Sunday, March 28, 2021

First Bitcoin Fork - The Battle For Blocksize - SOG BLOCKSIZECD

 Battle For Blocksize



BLOCKSIZECD - The Battle For Blocksize

Issued : Thursday August 26 2015 , Legendary card

In Circulation :  300  ( Click to see distribution of card holders )

Card Description Politics in Askian are complex, decisions require consensus. The stakes for mountain miners and residents are high, thus creating friction within the community.

Artist Impression : Spells Of Genesis artist, painted an allegoric representation of the main characters around a table arguing over Big Blocks and Small Blocks. 

Being a legendary card, only 300 were created. This card is indivisible. Although 300 is the maximum number in existence. The true number will never be known as like Bitcoin owners may have lost passwords or keys. Even Shaban the founder of Everdream Soft and Spells of Genesis personally only holds 2 copies 1 of which he is putting up for auction.

Legally Everdream Soft owns the copyright to the image, even though others may own copies of the card. The situation is similar to owning a limited edition copy of a book.

Blocksizecd is a very rare card. A true collectors item. Like a limited edition copy of the "Mona Lisa" this NFT was issued by Everdream Soft on Thursday August 26 2015 to chronicle the bitter dispute over many years until it resulted in the split into BTC and Bitcoin Cash. 

The price of these sought after NFTs are basically decoupled from the price of Bitcoin. Serious crypto holders should hold some as hedge against their crypto holdings.

Shaban : This card has a special meaning for me. It represents the battle for bitcoin blocksize that eventually led to the chain split between bitcoin and bitcoin cash. The picture depict allegorically some of the famous people of the bitcoin scene at that time.

When I posted this card on reddit I got shadow banned from r/bitcoin reddit where the policy was to ban any post mentioning blocksize. This card is a witness of that incredible time and is loaded with memories.

The allegoric characters are

Big Blocks

Jesus like Figure standing up - Roger Ver

Orange Cloak  - Eric Voorhees

Back towards us - Gavin Andresen 

Small Blocks

Standing Up  - Gregory Maxwell

Hands Folded in blue - Adam Beck 

Lady in blue - Perianne Boring 

__________________________________________________________

The Marketplace  How Much Is An NFT Worth ? Short article   HERE

Blocksizecd price on the Dex : Counterparty Dex 

Open Sea :  Opensea  

Opensea is the largest peer to peer marketplace for trading digital assets.

Auction : @nftauctions

An auction house is the best place for price discovery. Theo Goodman started his telegram site @nftauctions to do this. Sellers send their items to him on escrow and buyers register to bid. This is a trust based system.

                        __________________________________________________________

Blockchain History

When Bitcoin was created the blocksize was unlimited. In order to protect against denial of service attack, Hal Finney in late 2009, with the reluctant consent of Satoshi and Mike Hearn set a block limit of 1MB. This was done on the understanding that it was temporary and would be removed later to allow Bitcoin to scale. A fact that was confirmed by Mike Hearn. 

Around 2012, as Bitcoin adoption grew, talk started surfacing on increasing the blocksize. This soon led to full blown flame wars between the Big and Small blockers. Roger Ver led the big block campaign and was the target of much hate from the small block community. The small block supporters had the advantage because they gain control of Bitcoin source code.

The argument against was that big blocks could not propagate across all nodes fast enough for decentralisation. Luke Jr even proposed decreasing it to 400 bytes. Gregory Maxwell wanted it to run on his raspberry PI. 

To get a feel of what it was like have a look at this video although Roger Ver was the only person supporting big blocks here


BTC developers proposed Segwit as a conciliatory means to increase the blocksize and solve Bitcoin's malleability problem at the same time. This was a step too far for the big blockers as according to them, it destroys the fundamental property that Bitcoin is an unbroken chain of signatures.

To avoid Segwit On 01 August at block 478559 Bitcoin split into BTC ( Bitcoin)  with 1MB transaction blocks and BCH ( Bitcoin Cash ) with 8MB transaction blocks. 

Even after that the attacks continued. It was a very divisive time fought on all media and scars remain to this day.

Bitcoincd card above referred to this first Bitcoin split into BTC and BCH. BCH would later again split into BCH and BSV.

These articles chronicle much of what happened in the early days of Bitcoin.

Resolution of big block experiment Lucas Nuzzi

Coingeek Article - Bitcoin History Part 1

Coingeek Article - Bitcoin History Part 2


Related Articles

Non Fungible Tokens. NFTs. The Ultimate Store Of Value

How much is an NFT worth analysis of 3/20/2021 @nftauctions? HERE


Other Cards

Bitcoin Origins - Genesis Card

The Stealing Of Mt Gox - GOXCARD

The Immitator  Satoshilite


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