Bitcoin News #42 – UASF, State of Bitcoin, ICOS & Regulation

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Bitcoin news for the week of June 5th with your hosts @theonevortex, @lopp, @eric_lombrozo, @lightcoin, and special guest @SimonDixonTwitt!

First Half Topics:
-UASF
-State of Bitcoin

Second Half with Special Guest:
-ICOs
-ICOs vs Traditional funding
-Regulation Progress

Links:

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29 thoughts on “Bitcoin News #42 – UASF, State of Bitcoin, ICOS & Regulation

  1. When did devs dictate what software users need? Users have rejected segwit, competent devs would listen and provide a solution that meets users needs.

    1. “Users have rejected segwit”

      False, over 95% of the network runs Core and over 80% of the hashing power and community wanted segwit in the recent New York agreement.

  2. 26:30 it really is obvious why they want to change the activation method, miners are mad they are not getting their compromise for bigger blocks, everyone wants segwit, but for miners they believe they have justification to also demand a blocksize increase. Without changing the activation method, they can’t guarantee nobody will follow through with the hardfork. This will not work because the reality is that node runners have the last say

  3. The miner’s job is to secure the network, for which they get extremely well paid – not to the fill blocks with spam, slow things down, increase fees, cheat in any way they can, block progress…

    1. The artificially limited block size is what has caused the high fees , slow tx and finally the mass exodus to Alt’s. If the temporary 1MB restriction was removed certain people could not implement their theoretical layer 2 scaling / skimming system. Unfortunately they will all learn the very hard way by waking up to bitcoin losing it’s market share due to it’s high fees and ultra slow tx. You will notice the more successful Alt’s will be the ones with the fastest and cheapest on-chain tx throughput. If people don’t get rid of this temporary 1MB limit then I’m afraid to say it’s over folks. The flip will be as quick as it takes the weather to change and this idiocy of not removing the temporary 1MB limit will go down in history as one of the most foolish things ever done in this space.

  4. Why do you ask “why did they delay Segwit?”, or “why are they still blocking and delaying”? You know the answer, guaranteed short term enrichment and a power trip. Say it. Let them answer it – with a good Chinese translator. They have another 6-7 weeks of crooked profits, period. – otherwise they will just continue delaying, playing upset, playing nice, false signalling, playing dumb, playing “business-like”, playing professional, playing whatever.

  5. @JohnLight. You say you don’t understand why Segwit2x want to activate Segwit together with a lock-in for 2MB. The reason is of course that if you and many segwit(only) supporters will not honour the 2MB blockchain raise if that is not already in the software. Becuse of this new bundle everybody only need to update to get the segwit and then the software will also give people 2 MB a little later. You also say that almost everyone supports segwit. This is not true but the compromise was that if 2MB blocksize is implemented then they can live with the segwit beeing included too. Without the compromise segwit will not be close to a majority. And the “reimplementation of segwit” is just activating on a different bit (segwit is the same) so users will need to update to get the budnle. Accept the comprimise or you are the one who is stalling.

    1. Thanks Tone! You and madbitcoins did such a great job of talking about the technical details of UASF that I thought it might be more appropriate to just get a general idea of what everyone is thinking about the UASF at this time rather than dive too much into the details of how it actually works.

  6. in fact they destroyed every users mining operations worldwide, now act like idiots & earned 100s of millions with their centralized mining scams, ASICboost & chips distribution. Why the bitcoin owners will not fight back with legit power?

    User activated softfork with POS to brake that idiots business finally.

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