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Tuesday, 9 April 2019

Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now.

I personally don't think BTC will ever attempt a hard fork block size increase. Here's why.

For years now, big blockers have been unwelcome in the BTC camp. There have been personal attacks, censorship, even "Scaling Bitcoin" conferences where nobody was allowed to talk about ways to increase the block size. Everyone really invested in the technology of onchain scaling left BTC between 2014-2018.

Meanwhile BTC is still the home for all the small block tribalists and will remain so. So the ratio of big blockers to small blockers within BTC is worse than ever.

So if a hard fork occurs,

  • all the small blockers

  • all the undecideds

  • and everyone who isn't paying attention

... follow the non-upgraded chain. Trying to hard fork an upgrade in these conditions is very very risky and is likely to produce just another minority spinoff like BCH. Regardless, any attempt to upgrade is sure to induce a nasty war and a coin split.

Plus you can't roll back Segwit. Not practically. So BTC's codebase remains clunky and encumbered by the legacy of the Segwit SF. And CTOR? Fuhgeddaboudit. There really isn't a practical way for BTC to somehow get on BCH's upgrade path. The two codebases are increasingly incompatible.

The good news is that if you support big block Bitcoin, you're in the right place. That's what BCH is: the Bitcoin that got the upgrade.

BCH has worked for the last 18 months to restore the scaling plan most of us thought we were signing up for before the Segwit guys got in charge: scaling up the protocol to support p2p ecash for casual transactions. With Graphene and xthinner coming online, we have two different block transmission technologies capable of approaching "Visa-like" scale. And clients like Flowee are already demonstrating the power of parallel validation (reports are that Flowee can validate the entire historical blockchain in just a few hours on modest hardware). Devs are already working on integrating these technologies into the various BCH clients. It's just a guess, but I think we'll be able to claim "Visa-like" scaling achievements within the year. And also IMO, I believe that to be able to credibly claim "Visa-like" scaling is the holy grail, the killer app.

BTC had a shot at its scaling plan. It had all the advantages: name recognition, political momentum, and a powerful social media astroturfing campaign. Nevertheless, it failed. BCH kept the original strategy of onchain scaling and is clearly winning the Bitcoin scaling war.

IMO it's just a matter of time before the markets start catching on that they've been betting on the wrong Bitcoin for the last 18 months.

So you can avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now.



Written by: jessquit
Source: http://bit.ly/2WVnM22

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