Bitcoin Project For Faster Bitcoin Transfers

LoyceMobile

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LoyceV on the road. Or couch.

Quote from: RYX573 on June 25, 2022, 12:48:40 PM

Very simple - please do not make Bitcoin transfers. Bitcoins transfers will be faster, if users will not use Bitcoins. Network lags in this way will be resolved. Please use Bitcoin only in very rare cases - may be once a year.

You can solve traffic in a similar manner: please drive only once a year. Lol.
There's no point in being faster if that means you can't use it.

NotATether

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bitcoincleanup.com / bitmixlist.org

Quote from: RYX573 on June 25, 2022, 12:48:40 PM

Very simple - please do not make Bitcoin transfers. Bitcoins transfers will be faster, if users will not use Bitcoins. Network lags in this way will be resolved. Please use Bitcoin only in very rare cases - may be once a year.

Well you have to be honest, we are heading in that direction in due time. If only the LN channels and small proportions of internal services (perhaps exchanges and anything else which needs to move around funds) are the main transaction-broadcasters on the network, the mempool congestion problems would be largely solved.

The thing is, this outcome is not expected to be reached for at least another decade.

Bttzed03

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https://bitcoincleanup.com/

I don't think that's going to work. It's not just about the frequency of transaction. You have to understand about the average block confirmation time of 10 minutes (it could be faster or slower than that at times) and the mining difficulty adjustment which happens every 2016 blocks.

If you happen to experience a fast confirmation time (under 10 minutes), you can expect that the mining difficulty will be increased in the next blocks. That means longer confirmation time.

PawGo

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Quote from: RYX573 on June 25, 2022, 12:48:40 PM

Very simple - please do not make Bitcoin transfers. Bitcoins transfers will be faster, if users will not use Bitcoins. Network lags in this way will be resolved. Please use Bitcoin only in very rare cases - may be once a year.

That's how Lightning Network works, no? (to some extend) You do not do the "real" transfer but you exchange the invoice which is "paid" one day, when the channel is closed.
Like people in bar order drinks, bartender makes the list and at the end of party each one pays his part.

RYX573

newbie

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Very simple - please do not make Bitcoin transfers. Bitcoins transfers will be faster, if users will not use Bitcoins. Network lags in this way will be resolved. Please use Bitcoin only in very rare cases - may be once a year.

Topic: Bitcoin Project For Faster Bitcoin Transfers (Read 206 times)