release over the next two months, as originally scheduled.
  • We will continue to work with the entire Bitcoin protocol development community to develop, in public, a safe hard-fork based on the improvements in SegWit. The Bitcoin Core contributors present at the Bitcoin Roundtable will have an implementation of such a hard-fork available as a recommendation to Bitcoin Core within three months after the release of SegWit.
  • This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the non-witness data to be around 2 MB, with the total size no more than 4 MB, and will only be adopted with broad support across the entire Bitcoin community.
  • We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.
  • We will only run Bitcoin Core-compatible consensus systems, eventually containing both SegWit and the hard-fork, in production, for the foreseeable future.
  • We are committed to scaling technologies which use block space more efficiently, such as Schnorr multisig.

Based on the above points, the timeline will likely follow the below dates.

  • SegWit is expected to be released in April 2016.
  • The code for the hard-fork will therefore be available by July 2016.
  • If there is strong community support, the hard-fork activation will likely happen around July 2017.

The undersigned support this roadmap.

Together, we are:

Kevin Pan
Manager
AntPool

Anatoly Legkodymov
CEO
A-XBT

Larry Salibra
Bitcoin Association Hong Kong

Leonhard Weese
Bitcoin Association Hong Kong

Cory Fields
Bitcoin Core Contributor

Johnson Lau
Bitcoin Core Contributor

Luke Dashjr
Bitcoin Core Contributor

Matt Corallo
Bitcoin Core Contributor

Peter Todd
Bitcoin Core Contributor

Kang Xie
Bitcoin Roundtable

Phil Potter
Chief Strategy Officer
Bitfinex

Valery Vavilov
CEO
BitFury

Alex Petrov
CIO
BitFury

Jihan Wu
Co-CEO
Bitmain

Micree Zhan
Co-CEO
Bitmain

James Hilliard
Pool/Farm Admin
BitmainWarranty

Yoshi Goto
CEO
BitmainWarranty

Alex Shultz
CEO
BIT-X Exchange

Han Solo
CEO
Blockcloud

Adam Back
President
Blockstream

Bobby Lee
CEO
BTCC

Samson Mow
COO
BTCC

Robin Yao
CTO
BW

Obi Nwosu
Managing Director
Coinfloor

Mark Lamb
Founder
Coinfloor

Wang Chun
Admin
F2Pool

Marco Streng
CEO
Genesis Mining

Marco Krohn
CFO
Genesis Mining

Oleksandr Lutskevych
CEO
GHash.IO & CEX.IO

Wu Gang
CEO
HaoBTC

Leon Li
CEO
Huobi

Zhang Jian
Vice President
Huobi

Eric Larchevêque
CEO
Ledger

Jack Liao
CEO
LIGHTNINGASIC & BitExchange

Star Xu
CEO
OKCoin

Jack Liu
Head of International
OKCoin

Guy Corem
CEO
Spondoolies-Tech

Pindar Wong
Sponsor

 

COMMENTS(112)

  • dellintelbitcoin
    2 months ago dellintelbitcoin

    Can someone explain what core have done wrong? Why the negativity?

    • utopiawesome
      2 months ago utopiawesome

      I’ve got you marked with over 30 downvotes, I highly doubt you are new to the subject

      • singularity87
        2 months ago singularity87

        He’s an employee of blockstream. They have a lot. Looks like they are implementing a new tactic of pretending to be confused about why people are unhappy with core.

    • randy-lawnmole
      2 months ago randy-lawnmole

      Failed to listen to the users, the miners, and the Businesses that desperately needed a stupidly simple capacity increase.

    • satoshis_sockpuppet
      2 months ago satoshis_sockpuppet

      Nothing, /r/btc is a cesspool with no users except sockpuppets of Roger Ver. Nobody cares about any alternatives and Core is the only implementation giving us freedom and infinite decentralization by using their superior “strong consensus” (as felt by Greg and his lapdog Wladimir). Segwit is on it’s way to activation and everything is great. Lightning is almost finished, we don’t just know how to actually solve the tiny problem of decentralized routing. After Lightning gets deployed, we will see mass adoption any day.

      /s (if anybody really needs it..)

