don't forget everyone! BITCOIN CANNOT SCALE! until it does then it still doesn't ... its only been EIGHT MONTHS of arguing over it. #GimpedCoin
Technological progress actually ...ensures that bitcoin not only can scale, but will indeed scale. It's not a matter of if, only a matter of when.
1995 = Pentium 75-100MHz / 8-16MB ram / 1-2GB disks / 14.4kbps - 128kbps connections.
2015 = 4-8core CPUs at 4 GHz / 4-16GB ram / 1-4 TB disks / home connections in the mbps to gbps (for fiber).
Everything has gone upwards like 1000x in 20 years. Processing power, memory, storage, network connections etc. And I'm not counting processing breakthroughs in GPU power or storage speedup like SSDs.
If the trend continues, by 2035 the technology will allow >5000tx/sec, without even improving the software. If the software gets improved (and it constantly is getting scaling improvements), we are talking multiple that - so we'll be seeing VISA-like capabilities way before the 2030's.
Bitcoin is ...doomed to scale, except if some catastrophic failure of our civilization destroys the IT industry. And we won't have to wait for 2035 for scaling, that's just a number. There are incremental steps in hardware and network capabilities all the time. We just want too much, too fast. And that's good because scaling solutions will have to be devised faster. Although one thing will never be overcome: The necessity for fees. It is impossible to have near-zero cost txs AND protect the network for abuse at the same time.
Free txs = attack vector possible for free.
Near free txs = attack vector possible for peanuts.
until bitcoin can scale, then it still doesn't... after EIGHT MONTHS i do not just accept what u say that bitcoin will scale... make it scale and then there is nothing to argue about... if bitcoin still fails to scale in February then we are at NINE MONTHS and all talk .. your talk is bullshiat.. i am going to flank ya . get pissed see if i care .
