Mimblewimble is the name of a [whitepaper](https://download.wpsoftware.net/bitcoin/wizardry/mimblewimble.txt) published in 2016 by pseudonymous contributor. The paper proposes a radical restructuring of the Bitcoin protocol in order to massively improve privacy and scalability of the digital currency. It is named after the Tongue-Tying Curse in Harry Potter because it aims to prevent users from saying too much about their transactions.
Its nobody's fault that Satoshi released the v0.01 pre-Alpha version of *Globally Scalable* Bitcoin. For Bitcoin to reach global scales, it will fight and wrestle and try dozens of forms before settling on a viable one...
Bitcoin Cash is at 0.03% level of being usable on a global scale. It is no where near the finish line. There should be more forks not fewer. Each team needs to race to the finish line using their best ideas. I have no doubt the project that is first to being a globally scalable coin will draw in all the other users in a short period of time.
@WAK3UPAMERICA @rootvegetable3 @skupor No long-run upper bound on scalability. Bitcoin is governed by a p2p network… https://t.co/meMs2sUA4L - Crypto Insider Info - Whales's
Posted at: October 10, 2018 at 03:21AM By: @WAK3UPAMERICA @rootvegetable3 @skupor No long-run upper bound on scalability. Bitcoin is governed by a p2p network… https://t.co/meMs2sUA4L Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX Join Telegram Channel for FREE Crypto Bot: Crypto Signal
12-23 02:12 - 'Scalability: Bitcoin on the Lightning Network vs. Bitcoin Cash with an always increasing block size' (self.Bitcoin) by /u/jerryskids_ removed from /r/Bitcoin within 0-9min
''' What's your takes on this? Looking at the btc threads, inc. Roger Ver, and all of the BCH enthusiasts, they all think BCH will take over bitcoin in 2018, largely in part due to bitcoin's current scalability issues. I suppose in light of this idea, and typically in favour of any investment strategy, it's always good to diversify and thus include some BCH in the portfolio, but do you any of you think Lightning not being ready in time will lead to increasing skepticism about bitcoin's viability and thus lead to BCH gaining substantial market share in 2018? Roger Ver has now written numerous posts stating BCH will over take BTC.. I mean I know people look down upon him with disdain, but do any of you think twice in face of his statements? ''' Scalability: Bitcoin on the Lightning Network vs. Bitcoin Cash with an always increasing block size Go1dfish undelete link unreddit undelete link Author: jerryskids_
[uncensored-r/Bitcoin] Scalability: Bitcoin on the Lightning Network vs. Bitcoin Cash with an always increasing block size
The following post by jerryskids_ is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7lly44 The original post's content was as follows:
What's your takes on this? Looking at the btc threads, inc. Roger Ver, and all of the BCH enthusiasts, they all think BCH will take over bitcoin in 2018, largely in part due to bitcoin's current scalability issues. I suppose in light of this idea, and typically in favour of any investment strategy, it's always good to diversify and thus include some BCH in the portfolio, but do you any of you think Lightning not being ready in time will lead to increasing skepticism about bitcoin's viability and thus lead to BCH gaining substantial market share in 2018? Roger Ver has now written numerous posts stating BCH will over take BTC.. I mean I know people look down upon him with disdain, but do any of you think twice in face of his statements?
We are only one hard fork away from a completely sustainable and scalable Bitcoin.
It's crazy to think how close we are to potentially never having to modify the protocol by means of hard fork ever again, or at least not for many years, possibly decades. Satoshi blessed us with a near perfect system, of course there were some kinks to iron out in the beginning, and they were ironed out by the means of hard forks, the way that the ecosystem responds to a problem with its underlying protocol. We are now in a position where with just one fork, Bitcoin can be scaled on-chain as the cost of hardware and bandwidth naturally limits the capacity of the network. And even then, it is not likely adoption will outpace the available capacity as we have so much room before we ever have to start thinking about second layers to extend capacity beyond the means of current hardware and bandwidth limitations. Some might say Satoshi messed up by adding the 1MB limit, but it definitely was necessary at the time to prevent large block attacks. Now, however, it is no longer economically viable to do such attacks, we could completely remove the blocksize limit and the ecosystem would have infinite room to grow with little risk of attack. Remove the limit, let the miners decide what size blocks will be like originally intended, and nothing will stop Bitcoin from scaling for many years to come, until a point where adoption is so incredible that second layers become necessary. Once the limit is lifted, or is allowed to scale proportionally alongside technological advancement, all development efforts can then be put forth to make Bitcoin faster, un-malleable, and generally more user friendly and easier to use. At this point, another hardfork will likely NEVER be needed, at least not in our lifetimes. I have nothing against second layers as long as they don't change the incentives of the already near-perfect system that Bitcoin is. Once we finally fork away from the oppressive regime currently stifling Bitcoin's potential, there will be NOTHING anyone can do to stop Bitcoin from taking the world of finance by storm. With on-chain scaling restored, miners will have no incentive to be forced into "solutions" that benefit those who don't secure the network but not themselves, and the market WILL find the best solutions to the slight nuances that Bitcoin faces from that point forward.
06-02 13:22 - 'Guess how much it costs to send a million dollars of Iota? $0.0000000 Guess how many tps? 1000 It's Quantum resistant and scalable. Bitcoin can go fuk itself' by /u/Debtslave17 removed from /r/Bitcoin within 286-296min
Bitcoin scalability problem exists because of the limits of the maximum amount of transactions the bitcoin network can process. It is a consequence of the fact that blocks in the blockchain are limited to one megabyte in size. So, the current blockchain size is 1 MB, the blockchain scalability problem takes place to be. Existing blockchains like Bitcoin and Ethereum are only able to do about 7-10 transactions per second. This technological limitation has been called the blockchain scalability trilemma. If it is ... A Bitcoin full node could be modified to scale to much higher transaction rates than are seen today, ... Please note that this page exists to give calculations about the scalability of a Bitcoin full node and transactions on the block chain without regards to network security and decentralization. It is not intended to discuss the scalability of alternative protocols or try and summarise ... This guide takes a look at blockchain scalability, with a focal point of understanding its importance through highlighting Bitcoin scalability ptoblem and its effects.. Bitcoin is often seen as ‘too slow’ and ‘too expensive’. When the network is congested, a bitcoin transaction might need an average of more than one hour for it to be processed. The Bitcoin network can only process a certain number of transactions in a set time frame, such as per block; In its most basic definition, scalability is the capability of the network to handle a growing amount of transactions; In a more detailed context, scalability factors include throughput, transaction times, latency, and security
Exclusive interview with Blockstream CSO Samson Mow during the Capital discussing Bitcoin scalability, the state of lightning and liquid network. Exclusive Stories Blockstream Samson Mow on ... Bitcoin Scalability to Power Next Bull Run, Pantera's Krug Says - Duration: 4:14. Bloomberg Markets and Finance 11,904 views. 4:14. Language: English Location: United States ... Is Bitcoin mining actually scalable even though its profitable? How scalable is bitcoin mining and how far can you go building a Bitcoin mining farm with ASICs. Here are some of bitcoin miners ... English subtitles available. A special event designed to shed some light on Bitcoin's way forward with respect to scalability and governance, in light of the possible fork into larger blocks ... Bitcoin Scalability SOLVED - Bitcoin to become "streaming money" and radically transform commerce. - Billions of transactions per second - 0 fees - No Banks - Just Hodl The Bitcoin Lightning ...