      • grappler_baki
        2 months ago grappler_baki

        I actually did need the /s…

      • cryptonaut420
        2 months ago cryptonaut420

        I for one am still holding out for sidechains…

    • singularity87
      2 months ago singularity87

      Stop fucking pretending to be some new user to concern troll. You manipulative fucks disgust me.

  • moYouKnow
    2 months ago moYouKnow

    They are attempting to circumvent Bitcoin’s consensus mechanism and centrally plan changes which a large portion of the community and a substantial portion of the miners oppose.

    • dellintelbitcoin
      2 months ago dellintelbitcoin

      Source?

      • abowlnomore
        2 months ago abowlnomore

        Source? If he gets alot of karma he is right 😉

      • Ant-n
        2 months ago Ant-n

        Well this post provides the sources.

      • randy-lawnmole
        2 months ago randy-lawnmole

        For an unbias look at Segwit, I suggest listening to Jeff Garzik – A Bitcoin Status Report note particularly how it changes the economic incentives that make bitcoin function as sound money. You can’t change these properties without consent from the entire ecosystem. This was their error.

    • _risho_
      2 months ago _risho_

      i’d argue that a large portion of the community is not qualified to make such an assessment. who gives a fuck what some dunning-kruger 16 year old thinks about segwit or the block size?

      • awemany
        2 months ago awemany

        i’d argue that a large portion of the community is not qualified to make such an assessment. who gives a fuck what some dunning-kruger 16 year old thinks about segwit or the block size?

        Speak for yourself.

      • adoptator
        2 months ago adoptator

        Is this Dunning-Kruger 16 year old qualified to decide on the decider? Is he an expert on authorities? Because that is your argument.

        Everyone who is participating in this economy has a responsibility in these decisions. There is no magical way to get rid of that.

  • illegaltorrents
    2 months ago illegaltorrents

    Chairman Mow™ is a clown.

    • 2cool2fish
      2 months ago 2cool2fish

      Edit: deleted rant post because of my own stupid confusion (again!) of Jiang and Jihan.

  • _risho_
    2 months ago _risho_

    who else would i speak for?

    • awemany
      2 months ago awemany

      who else would i speak for?

      Well, you know, for example 16 year olds suffering from Dunning-Kruger 🙂

      • _risho_
        2 months ago _risho_

        i’m not speaking for them. they are plenty capable of speaking for themselves, as they do it constantly. i’m just saying whatever they say is less than worthless.

        • jessquit
          2 months ago jessquit

          Mmmhmmm

  • blockchainera
    2 months ago blockchainera

    anyone one can tell me what CORE has gone wrong?

    • linktype
      2 months ago linktype

      Luke jr and petertodd signed in hong kong, that segwit would be implemented as a hardfork. But then it was discovered that could be done as a softfork, which is much better, for nodes sake.

  • _risho_
    2 months ago _risho_

    Is this Dunning-Kruger 16 year old qualified to decide on the decider? Is he an expert on authorities?

    no i don’t think 16 year olds with dunning-kruger are qualified to do that either.

    I’m not trying to claim that the only opinions worth listening to are the on the core side. there are plenty of qualified people on both sides. gavin/jeff garzik and perhaps even some of the unlimited/classic devs on one side. the core devs on the other side. they are are all qualified to speak in this debate.

    people who have no place in the discussion are people with dunning-kruger traits and people who are ideologues.

    • adoptator
      2 months ago adoptator

      Your argument was:

      large portion of the community is not qualified to make such an assessment

      Yet, people who are not “qualified” do make choices (such as picking one authority over another, boycotting, not boycotting, etc.) and these decisions lead to outcomes.

  • traceability
    2 months ago traceability

    Jiang has said that those who support scaling are all for SW, is that true?

    • jessquit
      2 months ago jessquit

      I support whatever fix to malleability requires the least impact to the code base.

      Bitcoin works best when it has the involvement of coders who peer review the code that is offered by the developers.

      There are several malleability fixes under consideration by various teams. I will be very prejudiced towards the one with the smallest change footprint. Which is almost surely not Segwit as a soft fork.

    • todu
      2 months ago todu

      Personally, I am against the 75 % Segwit signature discount. That discount should be 0 %.

      There should be only one blocksize limit. Segwit tries to change the Bitcoin protocol so that the protocol has two separate blocksize limits. One limit for transactional data (1 MB) and a separate limit for signature data (3 mb). I am against that.

