# Blocksize 24 MB. _No more zero to low fee transactions._ ## It can be done. **In all the Crypto debates, that seem to be going on lately, it seems that mostly it has a focus on the Bitcoin mining battlefield. Will it be BTC or BCH? While a lot of the Bitcoin _purists_ and _maximalists_ still call other Cryptos degradingly _Alts_, all kinds of nonsense is claimed by them too. But when one compares the transaction throughput of Bitshares or Steem for example with that of Bitcoin or Bcash, than it becomes a big laugh really. Just like that almost religious way of getting _[the Bitcoin Whitepaper](https://bitcoin.com/bitcoin.pdf)_ into every conversation. Just like the weird believe that _the group 'Nakamoto Satoshi'_ is a _he_, a male human being. It is a bit strange at least, as the same persons who talk about _Satoshi_ being a _he_, state that they _know_ what _he_ ment with _the Whitpaper_. Now, I do not know what Bitcoin Whitepaper that is supposed to be, but the one I read is written in a plural form, as _we_ 'Nakamoto Satoshi'.** But the biggest laugh of all, is the biggest claim of them all: Bitcoin is the alternative to the financial system, it will replace it. Where some do add that it is supposed to be _The Peoples Money_. Again, this shows that those who make these huge claims do not understand how Bitcoin works and/ or they have not read, nor understood the Whitepaper. As Bitcoin was a proposal to aid the financial system, by replacing the need of a human intermediate with the science of math. And that was ment for a specific kind of digital financial transactions. This created the blockchain technology, that was an innovation on the work of Adam Back, who created HashCash in 1997. Now he is involved with the Bitcoin Core developement. Key issues here being innovation, progression and MIT Free and Open Source licensed. No matter what Bitcoin _purists_ and _maximalists_ on either side belief. It is all in the code... ## This needs to be solved _Core_! How is it even possible that the Bitcoin, BTC, blockchain can be spammed, even to a point where the mempool starts to choke. That is not only because there is not enough transaction capacity in the blocks. Zero to low fee transactions can be used to cause a SPAM attack, flooding the Bitcoin, BTC, network. Does it even matter who does it? There might be Bcash, BCH, _fanatics_ that might consider this to be an ideal way to bring Bitcoin, BTC, down. Yet, the most scary part of that is that anybody could do this. One reason Adam Back created HashCash was to prevent email SPAM floods from being financially interesting. Every email to be send first needed to do a Proof Of Work {POW} mining proces. The receiver could the check the _nonce_ to see if this was truly an email that took some POW before it could be send. Pure genius, HashCash never got adopted, but it was a great idea. That lead to the creation of the Blockchain technology and the second Crypto: Bitcoin, the first _Altcoin_, as HashCash was the first ever Crypto. Now this makes it even more weird that the Core developement team makes Spam Attacking the Bitcoin, BTC, blockchain possible. Do not know if Bcash, BCH, has secured theirs against to _the zero to low fee blockchain SPAM attacks_ though, and how that is with other Cryptos out there. But seems like a severe threat to the survival of at least a few Cryptos out there. One, Bitcoin, already having its mempool filled up to flooding levels. This is no joke, this is a full choke and the Bitcoin Core developement needs to come up with a hardfork, fast. Now, I am not talking to those who are in some self chosen battle here, them self acclaimed _purists_ and _maximalists_ that became almost like _religious fanatics_. No, I am calling out to the wise, those who actually know how it works and what needs to be done. ## Make Bitcoin, BTC, hard like diamond. My proposal to solve this for the time being is containing two major changes to Bitcoin, BTC. Again, I am done with those silly Bitcoin discussions with those who clearly just are without a clou about what 400 billion financial transactions per year means. That means at least 12'675 transactions per seconds. Please do not bugger me with claims that 3 or even 24 or 60 transactions per second is the same! Bitcoin and Ethereum combined lose that _game_ to Bitshares and Steem already, those can do over 3333 transactions per second. They already could take over the debit- and creditcard financial transactions, not Bitcoin. So if some blockchain technology is close to becoming the peoples money than it will be Steem and SMTs, BTS or EOS. But Bitcoin, BTC, does need an upgrade fast. Before SegWit, Lightning Network and Sidechains can even be used to get to those 