Crypto News & ICO Reviews
So serious question for redditors (those on the channel that are BTC invested or philosophically interested in the societal implications of bitcoin): which outcome would you prefer to see:
- either status quo (though kind of high fees for retail uses) or soft-fork to segwit which is well tested, well supported and not controversial as an incremental step to most industry and users (https://bitcoincore.org/en/segwit_adoption/) And the activation of an ETF pushing a predicted price jump into the $2000 range and holding through end of year.
- someone tries to intentionally trigger a contentious hard-fork, split bitcoin in 2 or 3 part-currencies (like ETC / ETH) the bitcoin ETFs get delayed in the confusion, price correction that takes a few years to recover if ever
IMO we should focus on today, what is ready and possible now, not what could have been if various people had collaborated or been more constructive in the past. It is easy to become part of the problem if you dwell in the past and what might have been. I like to think I was constructive at all stages, and that's basically the best you can do – try to be part of the solution and dont hold grudges, assume good faith etc.
A hard-fork under contentious circumstances is just asking for a negative outcome IMO and forcing things by network or hashrate attack is will not be well received either – no one wants a monopoly to bully them, even if the monopoly is right! The point is the method not the effect – behaving in a mutually disrespectful or forceful way will lead to problems – and this should be predictable by imagining how you would feel about it yourself.
Personally I think some of the fork proposals that Johnson Lau and some of the earlier ones form Luke are quite interesting and Bitcoin could maybe do one of those at a later stage once segwit has activated and schnorr aggregation given us more on-chain throughput, and lightning network running for micropayments and some retail, plus better network transmission like weak blocks or other proposals. Most of these things are not my ideas, but I had a go at describing the dependencies and how they work on this explainer at /u/slush0 's meetup https://www.youtube.com/watch?v=HEZAlNBJjA0&t=1h0m
I think we all think Bitcoin is really cool and I want Bitcoin to succeed, it is the coolest thing ever. Screwing up Bitcoin itself would be mutually dumb squabbling and killing the goose that laid the golden egg for no particular reason. Whether you think you are in the technical right, or are purer at divining the true meaning of satoshi quotes is not really relevant – we need to work within what is mutually acceptable and incremental steps IMO.
We have an enormous about of technical innovations taking effect at present with segwit improving a big checklist of things https://bitcoincore.org/en/2016/01/26/segwit-benefits/ and lightning with more scale for retail and micropayments, network compression, FIBRE, schnorr signature aggregation, plus more investors, ETF activity on the horizon, and geopolitical events which are bullish for digital gold as a hedge. Time for moon not in-fighting.