This has been said several hundred times: Nodes set their own block size limit depends on their preference, and so far they never set a limit higher than they consider safe
Rational =/= safe. Businesses act rationally; they go bankrupt all the time. And that's giving some leeway as to what constitutes "rational."
There is no safe call when you are trying to predict future, especially when your only tool is science. Remember LTCM? A group of Nobel price winner scientists trying to make a hit in financial world and their mathematical model totally collapsed and they even need FED to rescue
Progammers should learn risk management and gaming theory before they even start to make arbitrary decisions to predict economy events
A good example is the fee market prediction: Devs predict that when blocks are full, people will raise the fee, but the reality is, when blocks become full, people go to other cryptocurrencies, from gaming theory point of view, users are not stupid to be manipulated by devs' price control
Game theory is exactly the issue--and you have failed to present any argument that remotely proves your argument from game theory perspective. What possible evidence do you have that full blocks
cause people go to other cryptocurrencies? What possible
causal evidence could you provide for
human motives in that case?
Nothing because you apparently don't know fucking shit about how logic and scientific evidence work.What evidence do we have that when blocks are full, people raise the fee? Because....
that's what happens. Recall any dust spam attack or "stress test", or any time when there is a long delay between blocks (1+ hour), and see that the optimal fee to get confirmed goes up.
If you are suggesting that alts like ETH are taking over the market cap? Well, all of their volume is traded in BTC at Poloniex. LOL. You think that is "new money" that is "not from bitcoiners" and that "this money won't ever flow back into bitcoin?".... If so then I'm afraid you weren't paying attention to the altcoin craze in 2014, while bitcoin drifted into a miserable longterm downtrend.
Your whole argument is BS. Trying to compare bitcoin to a failed mathematical model based on zero evidence? Great. I know people like you (and Gavin) are happy to break the system in any way because "it's an experiment" but don't be surprised that investors may disagree.
it just a political tool for Blockstream devs to push their business solution which are pegged alt-coin and pre-paid card model which have been abandoned by industry years ago
Please go ahead and describe exactly how this model works. Since it sounds so absurd, the burden is on you to explain it.
Why is it absurd? They are facts. If you don't understand, then you better don't use bitcoin, you will lose money if you are gambling on some concept that you don't understand
Facts? They sound like meaningless opinions. Point to the sources and explain exactly what "Blockstream's business solution" is. If you're referring to LN (which Blockstream has no ownership of)...explain how LN = "pegged alt-coin and pre-paid card model" when its premise is bitcoin payment channels that are enforceable with smart contracts, where the state of any payment channel can be committed to the blockchain at any time when a participant seeks to close it, contract timelock, etc.
You're whole "I'm too fucking stupid to understand bitcoin and I refuse to explain myself" approach is pathetic, I'm sorry to say it.