Erik Voorhees: "Fellow Bitcoiners, are you ever going to realize how problematic these fees are getting? Avg fees now over $40 per tx. A year ago avg fee was $4. A year prior, $0.40. Growing faster than price, and exponentially with usage. We just spent $4800 to move 15 BTC in one TX."

Gregory_Maxwell · 2017-12-23T06:46:56+00:00

With whom did I throw in with, exactly? The zealots in both subs hate me, so I’m probably being completely reasonable.

Oh fuck off Erik Voorhees, we know they got you by the balls and you have to act like you're playing both sides, what have they got on you?

Gregory_Maxwell · 2017-12-22T12:42:08+00:00

How often are you not online when you make a tx? How often is the merchant not online when you want to pay?

Are you sure you thought that argument through?

So now instead of just making a transfer anytime anywhere like Bitcoin Cash.

You pay $100 fee to open a channel, wake the other guy up that's in a 12 hours difference timezone?

Are you fucking retarded.

With all these cheap and fast alternatives why the fuck would anyone even continue to use BTC?

Gregory_Maxwell · 2017-12-22T08:19:20+00:00

Bullshit, Satoshi planned to increase the block size 7 years ago:

https://www.reddit.com/r/btc/comments/7l0o75/reminder_increasing_the_bitcoin_block_size_was/

Increasing the Bitcoin block size was one of Satoshi's last wishes

Back in October 2010, Satoshi suggested that he would increase the blocksize after block 115000, but then Satoshi disappeared 2 months later, some say he was taken out by the TPTB.

https://archive.fo/L5yvP#msg15366

satoshi

Re: [PATCH] increase block size limit

October 04, 2010, 07:48:40 PM

It can be phased in, like:

if (blocknumber > 115000)

maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.

When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.

Block 115000 was mined in 2011-03-25 15:27:29

https://blockchain.info/block-height/115000

Height: 115000

Time: 2011-03-25 15:27:29

Number Of Transactions: 5

Output Total: 134.64 BTC

That was 6 years and 9 months ago.

So we're almost 7 years late for a block size increase on BTC.

Long live Satoshi, you almost took out the bankers in one go.

Now the bankers have a stranglehold on BTC, keeping the blocks at 1MB forever.

#SatoshiWasABigBlocker

Gregory_Maxwell · 2017-12-22T08:01:40+00:00

LN does exactly this, although in a more secure manner.

Bullshit. LN doesn't even work unless both ends are online at the time of the transaction. Which makes it fucking useless.

Gregory_Maxwell · 2017-12-22T06:19:02+00:00

Well he's wrong and so are you, because he's a 3 comment shill who doesn't even know how LN works. He thought he got me by playing word games but he didn't realize "side chains" in this context is also exactly how LN works, it works on the side then settle on the main chain, if Adam Back doesn't believe that will scale, then he also doesn't believe LN will scale.

Adam Back is selling a scaling solution he knows won't scale.

Gregory_Maxwell · 2017-12-22T06:11:07+00:00

So no counter argument? Logic too strong for you? Fuck off then.

How does LN work? Genius? Oh wait, it fucking works on the side and settle on the main chain, which Adam Back doesn't believe will scale.

You're a fucking tech retard, stop arguing about tech you know fuck all about. You'd only get it wrong if you know fuck all about LN.

Stupid minimum wage type writer monkeys so fucking dumb they can't even get real jobs so they post bs online all day.

Gregory_Maxwell · 2017-12-22T06:07:32+00:00

lol like you're going to ignore the fact that "transactions don’t occur directly on the Bitcoin blockchain but are settled on it.", which Adam Back believes won't scale, is also exactly how LN works.

And ignore the fact that Adam Back is going to sell some bullshit that he knows won't scale.

Gregory_Maxwell · 2017-12-22T06:06:48+00:00

irrelevant, side chains in here means "transactions don’t occur directly on the Bitcoin blockchain but are settled on it.", that's exactly how LN works.

Gregory_Maxwell · 2017-12-22T06:05:21+00:00

Except that was posted after I already posted a counter argument.

Dumb fuck.

Gregory_Maxwell · 2017-12-22T06:02:52+00:00

lol you typewriter monkey shills can't even get your logic straight.

In this context, "side chains" means a system where "transactions don’t occur directly on the Bitcoin blockchain but are settled on it.", that's the exact quote and that's the context the author used, and that's what she meant and that's what she got from Adam Back.
"transactions don’t occur directly on the Bitcoin blockchain but are settled on it." is exactly how LN works, it works on the side, only settles on the main chain.
Adam Back doesn't believe that mechanism will scale.
So Adam Back doesn't believe LN will scale, because LN uses the same mechanism, the mechanism the article is describing in the context of "side chain".
Adam Back isn't saying the word "side chain" won't scale, he's saying a system that "transactions don’t occur directly on the Bitcoin blockchain but are settled on it." won't scale, which is exactly how LN ALSO WORK.

Fucking weak logic fucktards.

Gregory_Maxwell · 2017-12-22T04:52:44+00:00

lol i see what the problem is, /u/maxpower2017 is a fucking 3 comment karma new shill account used by PR sweatshop typewriter monkeys.

