Daily Archives: May 16, 2017

Does anyone else miss the good old days of Gavin & Andreas?

Today we have $10 bitcoin fees. 200k backlog of transactions. Paying a $1 fee is now considered “spam”. I remember when bitcoin was a sunny outlook and the sky was the limit.

Now I see the failure to scale as much of a problem as the MtGox collapse. It may delay mass adoption by some number of years.

The price is going up, which is great, but I see Bitcoin’s stalemate on the technology side of the house as the main barrier at this point.

Developers and Miners both want bitcoin to succeed. I remember how BTCGuild “fixed” the last fork in 2013. Back then Devs and Pools knew how to work together.

Why do they have to stay stuck in this asinine stalemate? Bitcoin’s governance model was to have miners create blocks. Majority rules, 51% is king. The mechanism is already set. All that should be required is merchants/payment processors/etc commit to actually supporting the real Bitcoin, AKA the “longest” chain.

Bitcoin today needs to grow some balls and stick with the model as designed. Sure give me Segwit, but give us bigger damn blocks too! Anyone with half brain knows 1mb, even 2mb is too small.

This really is common sense stuff. And unfortunately common sense seems to be a rarity these days. Bitcoin’s second chance IPO is here. Lets not fuck it up again (throws karpeles the finger)!

Sincerely,

A bitcoin believer and miner since 2011

submitted by /u/jwBTC
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