Thomas Zander [ARCHIVE] on Nostr: 📅 Original date posted:2015-08-12 📝 Original message:On Tuesday 11. August 2015 ...
📅 Original date posted:2015-08-12
📝 Original message:On Tuesday 11. August 2015 21.27.46 Jorge Timón wrote:
> Can we agree that the first step in any potentially bad situation is
> hitting the limit and then fees rising as a consequence?
Fees rising due to scarcity has nothing to do with the problem. Its a
consequence that is irrelevant to me.
Bad situations are roughly divided into two parts;
* technical
* marketing.
The technical part is that we already know of several technical
solutions we
will need when we have a forever growing backlog. Without them, nodes
will
crash.
On top of that, we can expect a lot of new problems we don't know yet.
IT experts are serious when they say that they avoid maxing out a
system like
the plague.
Marketing wise full blocks means we can only serve 3 transactions a
second.
Which is beyond trivial. All the banks, nasdaq, countries, businesses
etc etc
now contemplating using Bitcoin itself will see this as a risk too big to
ignore and the 1Mb Bitcoin will loose 99% of its perceived value.
If you want fees to rise, then it should be viable to be used, withing 6
months, for something bigger than the economic size of Iceland.
(=random
smallest country I know).
--
Thomas Zander
📝 Original message:On Tuesday 11. August 2015 21.27.46 Jorge Timón wrote:
> Can we agree that the first step in any potentially bad situation is
> hitting the limit and then fees rising as a consequence?
Fees rising due to scarcity has nothing to do with the problem. Its a
consequence that is irrelevant to me.
Bad situations are roughly divided into two parts;
* technical
* marketing.
The technical part is that we already know of several technical
solutions we
will need when we have a forever growing backlog. Without them, nodes
will
crash.
On top of that, we can expect a lot of new problems we don't know yet.
IT experts are serious when they say that they avoid maxing out a
system like
the plague.
Marketing wise full blocks means we can only serve 3 transactions a
second.
Which is beyond trivial. All the banks, nasdaq, countries, businesses
etc etc
now contemplating using Bitcoin itself will see this as a risk too big to
ignore and the 1Mb Bitcoin will loose 99% of its perceived value.
If you want fees to rise, then it should be viable to be used, withing 6
months, for something bigger than the economic size of Iceland.
(=random
smallest country I know).
--
Thomas Zander