And please don't say off chain transactions cause that's just not gonna fly. I'm actually shocked that experts like Eroc Voorhees think off chain transactions will actually work given that would be essentially bypassing Athe BlockChain which is the heart of Bitcoin.
So tell me what you think Bitcoin is gonna do in the next 6-12 months as transactions per second blow up.
No idea. I hope they either lift the limit entirely, or make it float so that max block size for a given period is e.g. max( 1MB, 4 * median block size of prior period ), resetting on e.g. the same 2016-block cycle as difficulty. I suspect lifting the limit entirely would be too controversial so something floating will be decided on.
Lifting the limit would be trivial in and of itself; the problem is much bigger than that.
See,
"loaded" Bitcoin blocks don't propagate as well as
"empty" blocks which is why Bitcoin's transaction limit is at around 7 per second. They're gonna need much more than that very soon.
If only Bitcoin was fully mature [or another coin just like it].
Guess what: iXcoin is going to have empty blocks in a few months so it will then be able to literally handle many more transactions per second than Bitcoin [while being merge mined with Bitcoin
("magic numbers")] time tested and very widely distributed.
You understand programming much better than me so I'm sure you can figure out what could happen next to solve Bitcoin's transaction limit problem.
There must be a good reason the likes of CEX.io has such an interest in iXcoin.
This is the sort of thing about iXcoin that interests me. iXcoin will soon be Bitcoin's future self, here today.
I would not be surprised if mature and immature versions of a coin running alongside each other could be used to produce some interesting synergies.
Yes, synergies are coming. Rather than off chain transactions, it makes more sense to use cryptos merge mined with Bitcoin to increase transaction volume. You get almost the same security for just a negligible extra energy invested. iXcoin is a perfect fit for this.
I bet the reason CEX.io has jumped on iXcoin has a lot to do with it being merge mined with Bitcoin. They don't need to add any mining equipment to support iXcoin, and they probably realize any Bitcoin business can use iXcoin for overflow transactions, as well as completely separate businesses.
If CEX.io ever plans to expand from just being an exchange into payment processing or a mega crypto store like Amazon, then they will need the extra transaction throughput. That's only speculation, but the way they're going I think they have some big plans for the future.