Author: jl2012 2015-12-16 18:36:00
Published on: 2015-12-16T18:36:00+00:00
The author shares their observations and thoughts after attending the Hong Kong workshop for Bitcoin developers. They express gratitude for the opportunity to meet dedicated developers and see the importance of regular conferences for a young project like Bitcoin. The author suggests that a conference like this should be conducted at least once every two years in visa-friendly locations.They also mention the consensus that emerged at the conference, such as the implementation of segregated witness and the acceptance of a 2MB block size by a super majority of miners. Chinese miners are requesting consensus among developers nicely and believe that 2MB is what they really want. The author sees no contradiction between developers not wanting to be seen as decision-makers and Chinese miners wanting several concrete proposals from them.The author shares their personal views on the potential for a "Fee Event" or "Economic Change Event" in the next 2-6 months due to increasing fees and halving in July. They suggest avoiding a radical economic change event during the next halving cycle and support an early and conservative increase, such as BIP102 or 2-4-8.The author believes that segregated witness must be done but cannot replace a short-term block size hard fork. They suggest duplex payment channels/Lightning Network may be viable solutions, but irrelevant until segregated witness is done. Finally, they suggest having a clear roadmap and schedule for the community to prepare for potential changes and hope discussions remain educated and evidence-based without circling.
Updated on: 2023-06-11T02:09:41.914748+00:00