Block size limit controversy - Bitcoin Wiki

Bitcoin Halving

Bitcoin Halving The bitcoin protocol specifies that the reward for adding a block will be halved approximately every four years. Eventually, the reward will decrease to zero, and the limit of 21 million bitcoins will be reached c. 2140; the record keeping will then be rewarded by transaction fees solely http://www.satoshi.pl
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SATS is a decentralized deflationary privacy token

SATS is a failed project that never got off the ground due to either ineptitude or pure laziness on the part of the failed developer.
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Nutcoin

Nutcoin - The Anti Scarcity Stabilized Currency
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Best explanation for solving bitcoin transaction 'limits' without increasing blocksize I've seen, and this is from 2 years ago!

Best explanation for solving bitcoin transaction 'limits' without increasing blocksize I've seen, and this is from 2 years ago! submitted by FMTY to Bitcoin [link] [comments]

If bitcoins' transaction limit is around 5-7 tps, what are currently the limits on other popular cryptocurrencies ? /r/Bitcoin

If bitcoins' transaction limit is around 5-7 tps, what are currently the limits on other popular cryptocurrencies ? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Segregated Witness has been released, tackling bitcoin's transaction limit

Segregated Witness has been released, tackling bitcoin's transaction limit submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Segregated Witness has been released, tackling bitcoin's transaction limit

Segregated Witness has been released, tackling bitcoin's transaction limit submitted by NewsAtBraveNewCoin to BraveNewCoin [link] [comments]

New Bitcoin Transaction Limit

New Bitcoin Transaction Limit submitted by ThePanCakeKid95 to Bitcoin [link] [comments]

Recent developments in transaction volume on the Bitcoin network show very nicely how keeping the block size limit at 1MB was the correct decision.

https://www.blockchain.com/charts/n-transactions
Those two abrupt declines in volume were caused by the companies Veriblock and Coinbase respectively (I think this is the result of Coinbase batching, correct me if I'm wrong).
Whatever territory you give them, they will take. Veriblock will just spam the blockchain with its useless crap if it's cheap enough. There has to be a fee market, and those who use the blockchain inefficiently must be made to pay until they improve their practices. Otherwise why would they ever bother to do things better?
luke-jr was probably right when he said the block size should actually be decreased. It could have hastened adoption by making running a node easier. But of course, consensus is the name of the game and neither he nor the big-blockers could get it.
NB: Technically the current limit with segwit is 4 MWU (million weight units), corresponding in practice to a usual limit of around ~2 MB.
submitted by Mccawsleftfoot to Bitcoin [link] [comments]

Bull Bitcoin relief: lower fees and higher transaction limits

Bull Bitcoin relief: lower fees and higher transaction limits submitted by Fiach_Dubh to BitcoinCA [link] [comments]

Lightning Frustrations

How does bitcoin blockchain really help this amazing lightning network. How does it help??
If lightning will be so great, why can't it function without closing channels on bitcoin blockchain. Why can't it exist without segwit?
It makes no sense to me and makes me unhappy.
Why is an on chain bitcoin transaction so important to allow lightning to function. If it can process millions of transactions per second, why even settle anywhere?
I suspect the answer is that it CANT.
Build this thing without closing channels. Build this thing away from the protocol.
Honestly I'd like to here reasoning as to why the lightning actually needs our bitcoin network to function.
I am also furious that we can't grow bitcoin without this pie in the sky lightning idea. Raise the bitcoin transaction limit already. Transactions are a big part of a transaction network. SO MUCH HYPE
submitted by Happy5488Paint to btc [link] [comments]

ELI5 How and what is being done to lower transaction fees? Are we limited to the original code? (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Bitcoin transactions have doubled over the last 6 months. What happens when they double again?