      Flexible Transactions which is a competing solution to Segwit, does not change the current one limit so that it becomes two separate limits. It keeps the one limit. There should only be one blocksize limit and not two.

      The Segwit discount is just a sneaky attempt from Blockstream to introduce a discount for their future LN transactions which will use a lot of signature data. They should not be given this discount. Blockstream claims that this discount will make the UTXO set smaller. I do not believe that it will have such an effect. The UTXO set will remain the same size and the future Blockstream controlled LN hubs will get cheaper transactions compared to everyone else’s transactions.

      Vote no to Segwit. Vote no to this 75 % Segwit signature discount. Vote yes to Bitcoin Unlimited and Flexible Transactions, that does not attempt to change the Bitcoin protocol to include such a signature discount that only LN off-chain transactions can benefit from.

  • Ant-n
    2 months ago Ant-n

    Well if that 16 year old is mining the has a voice otherwise no.

  • _risho_
    2 months ago _risho_

    did i say that unqualified people making decisions will not lead to outcomes?

    • adoptator
      2 months ago adoptator

      No. It’s just that the fact makes your argument meaningless.

      Which action do you propose this “unqualified” majority, who actually causes the entire outcome, to take?

  • utopiawesome
    2 months ago utopiawesome

    history?

  • randy-lawnmole
    2 months ago randy-lawnmole

    Bazzzinga

  • DafarheezyRises
    2 months ago DafarheezyRises

    Is asking a question that doesn’t fall under your confirmation bias deserving of a downvote?

    It seems like anyone who has a different opinion gets downvoted here. The guy was asking a question politely…

    • jessquit
      2 months ago jessquit

      The thing is when the same guy asks the same questions over and over as many of the rbitcoin trolls do, you eventually see the pattern and just start downvoting them every time they do it.

      It would be one thing is he was sincere, but he’s not, he’s willfully ignorant. He knows full well the problems with Segwit as proposed by Core because we’ve all told him before.

  • todu
    2 months ago todu

    Thank you for translating the Chinese conversations into English and sharing your translations here. Google Translate is very bad at translating between Chinese and English so your translations are much appreciated for us who don’t know how to speak Chinese!

    • 8btccom
      2 months ago 8btccom

      we feel so glad you think it’s meaningful. Chinese and western community should always communicate effectively as the two sides really have a big say for bitcoin.Their communication matters. It’s not easy to understand bitcoin for an ordinary person without enough immersion. It’s even harder to find guys who knows bitcoin well and are able to translate properly. we are happy we now have sevral these guys. So May I invite all the friends on Reddit to leave your questions here or on our site to enlighten more people.

      • onchainscaling
        2 months ago onchainscaling

        My question: I believe people should lead by example. Why does he continuously set people up against each other by attacking and ridiculing people that think Bitcoin should scale on-chain in order to continue successfully towards becoming a world currency.

  • acearmv8
    2 months ago acearmv8

    Samson Now will handwave all criticism, make some jokes, repeat some talking points and throw jabs and ridicule adversaries. There will be no real substance in his intervention. Wait and see.

    • pb1x
      2 months ago pb1x

      Roger Ver will get on the phone and try to get him fired, it won’t work, the cycle will repeat. The Nakamoto equilibrium

      • will_shatners_pants
        2 months ago will_shatners_pants

        Core guys will try and get Samson to sign another agreement. The head-sawdust equilibrium.

      • Bitcoinopoly
        2 months ago Bitcoinopoly

        What makes you say that? Is this your usual comment where you project everything that Core and Blockstream do onto all of their competitors?

    • ToAlphaCentauriGuy
      2 months ago ToAlphaCentauriGuy

      Samson is the Trump of the core party. Professional troll

    • 2cool2fish
      2 months ago 2cool2fish

      So what? He has spoken where it counts. Signalling his preference from his wallet.

      Or is he defying his country as Jiang is suggesting?

  • _risho_
    2 months ago _risho_

    i try to avoid making absolute statements about what the bitcoin ecosystem as a whole should do, as I also consider myself unqualified to make such a claim. i have opinions, and arguments that i am more sympathetic to, but I don’t think you are actually interested in what I think so I’ll end it there.