12'675 transactions per second and more. First, rip _the zero to low fee transactions_ out. These kind of transactions can always be done in a later stage on a Sidechain, that is called _BitTips_ or something. Next set the maximum blocksize to 24 MegaByte, real binary MBs. Yes, that is huge and if the blocks would be filled constantly that would be quite a strain on the Bitcoin, BTC, Peer to Peer network. But, part of this vertical scaling solution is to clear out the mempool as fast as possible. And maybe it could be constructed as a temporary blocksize, or a dynamic one, with a smart compressor-limiter of 24. That is what I leave the clever Core developers with to solve. Yet I think it is time that the Core developers got real and look at the state where their innovations are at. Is Lightning Network stable and ready to go live? ## Let's do this! In the meantime there is this real thing, a mempool filling up rapidly with useless transactions, that are not realisticly to be handled by a blockchain that could only do between 3 and 72 transactions per second. With maybe some more now and then about just above a 100. It just can not do it, right now, nor tomorrow. Bcash can not do it, Bitcoin can not do it. But there seems to be an urgent matter that has to be taken care of. From my point of view at least. Now, I also dare to predict that when the Core developement handle these challenges and fix them fast, then the price of BTC will blast through the next ceiling. Where 10'000 USD is only the beginning. Because what Bitcoin BTC has become is what it is about in the here and now, that is a storage of high value. That can do without tens of thousands of transactions per second. (That would need 4 Giga Byte sized blocks, at least, by the way...) And looking at the capital that already is invested in Bitcoin, BTC, it might be a jolly good idea to make sure that is secured, for now, and for future use. That means something needs to be done, action needs to be taken. Even Bitcoins SegWit 2X already gave hope to a lot. No wonder that after that got cancelled panic broke out and a lot move, temporarily, to Bcash, BCH, but that is no solution either. Yet, no matter who is doing those SPAM transaction attacks, it needs to be taken care of. And that is simple, but it needs a hardfork for Bitcoin BTC. No more zero to low fee transactions and a (dynamic) blocksize with a 24 MB limit. (As that is probably what the current state of hardware and network technology can handle.) This will have that overfilled mempool cleared out at no time. If the Core developers refuse to take the needed action then the community could always create Diamond Bitcoin, enough talent out there to make it happen. If that is what it takes, than so be it... What ticker shall we take: BCD? <center> _Bitcoin, it can be hard as diamond._  _Image CC0 licensed by @oaldamster._ </center>
author | oaldamster |
---|---|
permlink | diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant |
category | bitcoin |
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Some lucid points @oaldamster thanks for the information and your thoughts on it. Who knows maybe all is mute on the regular folks side, LTC or Steem maybe a better answer.
author | kyusho |
---|---|
permlink | re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t130730582z |
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Fed? Come on Fed, I know you're in here somewhere. Reveal yourself just this one time.
author | nokodemion |
---|---|
permlink | re-kyusho-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t142615660z |
category | bitcoin |
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Aye?
author | oaldamster |
---|---|
permlink | re-nokodemion-re-kyusho-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t153523959z |
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Glad to know you appreciate it @kyusho. Yes, I think that the believed _alternative system_ and _the peoples money_, is simply unrealistic. And the most any Bitcoin technolgy is mostly outdated. Bitcoin BTC got a purpose that fits in with its slow behavior, but that is mainly for capital storage and getting a huge Return On Investment. Bitcoin Cash, BCH, is even almost like a step back into the stone-age. Ripping horizontal scaling out in favour of the short-term thinking mining farms? That one really stunned me. And I do expect more from really innovating technologies like Bitshares and Steem too, SMTs are going to kick it up a notch or two. EOS on the horizon, I'm looking forward to that. But also SegWit Cryptos can do some horizontal scaling that will give it much more potential. One thing is sure, it stays exciting, never a dull moment in the Cryptos realm.
