satoshi's logic is not so logic - page 2.

samson

legendary

Activity: 2097

Merit: 1070

Quote from: ajareselde on October 17, 2015, 07:29:47 PM

2020 is still 5 years away.. If you look 5 years back, to 2010 and just a tiny amount of transactions and look at it now on avg of hundreds of thousands transactions per day..
I think Satoshi is proud of where we are right now. And expecting anything but the same fold in the next few years is an undevaluating bitcoin.

I was thinking something similar - there's already a large amount of transactions on the network compared to back then and it's still early days.

Amph

legendary

Activity: 3248

Merit: 1070

it was for 2030, not 2020, and anyway the original limit was 32, changed for ddos, but i'm sure he had a plan to change it later again, seeing how he know how much time would have require to reach mainstream

basically you can begin to worry about the limit after 2020

glub0x

legendary

Activity: 892

Merit: 1013

Quote from: toinew on October 17, 2015, 09:41:01 AM

Satoshi said, by 2020 bitcoin is eitheir mainstream either will disappear (quotation welcome, i didn't find it)
But how can it be mainstream with 7 transaction per second ? And if it's not mainstream, satoshi's logic woul tell us that bitcoin will disappear by 2020 Huh

He also never said 7TPS was forever on the contrary...

Kevin77

legendary

Activity: 1652

Merit: 1057

Only 7 transactions per second is not at all fixed and never lead to any difficulty to bitcoins fame. Because bitcoin is here for it's new innovative thinking and possible financial revolution. Per second transactions are easily modifiable if we need to. So, bitcoin will be here even for 2200 also...

Q7

sr. member

Activity: 448

Merit: 250

Quote from: toinew on October 17, 2015, 09:41:01 AM

Satoshi said, by 2020 bitcoin is eitheir mainstream either will disappear (quotation welcome, i didn't find it)
But how can it be mainstream with 7 transaction per second ? And if it's not mainstream, satoshi's logic woul tell us that bitcoin will disappear by 2020 Huh

In few more years who knows we might probably found a solution to solve the scalability issue and have the network being able to handle higher number of transactions than currently. Anyway, when he quoted saying that in 20 years there will either be very large (bitcoin) transaction volume or no volume, that was actually made in 2010, so theoretically, we have about another 15 more years before we get there.

PseudoCode

full member

Activity: 153

Merit: 100

Incorrect. Supposedly its peak is 56,000 per second.

https://en.bitcoin.it/wiki/Scalability
http://www.visa.com/blogarchives/us/2013/10/10/stress-test-prepares-visanet-for-the-most-wonderful-time-of-the-year/index.html

yolalanda

newbie

Activity: 56

Merit: 0

Quote from: PseudoCode on October 17, 2015, 09:13:44 PM

...
= 790,000 transactions per day
...

Fun fact: VISA network can handle that in just over a second

PseudoCode

full member

Activity: 153

Merit: 100

Quote from: kwukduck on October 17, 2015, 07:54:44 PM

Quote from: ajareselde on October 17, 2015, 07:29:47 PM

2020 is still 5 years away.. If you look 5 years back, to 2010 and just a tiny amount of transactions and look at it now on avg of hundreds of thousands transactions per day..

Please tell use more of your perma-bull lies.

https://blockchain.info/charts/n-transactions-total

Are you *still here brainfarting all over the place Kwacker ? Why do you bother ?
You might as well walk around wearing a red ball nose, propellor bowtie and a squirting flower, it wouldnt change your credibility one bit

Lets see, that chart you linked.

Oct 18. total transactions = 88,361,598
Oct 15. total transactions = 85,991,386
difference = 2,370,212 transactions divied by elapsed time of 3 days
= 790,000 transactions per day

Looks truthful to me.

Like I said, you dont read (or comprehend) stuff too good, do you boy ?

kwukduck

legendary

Activity: 1937

Merit: 1001

Quote from: ajareselde on October 17, 2015, 07:29:47 PM

2020 is still 5 years away.. If you look 5 years back, to 2010 and just a tiny amount of transactions and look at it now on avg of hundreds of thousands transactions per day..
I think Satoshi is proud of where we are right now. And expecting anything but the same fold in the next few years is an undevaluating bitcoin.

Please tell use more of your perma-bull lies.

https://blockchain.info/charts/n-transactions-total

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

2020 is still 5 years away.. If you look 5 years back, to 2010 and just a tiny amount of transactions and look at it now on avg of hundreds of thousands transactions per day..
I think Satoshi is proud of where we are right now. And expecting anything but the same fold in the next few years is an undevaluating bitcoin.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: maokoto on October 17, 2015, 03:20:11 PM

I somewhat agree, if by no volume it refers to very low volume. I think that bitcoin may well be turned into a kind of investment only some use.

I assume his sentiment was along the lines of it's either going to gain a major foothold around the world or die. The way the falling block reward is designed kind of necessitates that. I'm not so sure there's much of a middle ground.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: kwukduck on October 17, 2015, 02:15:37 PM

Quote from: Dilla on October 17, 2015, 09:49:12 AM

Scaling/increasing block size debates would solve this issue.

In case you missed it. This issue will not be solved any time soon. If ever...

Come on man, of course it will be solved. Why the heck are those people meeting again in Hong Kong in December if the debate will not be solved, let's show some optimism.

To the OP, yes scaling was planned by Satoshi as well. The current 1MB cap was introduced just as a temporary measure because of spamming.

maokoto

hero member

Activity: 770

Merit: 500

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Quote from: OmegaStarScream on October 17, 2015, 09:46:39 AM

He never said that as far as I know , but he said the following :

Feb. 14, 2010: "I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume." which means 2030 (if we start counting from the day he posted the quote on the forums ) and not 2020 .

Thanks for bringing the quote back.

I somewhat agree, if by no volume it refers to very low volume. I think that bitcoin may well be turned into a kind of investment only some use.

Dilla

hero member

Activity: 588

Merit: 500

Quote from: kwukduck on October 17, 2015, 02:15:37 PM

Quote from: Dilla on October 17, 2015, 09:49:12 AM

Scaling/increasing block size debates would solve this issue.

In case you missed it. This issue will not be solved any time soon. If ever...

It's not a matter of if, it's a matter of how right now. It may take time, but it will happen.

kwukduck

legendary

Activity: 1937

Merit: 1001

Quote from: Dilla on October 17, 2015, 09:49:12 AM

Scaling/increasing block size debates would solve this issue.

In case you missed it. This issue will not be solved any time soon. If ever...

Dilla

hero member

Activity: 588

Merit: 500

Scaling/increasing block size debates would solve this issue.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

He never said that as far as I know , but he said the following :

Feb. 14, 2010: "I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume." which means 2030 (if we start counting from the day he posted the quote on the forums ) and not 2020 .

toinew

member

Activity: 61

Merit: 10

Satoshi said, by 2020 bitcoin is eitheir mainstream either will disappear (quotation welcome, i didn't find it)
But how can it be mainstream with 7 transaction per second ? And if it's not mainstream, satoshi's logic woul tell us that bitcoin will disappear by 2020 Huh

Topic: satoshi's logic is not so logic - page 2. (Read 2604 times)