Implementation of BIP 101 : maximum block size increase by ...
Getting started with Bitcoin mining
Dear miners: want the price of Bitcoin to go way up so your fees and coinbase rewards are worth more? Support BIP101.
Let me tell you a quick story... I started a small Bitcoin company that is going through the joy of fundraising right now, like every other startup on the planet. Do you know the #1 reason people are avoiding investing in Bitcoin? It's not that our company, product or team are weak. They are all great. It's that the internal politics of Bitcoin are affecting the total addressable market of users. Translation: they won't invest because they see the upside as capped because they don't think more people will enter the market as users. They see an internally divided community and what probably looks like a possible death spiral. And do you know what? They are right. Capping the blocksize at 1mb limits us to 200,000 transactions a day, about enough for a few 100k nerds who already use Bitcoin. By supporting unpopular scaling options, or gridlock, you are driving investment money and users away from Bitcoin. This ultimately is what is holding the price down. Do you want to know how to make a lot of money right now? Support bip101! The simple announcement that major miners are supporting bip101 will send the price of Bitcoin through the roof. Venture capital will unfreeze, money will start to flow back into the industry, and the bull market will resume. That's all. I hope you are listening. Edit: I'm not an investment advisor and this does not constitute investment advice. This message is for miners, not speculating bitcoin noobs. All the usual disclaimers about bitcoin apply, it could go to zero, it's an experiment, no guarantees, yada yada yada. But seriously miners, get with the program. BIP101!
Miners are to blame for the lack of BIP101 adoption(A rant from a Bitcoin app developer).
Feel the need to get this off my chest. BIP101 was completed in code six months ago. The solution is here, right now, and yet, miner adoption of BIP101 is currently at 0.1%. Community support for it is probably > 80%. Its hard to deny that there is a conflict of interest, between the bitcoin userbase who want bitcoin to scale, and the vast majority of miners, who aren't responding to our needs. On black friday, the blocks were full and there was a transaction back log. This should frustrate the bitcoin userbase more than it currently is; miners, rather than adopting the viewpoint of having safe margins, are preferring to wait until a state of permanent crisis arises. The black friday backlog, to them, was just a temporary crisis to be ignored. Satoshi handed over control of the project to Gavin for good reason. He's the most level-headed, solution-oriented, clear-thinking developer the bitcoin community has. On the other side, the blockstream core devs do everything they can to stifle solutions. If you read any argument by nullc or blockstream-core devs, you'll see that they contain no solutions. They always commit the nirvana fallacy, IE, never offering an alternative solution, but pointing out how the proposed one isn't perfect in an idealized world. I've written projects for the bitcoin ecosystem, and mike_hearn and Schildbach were happy to help me out whenever I had problems. While that may be an anecdotal experience, its hard to deny that wallet developers are responsive to the needs of the users, far more than the blockstream devs. If the miners just keep kicking this scaling problem down the road, and refuse to adopt a solution soon, then we can conclude that proof of work has failed; that the conflicts between the userbase and the miners are irreconcilable, and that bitcoin is truly a settlement network, rather than a global payment network to be used by ordinary people. TL:DR; The vast majority of miners are not responding to the desires of the bitcoin userbase, and are completely at fault for the current crisis.
Andrew Stone: While ideas like BIP101 require us to project far into the future, and BIP100 puts voting solely in the hands of miners, Bitcoin Unlimited puts "voting" in the hands of every full node -- the max block size emerges from the "excessive" settings
[Bitcoin]The use of P2Pool as a resistance to the DDOS attacks on BIP101 miners.
Decentralization has its advantages! I remember sometime last year the vertcoin community was making leaps and bounds in the advocacy and adoption of p2pool. This is where I learned how to use it. Now, if any of you have been following the blocksize debate on /bitcoin/bitcoinxt, you can see that p2pool has become crucial to give BIP101 miners a voice. I'd just like to give a nod to the vertcoin community for taking the right stance from the get go and keeping a focus on miner decentralization. And if any of you spartans vertans care to join us, we shall welcome you with open arms. For the people!
Fellow Miners, Some of you receive emails and phone calls from developers. I am not big enough to get that treatment. So I am sorry if I am not an expert in the arguments against BIP 101. My reasons to favor BIP 101 are GROWTH, FEES, LIGHTNING NETWORK, NO FEAR, and NO MORE FIGHTING. GROWTH I expected bitcoin to grow a lot faster than the growth in BIP 101 anyway. FEES Higher fees/kb do not make up for restricted block size! When there is no room for a tx, another tx would have to pay double. That will not happen. It is better to have room to mine the extra tx. LIGHTNING NETWORK Lightning Network sends fees to non-miners. But I am happy to handle the business. Lightning Network does not actually require the bitcoin blockchain! It can easily switch to using another coin and one that does not use SHA256. Nobody uses Lightning Network. Lightning Network does not exist. NO FEAR I will not make a block that is too big for you to process (it would be bad for me). I am not afraid that you will attack me by making blocks that are too big for me to process. When have bitcoin miners ever attacked each other like this? It would be very pessimistic for me to think that you will attack me tomorrow when you have never done it before, and the attack would hurt you anyway. NO MORE FIGHTING BIP 101 is the only BIP that tries to end block size fights for 20 years. Maybe it will not succeed in that. But it is the only BIP that tries.
