Bitcoin Q&A: Rules versus Rulers


So, just a question from the community Segwit vs Bitcoin Unlimited What is your opinion on it? Ok So, This, this is the kind of a really really difficult question But at the same time is fairly easy

I am in favor of activating SegWit I am in favor of activating SegWit now ( Applauses ) The reason for that, and don't applaud ( Laughs ) Form your own damn opinion ( Laughs ) I am no more the authority you should listen to than anyone else This is not a system of belief where I say: "FC Barcelona" and you go: "Yeeeaah!!" Make up your own mind I'll tell you why I think that's true I think SegWit should be activated now because it solves a number of different problems Its the best tested solution that exists I also think that

I, I will make a disclosure, I used to think that big blocks would be better About two years ago

And I ran Classic and XT to evaluate them I ran Bitcoin Unlimited too Not because I thought that we should hardfork to those But to evaluate the software and understand how it works AndIf the choice was SegWit vs Classic I might say: " You know a year from now we could also do a bump through Classic The problem with Unlimited in my opinion is that it doesn't change the rules it changes, or sets the rulers who then get to change the rules And that is a VERY dangerous thing to do in Bitcoin Specially if it is done as a contentious hardfork I think Bitcoin Unlimited is a completely untested system of consensus If somebody wants to test that with 51% it is going to be an interesting experiment Bitcoin is going to get attacked eventually maybe is better if it gets attacked sooner rather than later If you hold Bitcoin as an investment this would be painful So, hardforking Bitcoin with a low percentage and without Very broad consensus would damage Bitcoin We will end up with two chains that will survive And the sum of their value will be far less than the sum of value we have in Bitcoin today

I think that's a very bad idea Not my choice! However, Here is something I can tell you Bitcoin as a currency; as a means of exchange The way I use it for getting paid for my job works at two hundred dollars At two thousand dollars and at twenty dollars It doesn't change, for me Bitcoin as a stable store of value however, doesn't work with a hardfork So, it really depends on what you use it for And there is probably a broader discussion to be had there

About the Author Dancake

Hey hey hey. It’s Ville and welcome to my blog. I am a tech enthusiast and always looking for ways to generate new income streams. At the moment Bitcoin cloud mining is one of the most promising ones and that’s why I created this website. Hope you like your stay. If you want a quick start guide about making passive income with cloud mining check out this guide.