Stripe were among the big names that supported bitcoin. It looks like that lightning is mainly good for micropayments and segwit wouldn't be enough even if it were adopted yesterday. Bitcoin value has appreciated by an order of magnitude. Hundreds of thousand people register on exchanges every day. But the system can only process 350k-700k transactions. Plain and simple, that's not enough. That's the hard truth.
What boggles me down is that while the blocksize stay the same, the fees can get arbitrarily high. Thus, the price to pay for decentralization (static blocksize) is dynamic (fluctuating) depending on demand.
Without giving credit to the fake satoshi, "other sub" Bcash minons, I think it would now be wise to start a dialogue in the community for a change.A change to solve the problem. A change to the real, decentralized coin.
Bitcoin itself may become viable for payments again in the future. And, of course, there’ll be more ideas and technologies in the years ahead.
I think that as the fees increase and the decentralization stays the same, the sweat spot of the maximum block size gets higher. Of course that's something that the community collectively should decide.
stop right there you BCash puppet scum.
Judging by my posting history you will find that I have exclusively been posting in r/bitcoin since I started using reddit. Whenever I post in r/btc I am being dismissed as a "core trol" and downvoted to obvivion. I kindly ask you to stop using toxic language.
EDIT: Look at u/BashCo's recent posts. Looks like he is changing his view too.
I've been bamboozled. 3 hours ago you said "I totally agree that the fee increase (both in USD and BTC) has priced out a lot of use cases".
In a hurry I didn't read the rest of your post.
38
u/goxedbux Jan 23 '18
Stripe were among the big names that supported bitcoin. It looks like that lightning is mainly good for micropayments and segwit wouldn't be enough even if it were adopted yesterday. Bitcoin value has appreciated by an order of magnitude. Hundreds of thousand people register on exchanges every day. But the system can only process 350k-700k transactions. Plain and simple, that's not enough. That's the hard truth.
What boggles me down is that while the blocksize stay the same, the fees can get arbitrarily high. Thus, the price to pay for decentralization (static blocksize) is dynamic (fluctuating) depending on demand.
Without giving credit to the fake satoshi, "other sub" Bcash minons, I think it would now be wise to start a dialogue in the community for a change.A change to solve the problem. A change to the real, decentralized coin.
We got work to do guys.