Quick Bitcoin/Pre-Christmas modest blocksize max increase
3 messages, 14 to 16 Sep 2015. Started by Jason Livesay.
Jason Livesay, gladoscc, phm
After studying the issues I believe that the situation warrants a short-term modest blockchain increase. Somewhere between 2mb-5mb, whatever the community will swallow. I recommend that happen before the winter shopping rush.
Then, because of the fundamental technical limitations of scaling, a new system needs to be adopted for fast transactions. To maintain momentum etc., the new system ultimately settles with traditional bitcoins.
In order to keep the existing brand momentum, network, and business investment, I believe the smoothest path forward is to build a new, additional system re-using the bitcoin name. I suggest this new system come packaged with the bitcoin core client and be referred to as QuickBitcoin or qbtc or something similar. As far as the public is concerned it could simply continue to be called bitcoin. The system will work on top of traditional bitcoins but have a mechanism for more/faster transactions. Exactly what mechanism doesn't have to be perfect, it just needs to be reasonably secure/useful and something that the community will accept.
I believe this is the best way to scale bitcoin while maintaining the strength of its existing network, community, and branding.
I appreciate your interest in Bitcoin, but I trust that you understand your proposal adds nothing to the current discussion and recommend you read more emails from this mailing list. On 14/09/2015 11:47 am, "Jason Livesay via bitcoin-dev" < bitcoin-dev@lists•linuxfoundation•org> wrote:
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> After studying the issues I believe that the situation warrants a > short-term modest blockchain increase. Somewhere between 2mb-5mb, whatever > the community will swallow. I recommend that happen before the winter > shopping rush. > > Then, because of the fundamental technical limitations of scaling, a new > system needs to be adopted for fast transactions. To maintain momentum > etc., the new system ultimately settles with traditional bitcoins. > > In order to keep the existing brand momentum, network, and business > investment, I believe the smoothest path forward is to build a new, > additional system re-using the bitcoin name. I suggest this new system > come packaged with the bitcoin core client and be referred to as > QuickBitcoin or qbtc or something similar. As far as the public is > concerned it could simply continue to be called bitcoin. The system will > work on top of traditional bitcoins but have a mechanism for more/faster > transactions. Exactly what mechanism doesn't have to be perfect, it just > needs to be reasonably secure/useful and something that the community will > accept. > > I believe this is the best way to scale bitcoin while maintaining the > strength of its existing network, community, and branding. > > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists•linuxfoundation•org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > >
Jason Livesay via bitcoin-dev wrote:
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> In order to keep the existing brand momentum, network, and business > investment,
These are precisely the issues that the Bitcoin Development team SHOULD NOT concern themselves with as they are not technical in nature.
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> I believe the smoothest path forward is to build a new, additional > system re-using the bitcoin name. I suggest this new system come > packaged with the bitcoin core client and be referred to as > QuickBitcoin or qbtc or something similar. As far as the public is > concerned it could simply continue to be called bitcoin. The system > will work on top of traditional bitcoins but have a mechanism for > more/faster transactions. Exactly what mechanism doesn't have to be > perfect, it just needs to be reasonably secure/useful and something > that the community will accept.
A few members of the development team have already begun doing something along these lines but its future does not look promising.
I do not see any indication that this Christmas will be any more or less busy than last Christmas. Correct me if I'm wrong, but retail spending as a whole still makes up only a small percentage of Bitcoin transactions.
phm http://phm.link