Scaling Debate – Is the difficulty to make procotol changes a bug or a feature?

Ticker

1 BTC = $39579.09 USD  (via Coinbase)
1 ETH = $2690.23 USD  (via Coinbase)
1 LTC = $143.47 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Many times I've seen people claiming that the difficulty to deploy changes to the Bitcoin protocol is a feature.

I can see that it is an important security measure in order to be resistant against attacks from malicious individuals or parties and even just a protection against bad and hasty decisions.

It seems very important to require consensus in order to make protocol changes but at the same time I feel that the current situation can not be considered a feature in any way.

We have technical solutions, they already exist but yet we are not able to move forward. It's been a stagnation for more than a year now. This is not about the scaling debate itself, nor about screaming "UASF now!!1111!". "Mimimi, evil big blockers" and "hurrdurr, blind core supporters" doesn't count here.

It's about how to be able to evolve in general. It's about finding a way to develope solutions to overcome this human problem, to make decisions more efficient. It's about the difficulty to find consensus in general.

From a philosophical viewpoint, finding consensus with endless discussions within the community is not a bad thing to us humans. It's a good way to allow everyone to participate, develope different solutions, exchange ideas and there is no problem that it takes so long.

There are some problems though. It is in our nature to compete for our own benefit, there will always be people who have different opinions because they have different motives, there will always be manipulation, lying and people trying to convince others of something. Doesn't automatically mean they are right or wrong, just means they are human.

And then there is our economy. From an economical perspective, how can anyone claim that this is a feature? Any company that is unable to move forward will die eventually, without exceptions. Humanity has reached a point where we move incredibly fast and technology either evolves or gets replaced. How long would Amazon or Google continue to be market leaders if they stopped to make improvements now? It's simply impossible to maintain a market position without evolving alongside everyone else.

Bitcoin and blockchain technologies are no exception just because they are decentralized and there is no authority. Bitcoin is a network primarily used as a currency, used to make payments and as a store of value. Users will want a cheap, fast and easy to use system for that purpose. The real average user doesn't care about some people saying "b-b-but it's a feature that we need several years to find consensus to enable fast and cheap payments for you". We are the minority here, average users don't go anywhere to discuss the technology behind the products they are using.

Bitcoin might be the leader, it has the network effect and the first mover advantage. But it can't compete with others anymore without the ability to evolve. That is simply not possible, every similar project with the ability to evolve faster must overtake at some point, it is only a matter of time.

I don't think that this problem should be underestimated and Bitcoin maximalists might really think about it, try to be objective and think from an economical perspective.

I'm not spreading FUD, I'm not saying Bitcoin will be dead tomorrow. I think the price will continue to rise because we have some ongoing adoption out there, no doubt. More users, more money, more usage. I am holding my bag aswell, I won't sell in the near future. But I already diversified because I don't think this will go on forever, the things will change if Bitcoin stays like it is now.

Do not fool yourself. Consensus is important but there must be ways to reach it much more efficiently. Any project that can evolve better will replace old technology at some point. No matter your emotions or your political, social or ethical beliefs.

Stay awake folks.

submitted by /u/chescos
[link] [comments]

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $39579.09 USD  (via Coinbase)
1 ETH = $2690.23 USD  (via Coinbase)
1 LTC = $143.47 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Leave a Reply