windfury has gone way overboard advertising segwit and LN lately. im starting to wonder why. especially with lack of stats to back it up
the reality is this
1. fees now are MORE then they were when segwit was conjured up as a solution that could lower fee's. so its not actually lowered fee's. it just hiked them up pre segwit and then offered just a modest discount to bribe people to use segwit (ven hough after discount fees are still higher)
by this i mean in 2015 when blocks were approaching 1mb limit the fee's were cheaper before segwit than fees are now even when blocks now are not full
2. blocks are not full, not due to segwit solving anything, but because there are less transactions per block.
yes less people are using bitcoin
3. i know he will spin around and say mor % are using segwit. but if you start selling 2500 banana's where 0% are green
and then start selling 1500 banana's and of the 1500 banana's 10-40% are green.
that does not mean that they are selling 250-1000 green bananas(using old normal utility)
that does not mean that they are selling 2750-3500 bananas
they are only selling 150-600 green banana.. meanwhile 1000 people stopped buying bananas altogther because the price to even touch a banana has gone up
.. all it takes is a good look at the statistics can show this
he is trying to say the unconfirmed tx is due to more transactions and more than 1mb
yet. all he is showing is unconfirmed transaction count.. but that has NOTHING to do with segwit
.. when you look at the block data there are LESS data per block
https://www.blockchain.com/charts/avg-block-size?timespan=2yearsand less transactions in general
https://i.imgur.com/hYz5NuG.pngbecause less people are transacting. and yet FEE's are HIGHER than 2015
now then
bitcoin actually was planned to REDUCE min fee/min dust/min relay when btc price rises.
EG when prices went from $600 to $6k or $100 to $1k . the decimal of min fee/min dust/min relay SHOULD HAVE dropped to counter deflation.
but the group pushing to promote segwit actually pushed UP the min fee, to cause a fee war and then spam the network to get the feature they wanted.
and since then the fee's are stil higher than before segwit.
lets put it into context
even if segwit was not adopted.. if the btc core crew reduced the min fee by 1decimal to counter the BTC price.when BTC went from ~$600 to ~$6000...
then based on transaction counts fee's would have been the same as 2015
but what happened though. is core DID NOT reduce the min fee by 1 decimal to counter the btc price rise. but they also done their witness scale factor trick
this is why it feels like data for data. price equilibrium makes it a 40x fee hike compared to 2015
hense why the half penny of the past is now ~$0.20 average at best. which segwit then trickery gives segwit a $0.05 fee as the bribe to use segwit.
even though thats still 10x more then 2015 of similar data position.
im guessing he may rebutt about the data of a segwit transaction....
well, take a transaction of lets say 2-in 2out of full validation data of a transaction, both legacy and segwit
you will find segwit actually uses more bytes than with legacy
maybe its time windfury done some research rather than just PR
i would give windfury the benefit of doubt that he simply was not around in 2015 to know what really went on in the community. but seeing his latest efforts of PR. im starting to doubt that as his reasons for promoting segwit, even when the real stats show overwise.
(fee total $ per day 2015 $*k 2018 $***k even though prices only went up 10x(yea he cant even twist it into blaming deflation(pricerise) because i mentioned above ))