BIP 101 has activated on the testnet. Need your help to test large blocks.
We have activated BIP 101 on the testnet. The hashpower there after activation is now less than the non-BIP 101 hashpower. This makes for an interesting test. If you would like to help gather data, please run the BIP 101 client of your choice with -testnet and keep the debug.log file to share for data analysis later. The more nodes the better! Transaction spam is welcome and encouraged :)
The Nine Miners of China: "Core is a red herring. Miners have alternative code they can run today that will solve the problem. Choosing not to run it is their fault, and could leave them with warehouses full of expensive heating units and income paid in worthless coins." – /u/tsontar
It's time to stop blaming Core for writing the code miners apparently want to run. Core can offer whatever solutions it wants and miners are allowed to run whatever they want. So let's not blame Core. Instead let's blame the miners for running code that's out of sync with market demand and for shirking their duty as The Deciders. Miners have an option available today that will address the coming problem. Yet they hide behind the excuse of "not wanting to decide." We should be culturally sensitive and recognize it's perhaps culturally understandable that a group of nine Chinese men would be very reluctant to cast a vote. This really shouldn't be underestimated. Chinese are not taught the importance of voting nor are they ingrained with the same sense of individualism as we Americans. Instead the culture is much more obedient - "go along to get along." It's entirely possible that some or all of the Chinese miners want to make a change but none of them know how to take a stand. The danger for miners - and something I see as a real possibility given that they are all Chinese - is that in avoiding the controversy of a hard fork, they will instead create an economic fork, which is where the vast majority of capital flees the currency for another one whose design appears to better fit demand. This will leave Bitcoin miners with warehouses full of very expensive heating units and income paid in worthless coins. Entire ASIC businesses are likely to go bust. Therefore I want to remind all of us that Core is a red herring. Miners have alternative code they can run today that will solve the problem. That they choose not to run it is their responsibility and their fault. TL;DR the 1MB cap is not Core's responsibility - it is a mining failure / attack and should be treated as such.
A subreddit focused on providing open discussion on all things Bitcoin (BSV). jump to content. my subreddits. edit subscriptions. popular-all-random-users AskReddit-news-funny-pics-gaming-aww-tifu-todayilearned-worldnews-mildlyinteresting-gifs-videos-Showerthoughts-movies-science-Jokes-OldSchoolCool-Music-TwoXChromosomes -creepy-sports-Futurology-explainlikeimfive-space-askscience-EarthPorn ... r/bitcoinxt: A subreddit focused on providing open discussion on all things Bitcoin (BSV). Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/bitcoinxt. log in sign up. User account menu. 18. BIP 101 explained. Close. 18. Posted by. u/xd1gital. 4 years ago. Archived. BIP 101 explained . I see a lot of mis-understanding posts around BIP 101. So I ... Da allen Minern aber vor allem daran liegt, dass der Bitcoin benutzt wird und damit die Nachfrage und der Preis möglichst hoch ist, halte ich diese Art von Demokratie für vertretbar, denn der Bitcoin hängt bereits jetzt an den Minern und eine potenzielle 51% Attacke halte ich für viel gefährlicher, als die „Macht“ der Miner bei BIP100, das Limit rauf oder runter zusetzen, denn dies ... BIP 100 proposes a dynamic limit determined by miner preferences expressed in coinbase transactions, with limits on the rate of growth. It gives miners more direct control over the maximum block size, which some people see as an advantage over this proposal and some see as a disadvantage. It is more complex to implement, because the maximum allowed size for a block depends on information ... Team Red Miner 0.7.4 Addressing 4GB VRAM GPUs Support for Ethash; New XMRig 6.0.0-Beta Miner With KAWPOW Support for AMD and Nvidia GPUs; New SRBMiner-MULTI Miner 0.4.5 With Support for Epic Cash (EPIC) Bitmain Antminer T19 Bitcoin ASIC Now Up for Pre-Order; PhoenixMiner 5.0b Update Addressing Support for AMD Cards With 4GB VRAM
How to install Bitcoin Core wallet in any Linux distribution
Top Bitcoin Core Dev Greg Maxwell DevCore: Must watch talk on mining, block size, and more - Duration: 55:04. The Bitcoin Foundation Recommended for you NEWS: Testing BIP 101. Bitcoin Black Friday. Mining for alt energy. - Duration: 5:10. Amanda B. Johnson 831 ... How To Mine Bipcoin with AMD Claymore Cryptonote GPU Miner in Windows No-Gov Crypto ... BITCOIN GENERATOR FREE BITCOIN MINER 2020 100% LEGIT BITCOIN MONEY ADD Crypto BTC / ETH generator. Free to use. .Get your first free cryptocurrency on wallet... Standalone Bitcoin Offline Wallet Printer This is a demo of a protoype bitcoin paper wallet printer I have built. bitcoin bitcoin value bitcoin exchange rate... How to Mine Bitcoins Using Your Own Computer - Duration: 3:36. 99Bitcoins 1,831,289 views. 3:36. Lockheed SR 71 Blackbird - Duration: 15:01. Marshall Ross Thompson Recommended for you. 15:01 ...