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0 pointstaysic8y ago0 comments

"7tx/s doen't do much good if scaled linearly"

Why not? Bitcoin Cash may be more vocal in the Chinese miner community but there are plenty of Americans who believe in it too. The storage issue both chains will have to deal with if they are used in any big capacity

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PeterisP8y ago

Because solutions that are practical for getting 2x or 10x the capacity aren't sufficient, since getting used in big capacity requires a vision that can give a thousandfold increase, and increasing the block size can't ever provide that in a practical manner.

If you want to scale a huge cliff, going to fetch a 20 feet ladder will not help you.

jgord8y ago

I think that its quite possible that we can see scaling of 1000x on the linear blockchain, without fundamentally changing the economic/security properties.

Increasing blocksize is just the first thing to do of many engineering optimizations. If you want to climb Everest, you first need to reach base camp.

Even if LN works great and scales beautifully, we will still need that 100x increase in the blockchain that it settles on. LN itself will create transaction demand - people aren't paying $2.50 in fees now to buy a $3 coffee with bitcoin.

Frogolocalypse8y ago

> I think that its quite possible that we can see scaling of 1000x on the linear blockchain

In order for your fantasy to become a reality the tens of thousands of current users of the core ref nodes would have to uninstall their node clients and permanently remove their ability to ever validate their transactions on the blockchain. That is never going to happen.

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