we'll be back over 1000$ in no time.
Yep! 1k incoming,,,, maybe people are giving up the debate or just willing to get back to normal and let the chips fall where they may with BU... who knows lolSomeone made the analogy of increasing the blocksize of going from 1MB to 2MB to 4MB etc.. as the equivalent of going from 2400 to 14.4k, 28.8k, 33.6 modems etc... Whats the problem with that? My 28.8 was awesome compared to my 14.4.
You're not going to have rapid VISA scale transactions on a blockchain. Bitcoin works as it is... not necessarily for buying coffee... but in terms of 'adoption' it has a much wider circulation than any alt coin and can shift large chunks of money around relatively quickly.
The problem is that blockchain is suppossed to be a decentralised network. And for each doubling in block size you are wasting double reasource multiplied for each bitcoin node. Also, at present time, the resources needed in bandwidth and storage are so heavy that the number of nodes has remain almost constant for past years while the price and hashrate has been rising and rising.
At this time, you either have to choose between a (sorta) decentralised blockchain with small blocks or a more centralised blockchain with bigger blocks.
A compromise is segwit+LN which is the only really scalable solution.
Some miners don't like segwit+LN because that means many transactions would be done at LN layer and they wouldn't get a fee of that transactions. Maybe they could grow their current business by setting LN hubs themselves to get a piece of that cake... But I guess they are too obtuse to realise that posibility.
gee, why didn't we think of that lol