author | oaldamster |
---|---|
permlink | re-kyusho-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t133418772z |
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celsius100 | 0 | 48,475,264,712 | 100% |
Yeah the excitement is great, for a hobby type investor outlook. I would really hate to be a trader rather than a buy and shelf type player.
author | kyusho |
---|---|
permlink | re-oaldamster-re-kyusho-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t150121334z |
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Bitcoin is not an alternative to the fraudulent financial system. Bitcoin cash may very well be. There were people at some point convinced that the car will never replace horse and carriage. They were either blind or had a carriage business.
author | thename |
---|---|
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You need to have major big balls to buy bitcoin from this price.
author | nokodemion |
---|---|
permlink | re-thename-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t142423531z |
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And quite some capital to support that.
author | oaldamster |
---|---|
permlink | re-nokodemion-re-thename-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t153434095z |
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Bcash does 24 (with a future reserve of 48) transactions per second. Needed are at least 12'675 transactions per second. It is simple mathematics. It would fill 4GB blocks constantly every 10 minutes for a year. That is 576 GB per 24 hours, or 205 Tera Byte per year. That would be if it had to be solved with vertical scaling. But that does not take into account that there will be peaks in the transactions per second. That would mean 4 Giga Byte blocks are really the absolute minimum. Now, I am calculating this with the assumption that this is what is supposed to happen, from a Bcash point of view. The technical challenges this brings forth are too big to handle currently. And I had an Amiga 500, only 512 Kilo Byte memory, with expansion got it to 1 Mega Byte. Could hold one round of BTC transactions. That was top notch, 30 years ago. Now I am working on a PC with 4 Giga Byte of RAM. That might hold such a huge block. But there are also computer with 128 GB or RAM, true also. At this rate that could mean we are going towards Tera Byte RAM in the league of 16 TB, correct me if I calculate wrongly here please. Now that would be in about 30 years time, but it could be in 10. Maybe the first TB of RAM in 5 years, but only for those who have the capital to buy it. And it could even go exponential. Moore's law sometimes surprises itself. Now the network would have to be completely glass-fiber. ASIC miners would have to have a lot of expensive memory, that will become cheaper, but might lead to a more and more centralized control. This accounts for BCH too, as well as BTC. All this taken into account I do not see it happen soon, nor tomorrow. Although in an optimized testing enviroment it might be done, as I came understood thanks to you that mining 1 GB blocks is possible that way in a lab. And there it probably will stay a while longer. ## Bitcoin Unlimited and Bitcoin Cash Well known Bitcoin (Unlimited) entrepeneurs like mister Craig Wright have stated that the banks will get in and the governments to. A presentation I saw of him, in a two hour video recorded at a Bitcoin Unlimited {BU} congres in Arnhem, last summer, also was in line with your reply, for a part. Now, I know BU and BCH are friends, and they support each others goals. And it was about _the future_, in that presentation too, for a part. Then there were the usual attacks against SegWit and so on. Want to stay out off that. From what I saw and heard mister Wright is an entrepeneur, first of all, and he sees himself as a capitalist. Not an anarchist, not an ancap, not a libertarian or voluntaryist. That is okay with me. But he made it very clear in his presentation. Although from the videos I have seen with him in a leading role he can be quite outspoken passionate about Bitcoin, the way he sees it. And he would probably have give me a fogging swearing and that I'm an idiot and what not. And then he'd tell me to Fog off. A few times. Besides that I do believe what he told in that presentation. That he would get the banks in, that he would get the goverment in and that Bitcoin was not supposed to be some anarchist thing. It was all about business and he is an entrepeneur in Bitcoin. And he did explain that Moore's law will make it possible for Bitcoin to handle all financial