one that can scale right now to peak-time VISA levels, by design.
Y'all realizer yer fabled LN can't scale to Visa levels without a huge block size increase, right?
I can't prove to you that it can, but I believe that it is several orders of magnitude better than a mere block size increase.
A block size increase is equivalent to enlarging a steam engine in the hope that it will take you to the moon, when all you really need is a rocket engine. It's not about size, it's about technology.
There are even more things about the LN. I think, besides the transaction capacity increase, the incentive to run full nodes is the most important. LN seems to provide a monetary incentive to run full bitcoin nodes. By now that is a service that
A) does not interest miners, as it is software and miners are all hardware
B) has no monetary compensation
LN seems to be able to run alongside a full node with minimal additional effort while alowing the node operator to collect some sort of fees or provide services.
So, full nodes are a basic necessety for bitcoin to function properly, but have no monetary incentive. The network has to rely on the goodwill of people to function. This is not sustainable.
So, the whole thing is not only about increasing transaction capacity, but building a system that works on all levels by design. Which neither bitcoin nor bcash currently do.
And on other news, LN acts as a multiplier to transaction capacity on the scale of times 1000 and more.
So, core has a plan and it is a good one. Segwit optimized transactions, effectively doubling block capacity, LN will add another times 1000 multiplier and when all of that is in place, the next step is to increase the block size.
Add 1 MB to Bcash and you have a transaction limit increase of 7 tx per second.
Add 1 MB to Bitcoin with all optimizations in place and you have an increase of 14000 tx per second (7 * 2 * 1000).
So, Bcash needs to have 2GB blocks to achieve the same tx capacity as a fully operational
death star bitcoin has.
And on top:
Bcash still has no monetary incentive to run a full node besides goodwill. This has no long term sustainability.
P.S.:
Yes, having a block size increase would have been nice in the short term, but doing a hard fork on bitcoin for something that is no more than a band aid on a leaking high pressure valve is utter nonsense. It might help for a moment, but the gain doesn't justify the risks.
Poll
