"Bitcoin can’t scale to meet demand, unless demand vanishes and it all fails. If bitcoin is used by 100,000 people today, and we want everyone to use it, we need bitcoin capacity to grow 75,000 times larger. "
i am laughing...
ok so imagine 100,000 PEOPLE use bitcoin.. knowing the stats of actually average usage (5 tx per month)
that works out as
500,000 a month = <18,000 tx/day (btc utility stats)
or even taking debit card utility of ~1tx a day per person, works out as
2.8m a month = 100,000 tx a day (debit utility stats)
which if you actually do som maths..
144blocks a day of ~2500 tx/block = 360,000 tx a day.
meaning
if based on comparing to debit card utility. bitcoin can at just 1mb base block.. be capable of 360,000 people.
or because bitcoin cant be used for all daily needs(not mainstream in every rtailer world wide right now). if based on bitcoin real utility needs average as capable of handling
2million people
in short
knowing bitcoin cant be used to buy just anything. the 1mb baseblock allows 2million people to do needed bitcoin tx a day. or based on a utopia of buying things you can buy with debit card. 1mb can handle 360,000 people.
so a 2mb block can handle double
then in time that can double again..
but that requires blockstream stop controlling the bip proposals and leading the devs down poorly laid out roadmaps.. and actually let the base block grow NATURALLY over time.
Rusty is too cabin fever/stuck in his blockstream motivations that he and his colleagues will scream any dooms day they can to sell their offchain commercial services.
so much so they have even removed fee priority, and added things to be the cause of a fee rise even when demand is low.
"Yet we’re already struggling with 140GB of storage caused by bitcoin’s first 8 years when it was mainly not being used, and rampant mining centralization which makes everyone nervous about making things more difficult for small, independent miners."
struggling with 140gb?
lol
as for mining centralisation.. ASICS DO NOT CONTAIN A HARD DRIVE..
asics will function if there was a 1mb block or a 32mb block.. asics do not see the whole block data!!