The 1mb cap wasn't introduced because of concerns over the bandwidth requirements for nodes, it was intended to be an anti-spam measure, but apparently it failed miserably in that goal. The blockchain didn't "grow huge" before the cap was put in place. Also, it's not a "solution" at all if it doesn't solve the problem of limiting the amount of fees the miners can collect. Nodes won't be any use at all without sufficiently incentivised miners to secure the network. In order to generate more fees for miners, it will be necessary to accommodate more transactions over time. Users want to get their transactions on a blockchain. If Bitcoin isn't the simplest and most convenient way to do that because you're funneling transactions into your lightning colostomy bag network, another coin will come along that hasn't been artificially crippled and doesn't rely on a third party bolted on top. If that coin turns out to be a more attractive proposition for users, what's their reason to continue using Bitcoin? If users are then transacting on another network, why are miners going to stick around to secure this one?
Third party layers should be strictly reserved for micropayments and transactions that don't include a fee. And as much as small block proponents obsess about micropayments, they really aren't the issue. Even after they're swept under the carpet, Bitcoin still needs to support more than two-thirds of a floppy disk every ten minutes. If it doesn't, something else will.
Third party layers should be strictly reserved for micropayments and transactions that don't include a fee. And as much as small block proponents obsess about micropayments, they really aren't the issue. Even after they're swept under the carpet, Bitcoin still needs to support more than two-thirds of a floppy disk every ten minutes. If it doesn't, something else will.
Why would users care if their transacations went over the blockchain or not? All they want is to transfer money.
*lol* That's one of the funniest statements you gave in this thread. Sure, we only want to transfer money, let's use paypal or western union maybe. I think you don't get it. Bitcoin is the currency and i don't think that the majority of bitcoins want bitcoin to be split into a bitcoin high amount transfer system and some altcoin bum amount transfer system.
And why do we need to increase transacations to increase mining fees? When we could just increase the fees?
I think the greed is speaking out of you clearly. Just increase the fee... it doesn't matter what effect that has on bitcoin adoption. Guess it would be great for the lightning network owners... higher fee means more customers and that means more earnings for the ligthning network owners.
Well, i'm glad we aren't all lightning network owners.
I do not agree with either parts of your post. Filling up a block costs money, and I doubt that someone would be able to make huge blocks without that costing them a lot. Even if this was the case, a simple higher cap can be implemented to prevent this from happening.
There is no risking with a proper hard fork. Why risk using third party solutions; i.e. meaning we stop relying on the protocol itself?
So you are advocating a even higher block size if the spammers fill up the 8MB blocks?
And you await the spammers to fill a considerable amount of 8MB blocks? What about no block limit at all? Why spamming then? Minimum fee would ensure that it is costly and it would be useless. So everyone who wants to do it would be free to do... only it would not make sense.
You have not? What about those recent spam attacks that happened? A lot of people were complaining about their transactions not going through because the blocks were full. The market did not adapt that time, nor do I understand why people think that higher fees are going to be beneficial to Bitcoin.
The market did not adapt? Are you kidding? The only people that complained were people that used no fees or very low fees. Those transactions should not be on the blockchain to begin with. They are SPAM.
Which shows that the current anti SPAM system works.
*lol* You speak like you never used fiat. Yes, you can use fiat without fees. And yes, bitcoin started to replace a good chunk of it.
Naming legitimate transactions spam is ridiculous. But i think i won't get emotional. Your interests shine through pretty clearly.
