I am really getting tired of the Bitcoin scaling debate. It seems to me that one side is pushing an inefficient upgrade, while the other one is trying to fix Bitcoin and save it from the disaster pushed by the other side.
Segwit Sucks
From now on I don't support Segwit. I have done my research and it looks like Segwit is crap. Now this doesn't mean that Bitcoin Unlimited software is good either. It had a lot of bugs lately, which is unacceptable for a 30 billion $ market.
Bitcoin Core is still the more secure, better wallet. However this Segwit thing is just crap, from my perspective. Some people are saying that it has a burden of a 4mb block, while only providing roughly +20% throughput bonus.
Then you also have tons of allegations relating to the Segwit team being blatant liars, whether these allegations are true or not, it's worth investigating:
- https://www.reddit.com/r/btc/comments/6buqbb/no_sw_first_then_2m_in_12_months_simultaneously/
- https://www.reddit.com/r/btc/comments/6buhbi/segwit_effectively_imposes_a_4x_penalty_on_any/
- https://www.reddit.com/r/btc/comments/6btm5u/latest_segwit_trickery_involves_prominent_support/
- https://www.reddit.com/r/btc/comments/6bqpzn/its_clear_that_neither_sw_nor_bu_is_no_longer/dhos10y/
- https://www.reddit.com/r/btc/comments/6btl26/barry_silberts_proposal_is_just_another_bait_and/
And then Bitcointalk moderators are sometimes censoring these news, however the /bitcoin subreddit is just outright censoring it, without a shadow of a doubt.
And you also have a lot of corporate inter-mingling, influence, and derailing of the Bitcoin project into something more corporate friendly, and less user friendly.
Sides
So on one side you have Roger Ver, who is a reputable, well known and well trusted anarcho-capitalist entrepreneur and investor.
And on the other side you have a bunch of no-name coders who barely have any repuration outside Bitcoin, haven't built anything before, and basically came out of nowhere. Who are now totally influenced by the corporate agenda.
So it's a no brainer which side is better. And even the technical arguments have been debunked.
- For example did you know that Bitcoin inherently has a 32 MB block limit? Yes the protocol itself already has a 32 MB block limit. So idiots have been screaming that without a 1MB block limit you'd have 1 Terrabyte blocks filled with malicious botnet spam transaction. Whereas if they had studied the subject, they'd have realized that without the 1 MB limit, the protocol itself still enforces a 32 MB block limit
I guess the Bitcoin subreddit doesn't teach you that. So it's total propaganda environment.
Fees
Now the fees have been going out of hand lately. You have already 1$ fees, which is hardly any different than banks. And of course if the fees are so high, then the banks won't lose competitors, so it's very convenient for banks if Bitcoin has high fees.
So Bitcoin starts to become more and more like a bank account, in fact worse, which is exactly the opposite of what it was created for.
I don't have any influence in Bitcoin, but I tell you this, I will vote with my money. If the fees hit more than 4$, then I am out of Bitcoin.
Sorry folks, if fees get higher then 4$, then you can shove your Buttcoin in your butt, with your 1 MB limit as well, I am out.
And I don't really want that to happen, I still believe that the block size can be raised, but if it doesn't, then I won't tolerate a fee higher than 4$.
I'd rather use Dogecoin, or Steem?
Sources:
https://pixabay.com