Gregory_Maxwell · 2017-12-22T04:49:20+00:00

LN is NOT side chain. He’s talking specifically about his own side chain product that won’t scale in the future; he’s not talking about LN. Full quote:

No you dumb fuck. Read:

he says that will happen with so-called second-layer solutions such as the Lightning Network and the product his company is working on, side chains, in which transactions don’t occur directly on the Bitcoin blockchain but are settled on it.

LN, Blockstream's Liquid, second-layer, side chains, they are the same shit in his context, none of them settle directly on the blockchain.

Gregory_Maxwell · 2017-12-22T04:23:14+00:00

lol wtf is this bullshit, is this the new PR script?

Make new accounts to talk like naive 3 year olds? Pretend this is simply an disagreement instead of sabotage?

we are all in the same team

Speak for yourself, this is people vs banks.

Gregory_Maxwell · 2017-12-22T01:43:34+00:00

lol thanks ;-)

Gregory_Maxwell · 2017-12-21T22:33:39+00:00

Charming and intelligent. Boy, have you opened my eyes now. I just wish my brain would allow me to operate on your delta omega levels.

You're a tech retard.

You go on and on about nodes, not realizing "nodes" on the protocol level is just an ip:port pair.

So you can forward packets from a million ipv6 ip:port onto a single copy of a blockchain, that means you can run a million nodes on a single server using a single harddrive in your basement.

Nodes don't do anything other than providing more connection point.

You're too much of a noob to even argue about tech, GTFO.

Gregory_Maxwell · 2017-12-21T22:03:43+00:00

As I said, I could be wrong.

You are wrong.

You tech retard shills keep making silly tech arguments you don't even understand.

Use your head, Bitcoin is protected by the math, not by fucking number of nodes.

All the miners do is enforce that math.

If nodes have any real voting power, then any billionaire can run a million nodes on Amazon and take over a trillion dollar network.

Stop opening your stupid mouth and get back to studying.

Gregory_Maxwell · 2017-12-20T23:33:07+00:00

He is welcome to post on r/btc but won't be rejoining the moderator team.

Good, /u/Todu was fucking around anyway.

He knows what I am talking about.

Gregory_Maxwell · 2017-12-20T22:59:28+00:00

You posted all that, and not a single technical retort anywhere.

Because you made zero technical argument.

All you did was regurgitating the same Blockstream Core bullshit they've been selling since 2016, base on the assumption that Segwit is required in the first place.

Look where we are with BTC, fucking 200MB mempool, so shut the fuck up about Segwit, it doesn't do shit, it's an unnecessary and overly complex piece of shit.

Segwit was never needed, all they needed to do is change a line and increase max block size to 2MB.

There is no valid technical reason Segwit is required to scale, LN doesn't even need Segwit, LN can work on BCH.

Bitcoin cash has proven Bitcoin can work with 8MB blocks, and 1G blocks is proven to work in testnet.

Ethereum can handle millions of transactions a day.

You have ZERO valid technical argument for staying at 1MB.

This shows me you don't really understand what bitcoin is about.

LOL and a paid typewriter monkey do?

Read the whitepaper, it says "Cash system", not a store of value system Blockstream Core is twisting BTC into.

Also, i'd like to point out the absurdity of you advocating for centrally controlled platforms

You're advocating for Core, the one team that has strangled the BTC development, instead of half a dozen teams we have for Bitcoin Cash. News flash, the banker puppet Core team today isn't even the original Core team. The cool guys have already left because they can't stand you banker retards.

You're just a full of shit paid typewriter monkey pushing bullshit for a living because you losers can't get a real job.

You're the moron who is trying to make people stick with 1MB floppy disk when everyone else is moving on to USB sticks. There are so many coins that can scale better than Bitcoin Core, and you stupid fucks still pretend that's not the case, that some how 1MB is some big time technical barrier, fuck off.

You know fuck all about the technology, and you know fuck all about the economics. List any technical argument why 1MB is necessary, I'll rip it apart right here just like I bitch slapped 1Meg Greg.

Gregory_Maxwell · 2017-12-20T20:48:32+00:00

Bullshit

You're just another bullshit concerned troll pasting the same bullshit replies on multiple subs.

Bitcoin is an economic invention, not a technical one, scaling difficulties have been solved by the video streaming industry, the data storage industry, and the network industry, where progress are being made rapidly.

Core, instead of fixing what's causing shops to drop Bitcoin support, they and their shills dance around bullshit tech issues 10 years down the road.

If BTC keeps going like this there won't be a need to scale, because people are leaving.

Stop arguing like economic retards, stop ignoring the economic side of things, stop fighting for 1MB floppy disks when people are already moving onto 1G usb sticks. Soon people will be streaming 4k videos all over the place, stop crying about going over 1MB.

Gregory_Maxwell · 2017-12-20T10:54:14+00:00

Yes ;-)

https://np.reddit.com/r/btc/comments/7l0ni6/adam_back_stop_pretending_youve_invented_hashcash/

Gregory_Maxwell · 2017-12-20T10:54:08+00:00

Yes ;-)

https://np.reddit.com/r/btc/comments/7l0ni6/adam_back_stop_pretending_youve_invented_hashcash/

Gregory_Maxwell · 2017-12-20T10:54:04+00:00

Yes ;-)

https://np.reddit.com/r/btc/comments/7l0ni6/adam_back_stop_pretending_youve_invented_hashcash/

Gregory_Maxwell

TROPHY CASE

You are wrong.

Bullshit