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Author Topic: Bitcoin go mainstream vs keep his value ??  (Read 1360 times)
DooMAD
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August 27, 2015, 10:22:07 PM
 #21

@DooMad, if Bitcoin had a 33MB blocksize now it would be a disaster. Back in the day it wasn't a problem because only 4 geeks used it, now Bitcoin is under attack constantly because it's the biggest disruptor since the internet. The fact the blocksize is being evaluated this much is because we need to do it accordingly. Actually satoshi made it 1MB when bitcoin started getting more people and he saw the risks of a big blocksize.

No it wouldn't be a "disaster".  1MB blocks don't prevent spam, they just make it last longer in the mempool.  It doesn't magically make the spam that's already been sent over the network any smaller.  All it does is make it wait for a little while before adding it the the blockchain.  It all gets through in the end.  If you want a blockchain that's spam-proof, try again, we're failing miserably at that so far.  And it's certainly no valid pretense to try and force legitimate transactions off-chain to benefit a small minority while providing a lesser service for everyone else.  

If the minority want their own exclusive, elitist blockchain to take them to the moon, they should have researched a little more carefully before buying into this one.  The ideal vehicle for that venture is not an open source, permissionless one.  A vehicle for the masses is what this system will naturally evolve into whether the elitists like it or not.  The only thing they can do to stop it is to keep spreading FUD about how even marginally bigger blocks are tantamount to death (so notice what they're doing right now?) and it's getting old already.

Again, we need a realistic blocksize that reaches a fair compromise between security and capacity.  

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August 27, 2015, 11:50:03 PM
 #22

I try to pay the equiv of around $10 per transaction in fees.  

and I pay currently 0.01 BTC as a fee since that was worth it for the service I get.

Wait, what?  Did you suddenly get more generous in the last few days?

Note that I said 'try to'.  The last time I had occasion to move BTC around was when I was selling, and that was when BTC was flittering around 4 figures.  If/when I sell again, I'll probably adjust the transaction fee.


The 'open to all' is EXACTLY the reason I feel as I do.  I am very confident that if bitcoin bloats under the incorrect notion that 'open to all' means 'open to all for free' rather than 'open to all who are willing to support it' it will NOT be 'open to all' by any stretch.

Every single time it comes back to paranoia about free transactions.  I don't care if free transactions get shoved off onto a third party payment network, but if a fee is paid, even an average one, the purpose of that fee is for a miner to confirm the transaction and secure it directly on the blockchain.  Not to shove it off to some third party.  Not to guess what fee you need to pay to make it in to the next block.  Not to wait if you guess wrong.  Not to provide a shitty service for the average user.  Not to turn the forum into a massive clusterfuck of "Bitcoin is slow and expensive" (the opposite of what it is now).  That's what you'll get if you try to run the network constantly with full blocks.  If people keep suggesting that a fee market alone suddenly makes bitcoin scalable, they're simply deluded.  Taking that route just means we'll be having this argument again later and it'll be much easier next time around when it's proven beyond all doubt you're wrong.  

I'm not saying let's have an unlimited system and free shit for all.  I don't think anyone is saying that.  I'm saying let's have a realistic blocksize that reaches a fair compromise between security and capacity.  

Hint:  that compromise sure as hell isn't as small as possible to make a few early adopters wealthy and screw everyone else over.


Bitcoin is a batch system.  It never was suitable as an exchange currency for buying trinkets and that is why it is not successful here.  Attempts to shut our eyes to this realitiy and kludge around it only add problems.

'slow and expensive' means vastly different things to different people.  To me it means rock hardness and robustness against attack and that is exactly what I am looking for.  It also means something which is a suitable foundation upon which to design and build solutions which actually are good for a wide variety of uses including those which are 'fast and cheap.'  Again, I look forward to such solutions for my own use and for other people of all walks to reap some of the benefits of crypto-currency solutions.

Lastly, I expect that I would become more reliably more rich if XT took over and Google, Facebook, and friends had their way with it.  I've already taken some profits so I'm even more inclined to try to achieve with Bitcoin it's true potential as something unique and worth a shit for humanity.  The only thing which gives me pause is that Bitcoin might be detracting from work on something better.  I'm still at the point where I think Bitcoin is the best bet, but not by much.


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November 13, 2015, 05:00:18 AM
 #23

I think BTC will go mainstream and also keep its value, as more and more people will use it. However, there is also a downside to this. The more people who use bitcoin, the less the value might become.

Oh well, time will tell.
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November 13, 2015, 10:51:05 AM
 #24

I do hope it's gonna become mainstream. At least become accepted by more businesses
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November 13, 2015, 11:43:23 AM
 #25

I do hope it's gonna become mainstream. At least become accepted by more businesses

I wouldn't worry about it going mainstream soon enough people will be using the blockchain without even knowing it. Oh yeh buy when its low Smiley
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November 13, 2015, 12:19:18 PM
 #26

I think that once it goes mainstream, there will be more demand and the value of the bitcoin will go higher
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