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So it is not that the Bitcoin whales subjectively desire our non-whale transactions to be off chain. They objectively have no choice, because of the technical design of Satoshi's PoW.
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You can think about it like about big conspiracy but real life can get you on ground.
Yes we stand today at wall we choose scalability solution even there is demand for those transactions it will be capped at current design.
BTC @price like 600$ was that when people were able to buy BTC and transact and build/run applications on BTC (like counter party)
https://blockchain.info/charts/transaction-feeshttps://blockchain.info/pl/charts/n-transactionshttp://coinmarketcap.com/currencies/bitcoin/#chartsSo for me BTC was at balance 10.2016 price BTC 600$ and average fee 0.15$ 220 000tx/day
BTC was out of balance 03.2017 @1200 and fee 1$ 300 000tx/day cap reached.
So balance that allow you to rise is like:
1MB - 600$/BTC - 220 000tx/day - 70% blocksize > 0,1 MB internet connection + 37 GB/year
If you want rise in BTC price you need:
10MB - 6 000$/BTC- 2 200 000tx/day - 70% blocksize > 1MB internet connection + 370 GB/year
100MB - 60 000$/BTC- 22 000 000tx/day - 70% blocksize > 10MB internet connection+ 3 700 GB/year
1000MB - 600 000$/BTC- 220 000 000tx/day - 70% blocksize > 100MB internet connection+ 37 000 GB/year
Visa have 2000tx/s so 172 800 000tx/day
Those are HARD data you cannot go over them. To me goal that want BTC-U achive is FUKING JOKE this is not do able in decentralized system, those miners aim to be "Visa" even if it will be possible BTC won't no longer decentralized who will be able to handle that chain ?
BTU system is utopia but users doesn't have resources to adapt. BTC-U won't be p2p but user2datacenter.
Data-centers can be shutdown can be regulated can be DDOSed. Governments can go to those datacenters and force them to move into any fork they want.
Segwit will push fee price into heaven over time, but to make BTC cheaper you will have to use decentralized 2nd layer solutions.
2nd layer solution is just pure need and can not be bypass for me.
There is scenario when we have that would be coin with
no blockchain.
But this is not BTC patch.
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Btw, to profit on the upcoming scenario such that you can sell the fake Bitcoin asap before its price collapses, you might think that you will need to have your BTC in a wallet (not on an exchange) and then you will need to spend your Bitcoin for an altcoin or fiat making sure your transaction fee is small enough that it only goes into a large block. Then later you will need to join together with other Bitcoin holders to issue a joint transaction with a high enough transaction fee to make it into a 1MB block.
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Depend bro who is really behind that fork miners ? or China government ? If miners have China government support they can buy all those cheap BTC-U and pump it then sell that product as China digital currency. China government is not that stupid they will allow it to rise and they will point guns at central miners to make some changes in few years when people won't be able move away from BTC-U.
If behind BTC-C is US government (fraction reserve is their old school trik ) while behind BTC-U will stand China government it will be interesting battle. You can not say in 100% accuracy that BTC-U will be worth shit - China central bank can buy your dump.
If Chinise were planning such attack then we will see that in price.
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yea fucking sure... man this is insiders game they new something that you don't + add too all now are BTC laving big coins DASH/XMR to play PnD on other fields ICN is quite good IMO, platform will be soon ready they go in position now.
THANK YOU DASH this pump will be sponsored by DASH LTD
