28 Comments on Bitcoin Scaling Explained: Big Blocks vs. SegWit

  1. Thank you Jimmy, great content. Maybe it’s time for a better microphone? I’m sure WCN has enough donations to get better microphones for you and the other regular guests.

  2. Hey Jimmy, This is a great explainer, probably just at the right level for normal people.
    One issue – I get that you’re trying to stay “politically” neutral, but a pitch at this level really needs to be careful even using the term “Bitcoin cash” without explaining how it’s now a completely different cryptocurrency than “Bitcoin” (e.g. at 2:50). Normies still get them mixed up, and I can understand why. There have been many anecdotal reports of people buying BCH instead of BTC by accident because “I wanted to buy a whole one”, and/or mixing up BTC/BCH deposits/withdrawals.
    But other than that, loved the video, keep them coming!

  3. Thanks Jimmy. Even your kids can understand this one. Did you ask them for technical advice? Just be careful of color association. Seg-wit block would be better in blue. Otherwise, I would like to see one on mining and hardwallets. And above all, I appreciate your level headed insight to all the forking debate going on. Keep it up. =J

    • and in this type on context – use higher gain and speak closer to the mic
      this need much more of a voice over quality

  4. Where would the signatures go? Wouldn’t the signatures still need to be verified at some future point?

  5. Very nice…

    Do a video pushing the idea that Bitcoin can be bought in Fractions.

    A bitcoin price of $4,400.000 scares a lot of people away.

    Really need your thoughts on the second forking of bitcoin.

  6. I fail to understand where in the world in what situation 1mb is too much data for a transfer time of 10min…

  7. the audio is really really bad tho…. Jimmy needs a better not reverbating mik/recording area, and the audio settings in final cut pro are meant to be used ;))
    If you need help (@Mad BTC) let me know here in comments and I’ll contact you… cheers and keep it up! 10+

    • i noticed this too. Its sounded to me like he’s using the exact same setup as on the show, in the exact same space. someone shove the man in the closet (full of clothing) and toss in a blue snowball mic 😀

  8. Isn’t it important to mention Segwits compatibility with sidechains? Segwit true importance is the way it enables offchain transactions

    • Segwit does that by fixing an old standing bug that is not related to scaling, transaction malleability, which is necessary for (some) offchain transactions because without it fixed, if you agree with a counterparty on a transaction, you or they could transmit it to the blockchain with an arbitrary ID. This effectively prevents light clients from being able to transact off chain without a trusted third party to ensure that certain transactions haven’t been accepted into the chain, and this limitation is addressed by the malleability fix that is part of segwit.

      As far as I know for sidechains in general this is not really an issue, but segwit is also engineered to make the introduction of new opcodes easier (and see also bip 114, MAST), including that which is required for 2 way peg, so segwit activation should allow for that to happen as well, though not for reasons relating directly to the segregation of signature and transaction data.

  9. I have a habit of donating at the end of the year but this time I make an exception! Great video.

  10. I think what still needs to be discussed is whether any of the solutions is enough. How many transactions per second can these solutions handle? I hear that before the fork, bitcoin was able to confirm 7 transactions per second, which is clearly too little given that Visa for example deals with 2,000 per second and can go up to 10,000 transactions per second.

    1. How many transactions per second with SegWit?
    2. How many transactions per second with Big Blocks?
    3. Is it possible to decrease the 10min per block?
    Trying to buy a cup of coffee and waiting 10min before actually they can give you the coffe is a bit too much…

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