transactions in a year. In the future. And I do agree that it could be done. In 10 to 30 years. But the thing that really horrofied me was not his claim that he considers himself mainly a capitalist entrepeneur. Nor that he wants banks and governments in. No, he wants technology patented, that was the most scary part to me. Forget that _the peoples money_, not in his book. ## Sidechains, horizontal scaling. Why I do not believe in the, through Chinese companies ViaBTC and Bitmain, _big blocks only_ constructed Bcash, BCH, is that it only has its focus on vertical scaling. And really, when I consider what would be needed in blocksize to replace the current financial system with Bcash, than I can not take it seriously. Not now, not tomorrow. The gap between 8 or 16 or even 20 MB blocks and at least 4 GB is huge. This is not going to be solved within 5 years, with just vertical scaling. And I think it is reasonable to expect 5 to 8 GB blocks will be needed. Bitshares, Steem and EOS might be able to pull it off though. But I really want to dive into the mathematics before I start to call that them the ultimate alternative system. As I do have my doubts. But the are closer to solving it than Bitcoin BTC or Bitcoin Cash ever will be, nor Ethereum. If there is to be a real alternative soon, than it needs to implement horizontal scaling. Now I could state there are people who believe one core CPU is great. While there are multi-cores. But with the 10.000 single core CPUs I have in stock, I will probsably still promote those as the best ever. That goes for Bitcoin Cash, Bcash, BCH, holders too. There is technology that makes Bcash almost look like an anarchronism, while Bitcoin Core at least tries to innovate with horizontal scaling. But do fail big time now, from my point of view seen. We here at Steem can prove it is outdated energy wasting technology though. Any Bitcoin version doing SHA256 is historical almost, like the dinosaurs under the Cryptos. As we have SHA3 these days, and many other modern ones. Warming up the earth less. Also the Bitcoin mining market is dominated by Chinese companies and mining farms, that even created Bitcoin Cash, Bcash, BCH. That is in a country with a centrally controlling government. That already closed down Crypto exchanges. A government with old people in it, planning for years ahead. Now, how safe would Bcash or any Crypto be, when it is under Chinese law and order control. Also these mining pools flip-flop over all the time. Would be intersting to say what side they swing towards today. ## We'll see. The best we can come to is an agree to disagree, I guess. And that is okay too. The conversations with you I do appreciate as it also stimulates me to dig deeper into the matter. Peace.
author | oaldamster |
---|---|
permlink | re-thename-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t132413613z |
category | bitcoin |
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And you know this because, someone said so??
author | nokodemion |
---|---|
permlink | re-oaldamster-re-thename-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t142505761z |
category | bitcoin |
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author_reputation | 6,059,124,243,903 |
root_title | "Diamond Bitcoin a Core hardfork proposal, scaleable and spam resistant." |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 20,363,433 |
net_rshares | 0 |
'In order to replace the carriage we'd have to increase the cylinder size! That would use too much fuel. We don't have enough fuel to do that. Ergo: the car will never replace the carriage!' I don't think it's about the technology... It's about politics and people trying to slow down change they see as a threat to the status quo. Bcash is a political term by the way... I think you are a good guy. One day we have a beer together. I pay.
author | thename |
---|---|
permlink | re-oaldamster-re-thename-re-oaldamster-diamond-bitcoin-a-core-hardfork-proposal-scaleable-and-spam-resistant-20171114t135321624z |
category | bitcoin |
json_metadata | {"tags":["bitcoin"],"app":"steemit/0.1"} |
created | 2017-11-14 13:53:33 |
last_update | 2017-11-14 13:53:33 |
depth | 3 |
children | 1 |
last_payout | 2017-11-21 13:53:33 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 443 |
author_reputation | 233,782,835,281 |
root_title | "Diamond Bitcoin a Core hardfork proposal, scaleable and spam resistant." |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 20,360,113 |
net_rshares | 4,343,750,161 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
oaldamster | 0 | 4,343,750,161 | 25% |