  • dskloet
    2 months ago dskloet

    How do you know risho isn’t a 16 year old suffering from Dunning-Kruger?

  • saddit42
    2 months ago saddit42

    of course. just not as an ugly soft fork and as replacement for a blocksize increase.

    • smartfbrankings
      2 months ago smartfbrankings

      Chain splits are far uglier than soft forks that have been used for every single upgrade so far.

      • albinopotato
        2 months ago albinopotato

        non-convergent Chain splits are far uglier than soft forks that have been used for every single upgrade so far.

        FTFY. Chain splits happen all the time and no one ever notices.

    • 2cool2fish
      2 months ago 2cool2fish

      So you would be willing to drop the dynamic blocksize piece of the proposal?

  • albinopotato
    2 months ago albinopotato

    Without a doubt.

  • ferretinjapan
    2 months ago ferretinjapan

    Lol, well that’s one way to make people hate Blockstream Core and BTCC even more…

  • TanksAblazment
    2 months ago TanksAblazment

    chain splits are what Satoshi suggested when some group of developers with commit access refuse any changes that aren’t universally acceptable (but at the same time some of those developers are working closely to censors and disrupt discussion so that total acceptance can never happen); that is to say some sort of gridlock,

    I must say, I think this is exactly what Satoshi would have suggested in this case.

  • jessquit
    2 months ago jessquit

    Hilariously I almost missed the /s because this actually reads like the shit they keep posting. Have an upvote for quality sarcasm.

  • ferretinjapan
    2 months ago ferretinjapan

    It also implies that they have done exactly zero research on the subject and expect everyone else to do it for them, so it doesn’t have to be trolling. Low effort posts also get the downvote treatment.

    • randy-lawnmole
      2 months ago randy-lawnmole

      Wow, that’s a lot of bias handwavey opinion without any real supporting evidence.
      It may interest you to know I’m not against segwit, i’m just against it’s current form as a soft fork with the 75% discount. HFSW for the win.

  • sfultong
    2 months ago sfultong

    It’s too bad that BTC can’t split cleanly like ETH/ETC

  • chodpaba
    2 months ago chodpaba

    What exactly is your metric for ‘Strong Anti-Core Sentiment’?

    • 8btccom
      2 months ago 8btccom

      Jiang zhuoer, a Chinese miner has recently accused Core of being autocratic if they are not willing to scale. He likened core and BTCC to tyrants. Of course Jiang can not represent the whole community, but at least he has gained popularity and support(on reddit and 8btc).That’s why we call strong anti-core. We also believe there are still many people who support Core, and we would be so glad if they can stand out to defense. We look forward to it on the AMA related communication. are u for or against Core, btw, reasons ?

      • chodpaba
        2 months ago chodpaba

        So your metric is degree of vociferousness, not degree of representation

  • cryptonaut420
    2 months ago cryptonaut420

    Yeah, he’s frequented here pretty much the entire time, as far back as I can remember. Just being coy.

  • 2cool2fish
    2 months ago 2cool2fish

    That’s not the decision on the table currently.

    • Helvetian616
      2 months ago Helvetian616

      The first option on the table is not necessarily the best. And as far as I know, this is not something that can be undone once activated.

    • redlightsaber
      2 months ago redlightsaber

      The decision on the table won’t reach the activation threshold, so this false sense of urgency truly needs to go away.

  • wztmjb
    2 months ago wztmjb

    i try to avoid making absolute statements about what the bitcoin ecosystem as a whole should do, as I also consider myself unqualified to make such a claim.

    You’re totally in the wrong subreddit with this kind of attitude!

  • Annapurna317
    2 months ago Annapurna317

    Samson Mow is one of the most toxic people on the mining side. Just take a look at his twitter rants over the past 8 months. He’s totally nuts. I couldn’t care less what his AMA responses are. If a fool like this gets his way Bitcoin will be destroyed.

  • todu
    2 months ago todu

    My questions:

    The company “Blockchain Capital” owns company shares in the company Blockstream. Blockchain Capital also owns company shares in the company BTCC. The company BTCC is very friendly to the company Blockstream. Is that because their common owner owns a lot of stocks in both companies?

    What percentage of Blockstream does Blockchain Capital own?

    What percentage of BTCC does Blockchain Capital own?

