https://www.yours.org/content/can-bitcoin-cash-scale-on-chain--4c977e7218cb/?utm_content=buffere7e03&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer "In the end the way you scale any software is to push it to the limits, identify bottlenecks, optimize, then wash/rinse/repeat. That’s the Bitcoin Cash scaling plan in a nutshell." What happens when the problem is that you created a yottabite monster that can't be squashed back into Pandora's box? Layer two seems like a much smarter and more long-term strategy no?! By not raising blocks they've stimulated second layer activity/progress and optimised the future version of BTC's chain by making it smaller. I want the thing that will be 'better' in 5 years, not the thing that works better today.
Very few would use BTC as currency now IMO as the deflationary drag (HODL) is too high sub $100k. First take on gold and break 6 figures, then we can talk about currency. At that point LN will be robust and optimised, just send your month's wedge to your channel for a few bucks, as if from a savings to a current account. I wouldn't spend my BTC at this stage unless I had no other choice, very few people have no choice and BTC turns people into savers.... for now. Fees are also back to a pittence and BTC remains strong over $10k with millions of holders.
Why are people so impatient?
BTC = Verify, don't trust! We don't have to sacrifice that if we can be patient.
Can someone please explain to me how I'm wrong? I'd rather not be wrong. I sold my free BCH dividend long ago. I can't buy the idea of people 'spending' their BTC en masse until the price is going up <100% pa. I don't see that happening for another year or two so LN will be the most efficient and cheapest option for user txs, whilst BTC will be the smaller and more accessible chain for small businesses wanting to run a node.
Can anyone convince me I'm just missing the big picture? How does a marginal use-case like hyper-deflationary currency (in the face of lots of cheap crypto and stable fiat alternatives) topple the network effect of a censor resistant store of value leader? SoV can lead to currency eventually, capacity isn't enough to do it by itself... is it? Value comes from trust. Folks do not trust Fakesatoshi, Jihan and Roger and they don't trust a 'Yottabite landfill' blockchain with their long term savings/investment (apparently since it has <15% of the value). They trust the 1mb chain that exists now and they want the efficiency, price and speed of LN when the time comes to use it as money.
Surely the fact that dodgecoin is consistently doing as many or more txs than BCH says it all? If you value your BCH as currency then you'll spend it. That means 9/10 it'll get turned into fiat by the vendor. Currency = sell pressure at this stage. If you're not going to spend it and you just HODL then what's the point in your big empty blocks? Meh, I'm kinda glad BTC doesn't have that many spenders just yet. I'd rather wait until vendors need to have channels of their own stacked with coin and they feel comfortable holding more of their businesses wealth in BTC.
Anyway, people keep telling me I'm wrong but failing to convince me. I thought I'd throw it open to any generous soul willing to impart wisdom and correct me?
