The Segregated Witness Proposal- BTC Soft Fork or Hard Fork
One discrepancy that’s been troubling the Bitcoin world for some time now, is the issue of scalability.
The man himself- Roger Ver expressed his own concerns regarding Bitcoin’s lacking of scalability back in August 2016 when he gave an interview to Wade Paterson on our very own Steemit.com (Great job @wadepaterson!)
Segregated witness, or segwit, as you may have noticed is a bit of a buzz word in the Bitcoin community lately.
Essentially, it’s a possible solution that would allow for faster transactions on the Bitcoin blockchain without requiring Bitcoin to undergo a hard fork.
Do you agree that BTC is due for a hard fork in the future?
Supplemental Videos:
Segregated Witness Analogy:
Andreas Antonopoulos Explains Segwit:
I give SegWit a slim chance of ever activating. Bitcoin as a store of value in its on way but I don't see Bitcoin scaling. It's OK Ether will gladly do it. Best thing BTC should do is Cont. HF and at some point consensus probably will.
Ethereum has the same governance problem that bitcoin has: Unless the miners agree, no hardfork will happen... or worse, you split the network into two.
ETC is seen by a positive to get rid of Bitcoin Max mentality people like Barry Silbert and Communist Chinese. That current mentality is blocking BTC growth. ETH has no governance problem like BTC current has. When POS is launched stake holders will be able to vote like in Dash.
I agree. I think that there is room for a digital currency that does not do everything but is simple and reliable and stable. I thought we were getting to Stable but recent events are a reminder how volatile bitcoin can be. I think scaling will be left to other coins who will have their niche. Not only Ether but possibly Dash or Monero for payments, Steem for Digital Media etc.
Obama says if I like my Bitcoin I can keep my bitcoin?
I also warned everyone not to buy that Chinese pump and dump in BTC. Bitcoin is over-rated in my opinion. Too much Chinese hoopla! The scaling issue is a huge red flag for Bitcoin's future. Although the price can still move much higher be warned that if BTC scaling issue is not resolved this could lead to limited BTC price growth. I think the price would already be past $10k if Bitcoin would have scaled in 2015. That's just my opinion from the way I see it. A lot money is already flowing into Alt Coins.
Transaction times are a problem!
@kus-knee (The Old Dog)
A hardfork would be very messy.
I'm very keen on SegWit adoption. I don't get Roger's take on it. I've listened and he is not making sense. That suggests to me that something is up--he may be compromised. I'm happy that Charlie Lee is going to run SegWit (and I think Lightning Network) on Litecoin as a test bed for this tech. That is a awesome route forward. Lowers risk for BTC and adds real value to LTC.
Interesting I will look at teh videos I'm so out of the whole cryptocurrency deal I have no idea what forks even are :D
Definitely check out the first of the supplemental videos here, and also take a peek at my other blog posts here, I've got a couple that explain hard forks and the blockchain :)
go heidi!
Just hard fork it already...
Btc is such outdated tech, time to ubergrade this time machine into the future.
Bitcoin definitely needs to get updated.