SHORT SUMMARY submitted by
My ideas for constructive measures to make bitcoin thrive without wasting your energy. First, stay calm
Second, use your power as a consumer
- If BIP109 does not succed, there will be more chances. Maybe as a sidechain thats after a while can cut the ties with the original blockchain, or as a different cryptocoin.
- Bitcoin is money, money makes people do strange and bad things. Stay calm and realise that there are a lot of things that are much more important in life.
Third, show your opinion
- Contact an exchange (preferably a BIP109 (Classic/XT) supporting one) and tell them that you are willing to pay a small premium (e. g. 5%) for freshly minted coins from BIP109-voting blocks.
- The exchange buys coins from a miner or pool that support BIP 109 and pays the same small premium to the mining operator or pool.
- Mining operators mining BIP 109 get more profitable, can buy more mining hardware and produce more BIP 109 blocks.
- Pool operators can pay their miners more money and by that gather more hashpower and produce more blocks.
- Exchanges, mining operators and pools that earlier on did not support BIP109 now has to follow the money.
- In the same way, we could ask for blocks produced using renewable resources.
LONG READ First, stay calm I think Gavin Andresen have a very sound view of all things in this block size mess
- Run a node supporting BIP109, it's the blockchain version of putting stickers around town during a general election with your prefered party logo. You show that you support a blocchain increase, and maybe more important, a situation with multiple implementations and the choice that brings. It's also important to have a lot of BIP109-supporting nodes if and when the hard fork happens.
- If you cant aford or don't have the skills running a node, get together with some other people and run one in the cloud, in a datacenter, or pay somebody else to do it in their home.
- Donate bitcoins to the nodecounter.com rented hashing.
I’m still worried about reliability of the network in the short term, which is why I’ve been so vocal on the block size limit issue, and which is part of the reason I’m supporting alternatives to Bitcoin Core. In the long run I think everything will work out fine, no matter what happens with the block limit.
Clever engineers will find ways to work around around the limit, whether that is ‘extension blocks’ or the lightning network or a sidechain that everybody moves their coins to doesn’t really matter. I’d prefer a nice, simple, clean solution, but I’m old enough to know that most of the world’s great technologies are built on top of horrifying piles of legacy cruft, and they work just fine pretty much all of the time.
And Bitcoin will survive without a short-term solution, but adoption and growth might be set back a year or two.
With that said, getting angry and upset will just drain your energy and makes it hard to do constructive things. You have to also realise that BIP109 failing is nowhere near the end of the world. I hope that one day a system that at least takes ideas from todays Bitcoin blockchain will be the monetary norm (because I do not trust todays banks and financial system). But that will take years and years to come, and we will have several setbacks along the road. I think the best way to make Bitcoin succed is to not take it to seriously or personal. Make it fun, make it a sport to find ways to circumvent the obstacles that is in front of you. Don't focus on the obstacles. Second, use your power as a consumer
It is often said that the miners have power to decide if there will be a hard fork or not. Thats right, in a way. But the miners need us to buy their newly minted coins, and if we don't they have just wasted a lot of electricity and produced CO2-emissions for nothing.
When I buy bananas, I usually choose the ones produced organically (so the workers don't die because of pesticides) and fair trade certified (so the workers don't just avoid getting poisoned, but also get paid). I pay a premium for that, because I think the world gets better if I do, and I am a part of the world.
So lets buy the world changing organically grown fair trade equivalent of bitcoins. If an exchange, e. g. Coinbase offered BIP109-produced freshly minted coins, I would pay a premium for that. The good thing with bitcoin is that you quite easilly can trace your coins back to the block producing it, so noone can fool you. If I pay the exchange a premium, they pay the pool operator or mining operator a premium. The pool operator can pay more to their miners and the mining operator can by more equipment. The result is more profitabillity and more hashpower behind BIP 109. Other exchanges, miners and pools, will have to follow the money and start producing BIP109-blocks to remain competitive.
In the same way I personally would pay a premium to buy coins that I know are produced using renewable energy sources, and where workers producing the mining hardware from the rare earth mineral mines to the assembling lines get paid and decent working conditions. Third, show your opinion
Businesses are not insensitive to opinion. If there are a lot of people running nodes supporting a diverse field of different implementations and implementations that support a certain feature, e. g. bigger blocks, they has to notice. And businesses usually want to keep their customers, otherwise, someone else will get them.
It is also a plus to have a lot of large block relaying nodes on the network if and when the hard fork occurs.
And if you haven't got the skill, the bandwith, or the money to run a node, do it together with somebody else. You could run a node in the cloud with a couple of other people, or by your self. Or, if there is somebody that has the posibility to run a node at home, but don't want to pay for the bandwidth by themselves, you could help them.
There are also the nodecounter.com rented hashing power thing that you could send some mBTC. Conclusion
Don't wait for the big guys to decide for you. It is the same in the Bitcoin world as it is in your every day life. Use your power as a consumer. Personally I will later today send a mail to the exchange I mostly use (btcx.se) and se if the are willing to provide me with bitcoins thats produced from environment-, worker-, and BIP109-friendly sources. Edit: trying to learn the fomatting
*Based on current mining difficulty and Bitcoin price. View historical difficulty for BCH and BTC ** Daily fee covers electricity and maintenance costs.The contract will end if the total revenue from the past 30 days is less than the total daily fee for the same period. Bitcoin mining is done by private computers. The role of miners is to secure the network and process each Bitcoin . Miners do this by solving a calculation problem that allows them to assemble the transaction blocks (hence bitcoin's famous blockchain). Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Buy bitcoin with Swish. With us you can trade, buy and sell bitcoin fast, safe and easy. Start trading bitcoin today with BTCX! Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH.
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