[2015-12-29] Garzik & Gavin Andresen: Bitcoin is Being Hot-Wired for Settement

[LiteCoinGuy]

Jeff Garzik and Gavin Andresen: Bitcoin is Being Hot-Wired for Settlement

The proposed roadmap currently being discussed in the bitcoin community has some good points in that it does have a plan to accommodate more transactions, but it fails speak plainly to bitcoin users and acknowledge key downsides. The roadmap summary most relevant to bitcoin users is:

Bitcoin is shifting to a new economic policy, with possibly higher fees.

https://bitcoinmagazine.com/articles/bitcoin-economics-are-changing-1451315063

[Denker]

How long will it take until the first come out of their holes and start complaining because paying a coffee with Bitcoin is becoming too expensive.
I think Trace Mayer is asking the right questions: Why do we hire Bitcoin?

There are two economically reasons why people hire Bitcoin:
1.Monetary soreignty
2.Censorship resistance

I recommend to watch this video if you haven't seen it already!
https://www.youtube.com/watch?v=uHXfEJD6DUk

Short but very important quote from the video:

For example, I was having dinner with Dr. Adam Back, Gavin Andresen and Greg Maxwell. I brought this point up, "Why do we hire Bitcoin?". And both Greg Maxwell and Adam Back said, "Monetary sovereignty". Gavin said, "Because when I make a payment, I feel good"

[Cconvert2G36]

How long will it take until the first come out of their holes and start complaining because paying a coffee with Bitcoin is becoming too expensive.
I think Trace Mayer is asking the right questions: Why do we hire Bitcoin?

I recommend to watch this video if you haven't seen it already!
https://www.youtube.com/watch?v=uHXfEJD6DUk

When the fee is greater than the payment for sig spam... you might start making hearing some complaints.