Bitcoin transactions are currently at the all-time-high, at the level of the height of the last bull run again.
https://i.imgur.com/0AFL4xV
On the one hand this is good, because it shows that there is a lot of interest in Bitcoin.
However, with 100% Segwit adoption, we can take 50% more in transactions than in December 2017.
That also means that we can only take 50% more than the transactions are right now before fees become really high again. This can already happen with a small price bump to $5,000.
It would actually happen before, because we are only at 40% Segwit adoption and Segwit adoption is currently declining again, no?
Can someone explain to me what happens when transactions increase by 50% again, isn’t this already more than the Bitcoin transaction limit? Will the network be full and fees will become very high again at this point?
This also already includes the Lightning Network, which is up and running already.
submitted by galan77 to Bitcoin [link] [comments]

Bitcoin Unlimited Is Increasing the Limit on Chained Mempool Transactions to 500

submitted by MemoryDealers to btc [link] [comments]

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations.

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations. submitted by Crypthomie to CryptoCurrency [link] [comments]

Bitcoin Cash Developers Public Meeting #12 | Topics include the $BCH upgrade feature freeze date, what needs to happen to remove the 25 chained transaction limit, and more...

Bitcoin Cash Developers Public Meeting #12 | Topics include the $BCH upgrade feature freeze date, what needs to happen to remove the 25 chained transaction limit, and more... submitted by money78 to btc [link] [comments]

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations.

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations. submitted by jeffyal to CryptoMarkets [link] [comments]

PayFast Ending support for BTC: "there are a number of limitations and design flaws unique to Bitcoin [BTC] that make it an impractical substitute for cash, including high transaction fees and long confirmation times for buyers"

PayFast Ending support for BTC: submitted by unstoppable-cash to btc [link] [comments]

versionbits + segwit script extension = pace of innovation

versionbits is in 0.12.1 activating now https://bitcoinmagazine.com/articles/bitcoin-core-released-major-step-forward-for-scalability-1460762378 and segwit is released for review & testing in 0.12.2 http://bravenewcoin.com/news/segregated-witness-has-been-released-tackling-bitcoins-transaction-limit/ bonus of versionbits & segwit is we can have new features in parallel and faster. what features can we see once 0.12.2 is deployed? it gives everything needed for lighning to supercharge bitcoin over the next 6months. we've heard about schnorr from greg maxwell to scale from 1/2 size transactions and from pieter about mast to compress advanced smart contracts. how about op_moxie to kill ethereum marketing machine jeff garzik was proposing. greg has been working on better block compression https://www.reddit.com/Bitcoin/comments/4fgs5t/irc_meeting_summary_for_20160414/d298jlk and iblt & weak blocks to fix orphans. but while we're on positive things how about some steps on hardfork so its ready for later as it takes a long time to activate.
ps none of innovations involve gavin and would have been done faster without attacks from him. can someone send gavin the memo that no one cares about his opinion & he is not in charge of bitcoin.
submitted by vampireban to Bitcoin [link] [comments]

"To those arguing that Bitcoin Core fees are no longer "through the roof". It only reached this point because you destroyed your user base with an artificial 1MB block size limit. The data speaks for itself - transactions/block down to 2 year lows with dominance at all time lows."

submitted by MemoryDealers to btc [link] [comments]

Bitcoin.com, ViaBTC join ‘Miner’s Choice’ initiative for Bitcoin Cash miners. ...a move that will eliminate the current dust limit and begin processing a number of zero-free transactions in every Bitcoin BCH block.

Bitcoin.com, ViaBTC join ‘Miner’s Choice’ initiative for Bitcoin Cash miners. ...a move that will eliminate the current dust limit and begin processing a number of zero-free transactions in every Bitcoin BCH block. submitted by unstoppable-cash to btc [link] [comments]

Binance DEX (decentralized exchange) could kill the dominance of Bitcoin BTC, since all transactions are done on-chain. This will expose the flaw in BTC's small block size limit, and cause BTC transaction fees to skyrocket.

