RE: Bitcoin Unlimited to Actually Fork BTC Before SegWit ? Keep eye on LTC too!

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Bitcoin Unlimited to Actually Fork BTC Before SegWit ? Keep eye on LTC too!

in bitcoin •  8 years ago 

other than the fan camps, is one actually a clear winner in regards to the future stability and usability of bitcoin?

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The best way to achieve stability is to do nothing, which is what most people are doing. Bitcoin is stable now. Any changes to bitcoin can bring only the same level of stability, or reduce it.

I think inactivity is the biggest risk at all at the moment.

I do believe most of the bitcoin value is built on a promise that bitcoin will be a viable payments technology - to get there we still need more adoption and more growth in transaction volume. As compared to other crypto currencies, the most significant value with bitcoin is the network effect - to keep staying there we also need growth in adoption and transaction volume. We are currently hitting the ceiling, we are at max throughput - all due to an artificial block size limit that was "temporarily" added to the system in 2009 or 2010 (when average block size was few kilobytes) to avoid a rogue miner to create extremely big blocks. There is no room for adoption or growth!