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Bitcoin Cash – November 15th Hard Fork (Bitcoin ABC vs Bitcoin SV) (Craig Wright vs Amaury Séchet)

? Image supply (picture from WeChat):
https://www.reddit.com/r/btc/comments/9tqk92/faketoshi_i_win_or_it_all_goes_down/

? Bitcoin Cash Hashrate Pie Chart (from Nov 4, 2018):
https://www.reddit.com/r/btc/comments/9u288u/svpool_becomes_second_largest_pool_after_coingeek/

? 21 MB block mined on Bitcoin Cash. Bottlenecks prevented bigger blocks from being mined:
https://twitter.com/lopp/status/1036245691050483714

? Amaury Séchet @ BCH Devcon Amsterdam 2018 (use the timestamps within the top-pinned remark):
https://www.youtube.com/watch?v=7wSFlyG-TY0

“Yes, so I agree, we have to get past 32 MB in some unspecified time in the future. But I’d prefer to put issues in perspective. 32 MB is PayPal stage volumes of transactions. So it’s already- you’re a worldwide cost system. You aren’t THE cost system and the cash of the world, however you might be fairly rattling massive. So we’re there.

The drawback is we all know if we transcend that truly the software program doesn’t work in any respect. Like, there’s a bunch of issues within the software program that make it in order that it doesn’t fairly work. And so, when you simply enhance the blocksize and also you don’t change these different stuff, the one that you just obtain is that you just enhance your assault floor. Because, there are all types of these vectors that change into Four occasions as unhealthy if they’re linear, 16 occasions as unhealthy if they’re quadratic, and so forth.

And so it doesn’t seem to be a really rational determination to extend that restrict to extend your assault floor if you successfully can’t deal with that transaction quantity due to different limitation within the software program.”

– – –

“So we prioritize the work in a bit of a different way. So Bitcoin Unlimited prioritizes the work to work on the most immediate bottleneck first. So the first bottleneck we hit they work on it and then they go to the next one. In Bitcoin ABC we have prioritized things in a way that is a bit different where we prioritize the bottleneck that is the harder to fix first. Because the way we see it is the ecosystem is quite small right now. And so those smaller expensive changes are-any kind of change becomes more expensive as the ecosystem grows. So if we do the most expensive change that needs to happen to scale properly now, the cost is less big. Because by the point we grow enough so that we hit that bottleneck, it is also very likely we will be big enough so that the cost is prohibitively high to fix those. And this is more or less what happened with the block size. In like 2012, 2013 or so, people started talking about the block size. And everybody was like, “you know-we don’t really care. The block size is less than 100kb. When they get bigger we are going to fix it. No problem. Everybody agrees.” Right? This was what everyone was saying on the time. But then after we obtained shut, we noticed that we had a bunch of latest actors within the area-lots of them didn’t need to do as a result of they’d the marketing strategy that was aligned with the actual fact that there’s a restrict. And usually there are extra folks to persuade as effectively. So we discovered ourselves ready the place is turned very, very tough to boost the block measurement, and we ended up having to fork to make that occur. So we very a lot don’t need to discover ourselves in the identical state of affairs once more for different components that restrict scaling. And for this reason we’ve got been specializing in these components which might be the costliest to repair.”

– – –

“I would argue though that saying, “Ok, we’ve raised the block size to 128 MB” after we can’t actually deal with it. And say, “Ok, we can handle that.” And then possibly a kind of companies goes to really try to every little thing breaks down. It’s in all probability even worse than saying “We do 32 MB.”

So, I might be very a lot of the opinion that we have to elevate it as a lot as attainable to keep away from this sort of difficulty, however I might somewhat not promote one thing that we can’t do. ”

– – –

Disclaimer: The views expressed on this video are strictly my very own and are to not be construed as buying and selling recommendation. Do not purchase, promote or in any other case commerce cryptocurrency primarily based on the content material of this video. I’m merely sharing what I’ve completed and what I might do in numerous conditions as an academic software solely.

#bitcoincash #bitcoin #btc #cryptocurrency #cash #blockchain
Hard Fork, Hardfork, Split, Network Upgrade, Hash War

– – –

? EOS donation tackle/account identify: colintcrypto
? Ethereum (ETH) tackle: 0x5b90414Aeb115f910698304E63C2C3092739c9c0
? Bitcoin Cash (BCH) tackle: qpzc3apy9s8x2qtlqxxgnalfxtzgnkg5nq352w9k2t
? Bitcoin (BTC) tackle: 1Da6ivdriJpzqnLkNEa1XnKk5nGCiyRZrF

– – –

? Website: http://www.ColinTalksCrypto.com
? YouTube: http://www.youtube.com/ColinTalksCrypto
? Twitter: https://twitter.com/ColinTCrypto (@ColinTCrypto)
? Steemit: https://steemit.com/@colintalkscrypto

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