Demo for Binance DEX (decentralized exchange):
Currently, everyone holds Bitcoin BTC as their reserve trading currency.
That's because:
  1. BTC has legacy status as the default trading pair.
  2. Trading costs at traditional crypto exchanges are the same, regardless of cryptocurrency. Ex: Binance trading fee is 0.1%, regardless of coin. That's because transactions are done off-chain.
But we've all known the flaw in traditional crypto exchanges: if the exchange collapses or disappears, you lose all your coins, since you don't have any seed words or private keys.
With a DEX, you hold your seed words & private keys. If the exchange collapses or disappears, you should still be able to access your coins on the respective blockchains.
If DEX exchanges take off, that could be a fatal blow to Bitcoin BTC's legacy status as a reserve trading currency.
That's because:
  1. Bitcoin BTC's on-chain transaction costs are 20-200 times more expensive than for other cryptocurrencies (like BCH, LTC, DASH).
  2. Bitcoin BTC has a small block size limit, and can't scale on-chain, so as DEX trading volume increases, Bitcoin BTC's mempool & transaction costs will skyrocket, making it unusable.
RESULT: If decentralized exchanges - like Binance DEX - become popular, Bitcoin BTC on-chain transaction fees will become ridiculously expensive, and people will start looking for a new default cryptocurrency to hold / trade / spend. It will be the end of Bitcoin BTC dominance.
submitted by normal_rc to CryptoCurrency [link] [comments]

Question about Bitcoin protocol (Proof of Work, Block Reward & Transaction Limit).

I have just watched 3Blue1Brown's video on Cryptocurrency - He is very good at making complex ideas simple, btw!
I was wondering though. In the video, Grant said that the 'Zero's' on the Proof of work changes periodically, as the currency is decentralized, who decides when and how that changes?
Grant also mentioned that there is a transaction limit of 2400 transactions. Who set this limit, can it be changed (if so, who by?)
On the same note - the reward reduces every 210,000 blocks -- who make the reduction, or is it automatic?
Thanks a lot
submitted by TheAlmightyDada to CryptoCurrency [link] [comments]

Bitcoin Core's limited transaction throughput has an adoption cost. Here's an email I sent to my contractors just now. I hope "One Meg Greg" has enough "champaign."

Bitcoin Core's limited transaction throughput has an adoption cost. Here's an email I sent to my contractors just now. I hope submitted by ugtarmas to btc [link] [comments]

Mathematician assesses Bitcoins true limits of adoption: Bitcoin cannot achieve its full potential until flowthrough transaction capacity limits are solved and vastly improved.

Mathematician assesses Bitcoins true limits of adoption: Bitcoin cannot achieve its full potential until flowthrough transaction capacity limits are solved and vastly improved. submitted by brownestrabbit to Bitcoin [link] [comments]

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The Bitcoin block size limit is a parameter in the Bitcoin protocol that limits the size of Bitcoin blocks, and, therefore, the number of transactions that can be confirmed on the network approximately every 10 minutes. Although Bitcoin launched without this parameter, Satoshi Nakamoto added a 1 megabyte block size limit back when he was still the lead developer of the project. This translated ... Transaction fees are voluntary on the part of the person making the bitcoin transaction, as the person attempting to make a transaction can include any fee or none at all in the transaction. On the other hand, nobody mining new bitcoins necessarily needs to accept the transactions and include them in the new block being created. The transaction fee is therefore an incentive on the part of the ... Another reason for long confirmation times is that blocks are limited to 1MB by the current Bitcoin protocol. This arbitrary limit can be increased but for the present it limits the amount of transactions that may enter a block which effectively slows down confirmation times and by extension, the entire Bitcoin network. More about bitcoin transaction inputs and outputs. Although it would be ... Bitcoin developers have been working to reduce transaction malleability among standard transaction types, one outcome of those efforts is BIP 141: Segregated Witness, which is supported by Bitcoin Core and was activated in August 2017. When SegWit is not being used, new transactions should not depend on previous transactions which have not been added to the block chain yet, especially if large ... This ‘6 confirmation’ limit is even advised by Satoshi Nakamoto- the creator of Bitcoin because after six confirmations the receiver can be sure that the bitcoins he/she has received aren’t double-spent. But as we know that a Bitcoin confirmation will minimum take 10 minutes and hence for six confirmations one needs to wait atleast 60 minutes (provided the transaction is included in the ...

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How to increase buying limit on Coinbase - YouTube

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