    Blockchain Capital also owns company shares in the company Bitfury. Bitfury also is very Blockstream friendly. It seems like Blockchain Capital has a lot of influence.

    What percentage of Bitfury does Blockchain Capital own?

    Who are the owners of the Blockchain Capital company and why do they want Bitcoin to only scale off-chain and not scale on-chain?

    You can see that Blockchain Capital owns shares in both Blockstream and BTCC and Bitfury in this picture:

    https://forum.bitcoin.com/download/file.php?id=601&sid=ece4dfe1fa31b443df50cc9292c9d9f4&mode=view

    The picture was taken from this forum thread:

    https://forum.bitcoin.com/bitcoin-discussion/follow-the-stream-of-money-t11115.html

    • 8btccom
      2 months ago 8btccom

      thanks for your question. Please keep follow our continuing coverage. Your questions will be shown bilingually on http://www.8btc.com

  • todu
    2 months ago todu

    Jiang Zhuoer has 0.35 % of global hashing power under his direct personal control. What mining pool is Jiang using? My guess is that he is already directing his miners at either Viabtc or at pool.bitcoin.com.

  • 2cool2fish
    2 months ago 2cool2fish

    For Core. Unlimited Blocksize is a risk for Bitcoin due to a PoW algorithm that has concentrated mining. Not crazy about Core/Blockstream. Many criticisms are valid.

    My preference in order: 1) No decision, status quo, scale off chain. 2) SegWit dominance. 3) Split chain, both coins survive. 4) Split chain, BU dominance. 5) Split chain, Monero or other takes over ecosystem. I am financially and mentally prepped for all these.

    In China, who are the Bitcoiners? Is it widespread known? Do average people participate? What are the general motives for participating in Bitcoin? Do people realize how diminished Bitcoin may leave authority over money and thus authority in general? If so, how is that viewed?

    So you might imagine that I hold Samson Mow with some esteem despite some of his antics. He has had the courage to stake his position and almost he alone guarantees that Bitcoin Unlimited can at most split the chain. This is a brave conviction and of course it also fits my own bias as to what Bitcoin really is.

    Thanks for bringing this to Reddit.

  • 2cool2fish
    2 months ago 2cool2fish

    Well then let’s see some new proposals. I don’t think Core devs will recant SegWit for a long time. Complaining won’t move them.

  • 2cool2fish
    2 months ago 2cool2fish

    This is not public politics. His personality and antics do not and will not ever matter. The only thing he can do is hash blocks compatible with the network. That he has a large vote in determining what compatibility means is the fault of a flawed PoW.

  • coin-master
    2 months ago coin-master

    Accepted by basically the whole network.

  • acearmv8
    2 months ago acearmv8

    There is a problem when a person can only handwave his opponent arguments, troll and insult. I’m not saying all debate in the community should be monotone academic toned, you can add some rethoric and some jokes if you have something of substance to say and can be constructive, but Samson Mow is the opposite of constructive.

    • 2cool2fish
      2 months ago 2cool2fish

      Again. So what? Ignore him. Fact is his hashpower is speaking clearly.

      • Bitcoinopoly
        2 months ago Bitcoinopoly

        It’s not his hashpower.

  • 2cool2fish
    2 months ago 2cool2fish

    Well it is a sum of his and those who proxy to his pool, if you insist to quibble.

    • Bitcoinopoly
      2 months ago Bitcoinopoly

      Please tell me how much of the pool he owns. My understanding was that he is just an employee of said pool. He doesn’t get to decide exactly what they mine and actually holds just a little responsibility in that regard.

    • acearmv8
      2 months ago acearmv8

      Its not even his pool. He is an employee of the pool.

      • 2cool2fish
        2 months ago 2cool2fish

        Then why does anybody care what he says?

  • ThePenultimateOne
    2 months ago ThePenultimateOne

    This is literally public politics. It’s not the result of a flawed PoW, it’s the result of it working correctly. Changes are slow and made conservatively, because there are large economic incentives to do so, no matter how good you or I believe the change to be.

  • saddit42
    2 months ago saddit42

    so then explain to me. Why not a hard fork with segwit and a dynamic blocksize limit as implemented by BU? Everyone would get what they want..

    • smartfbrankings
      2 months ago smartfbrankings

      BU is not a dynamic limit. It is the removal of limits.

