Archived Can someone please give me a rundown on this whole XT thing? (bitcoin)
submitted ago by InternetTuffGuy
Posted by: InternetTuffGuy
Posting time: 5.3 years ago on
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Archived on: 2/12/2017 1:51:00 AM
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Archived Can someone please give me a rundown on this whole XT thing? (bitcoin)
submitted ago by InternetTuffGuy
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[–] KurtB 0 points 4 points 4 points (+4|-0) ago (edited ago)
I am not here for cheap votes, I didn't follow the debate until this week. Basically, the block size matters as much as the number of Bitcoins that can possibly exist. -- Which is: Not at all; provided they don't change.
What matters is stability.
Theoretically: If 2 US developers can drum up enough popular support to impose changes of that scale, Bitcoin isn't worth a quarter Fed. Technically: I am not getting into this debate.
If some people want to make a lot small, cheap, transactions they can a) bundle/compress, b) use other chains, c) Append 7MB of XT to a core block, d) be creative ... Bitcoin is not and should not be the only solution.
If some people want to store more information cheaply on a trustless layer, they should help build the safenetwork.io.
However, it's best to listen to the diverse arguments, what you find is that everybody had a different idea of what Bitcoin could be/should be. Some like it to be Western Union, or Visa, others Dropbox, NASDAQ a Casino or a voting back-end for elections.
They forget what the Bitcoin Blockchain is: Free of disorder and uncertainty, the most stable place in the known universe.