      A hard fork that has contention results in a permanent chain split. That’s something that should be avoided when possible.

      I’m perfectly fine with someone creating a spin-off for UnlimitedCoin.

  • 8btccom
    2 months ago 8btccom

    thanks. we will bring back his responses later on.

  • jessquit
    2 months ago jessquit

    How would he be aware of Flexible Transactions if he lives on rbitcoin?

  • pb1x
    2 months ago pb1x

    He said it himself

  • 8btccom
    2 months ago 8btccom

    The key is we need the voices from both sides. Then we can see whether it’s “strong” anti-core sentiment. That’s also why Mr. Mow now is ready for the questions. We just want to hear more voices.

    • chodpaba
      2 months ago chodpaba

      There is an Internet full of voices. Very few will be able to contribute meaningfully to what is, essentially, an engineering process.

      • 8btccom
        2 months ago 8btccom

        The opinions will give pressure to or influence the miners who have the hash power.

        • chodpaba
          2 months ago chodpaba

          The miners understand on what side their bread is buttered on. Scaling via smart contract networks is potentially vastly beyond what can be achieved by increasing blocksize alone.

  • marcoski711
    2 months ago marcoski711

    Its a user-defined dynamic limit.

    Which reflects stakeholders’ needs much better than core’s we-know-better-than-you centrally set hard limit. Shill.

    • smartfbrankings
      2 months ago smartfbrankings

      Users don’t define the limit in BU, miners do. And they only do it through a 51% attack. Users are forced to swallow whatever miners shove in their mouth.

      • MustyMarq
        2 months ago MustyMarq

        Sounds like the argument from those advocating that segwit signaling miners orphan the opposition once/if they get 51%.

        There is only the illusion of a limit today.

        ”They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism.”

        You do have an influence on the miners via the market, which you’ve already exercised. 😐

  • marcoski711
    2 months ago marcoski711

    No, users do. They reject excessively large blocks and won’t relay them. They get to choose what excessive means. Go spread your mis-information elsewhere.

  • smartfbrankings
    2 months ago smartfbrankings

    Except if the excessive block gets long enough, it is accepted by you. So all they have to do is ask nicely three times, and you will eat it. You not relaying anything doesn’t mean anything, other than keeping your peers in the dark.

    • marcoski711
      2 months ago marcoski711

      all they have to do is ask nicely three times…

      Exactly. Lukejr can signal for 0.5MB blocks but if the rest of the network is on 1MB then after 3 blocks (user-configurable), he rejoins the longest chain so he isn’t permanently forked off.

      You not relaying anything doesn’t mean anything

      …except for orphans for miners if they mine larger than people want

      …except when everyone else also agrees with you not relaying, in which case it means the block is rejected.

      It’s called consensus.

  • Bitcoinopoly
    2 months ago Bitcoinopoly

    I see. Do you think what Samson posts online is becoming of his position at BTCC?

  • pb1x
    2 months ago pb1x

    Definitely, remember that outside of Roger Ver’s echo chambers most bitcoiners think Roger Ver is laughable at best and a menace at worst

    • Bitcoinopoly
      2 months ago Bitcoinopoly

      I didn’t ask about Roger, and your opinion on Samson’s conduct is as ridiculous as said conduct.

      • pb1x
        2 months ago pb1x

        He mostly makes fun of Roger Ver, that’s why Roger Ver is trying to get him fired

  • todu
    2 months ago todu

    Thank you!

  • smartfbrankings
    2 months ago smartfbrankings

    Sounds like the argument from those advocating that segwit signaling miners orphan the opposition once/if they get 51%.

    Well, the worst miners can do in that case is tighten the rules. In the BU case, they can completely eliminate your ability to put checks on what they are doing, such as change the inflation schedule.

    I’m willing to buy back in once the Chinese Mining Cartel is busted.

    • MustyMarq
      2 months ago MustyMarq

      You personally running a certain variety of non-mining relay node does not give you the ability to enforce a blockspace quota on miners, and miners can’t make you use their chain. It’s all voluntary.

      If they messed with the inflation schedule, there would be a much bigger group than just the holy 1MB crowd forking away to an alt chain.

      The market is the check on the power of miners, not some relay nodes.

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