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Author Topic: SCAM: Bitcoin SV (BSV) - fake team member and plagiarized white paper  (Read 25230 times)
Procaius
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February 23, 2024, 02:21:12 AM
Last edit: February 23, 2024, 01:13:18 PM by Mr. Big
 #1581


19 million transactions on BSV blockchain on Dec 16th, 2023.

https://whatsonchain.com/compare-stats?comparisonType1=total_tx_count&comparisonType2=tx_count&days=90



BSV Terranode is processing millions of TPS now.  That's scaling.

OK, setting aside the entire debate about the inherent centralization risks imposed by BSV's scaling model, what good does scaling do for a coin if nobody wants to use it?

Fair enough, for now, but what happens after this upcoming halving or next halving when the BTC blockchain reward isn't large enough to convince financially savvy miners to continue hashing when their mining costs exceed their rewards?  Sooner than later it's going to happen.  Transaction fees must replace rewards as the means of sustaining the security model.  How large do these fees need to become on BTC at only 7 tps???
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February 23, 2024, 02:47:50 AM
 #1582

Do me a favor and just do 1 reply at a time, or combine multiple thoughts into 1 post, otherwise your secondary posts may be deleted by moderators.

Fair enough, for now, but what happens after this upcoming halving or next halving when the BTC blockchain reward isn't large enough to convince financially savvy miners to continue hashing when their mining costs exceed their rewards?  Sooner than later it's going to happen.  Transaction fees must replace rewards as the means of sustaining the security model.  How large do these fees need to become on BTC at only 7 tps???

This doesn't have anything to do with BSV. But to answer your question, we'll have to wait and see as its an unprecedented issue. For the next couple of decades I think it will be a non-problem. The current hash rate for BTC is incredibly high. Its fine if it drops a couple orders of magnitude; Bitcoin will still be the most secure blockchain several times over. All other PoW coins combined don't come close to matching the security of its chain.

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February 23, 2024, 03:11:42 AM
 #1583

Do me a favor and just do 1 reply at a time, or combine multiple thoughts into 1 post, otherwise your secondary posts may be deleted by moderators.

Fair enough, for now, but what happens after this upcoming halving or next halving when the BTC blockchain reward isn't large enough to convince financially savvy miners to continue hashing when their mining costs exceed their rewards?  Sooner than later it's going to happen.  Transaction fees must replace rewards as the means of sustaining the security model.  How large do these fees need to become on BTC at only 7 tps???

This doesn't have anything to do with BSV. But to answer your question, we'll have to wait and see as its an unprecedented issue. For the next couple of decades I think it will be a non-problem. The current hash rate for BTC is incredibly high. Its fine if it drops a couple orders of magnitude; Bitcoin will still be the most secure blockchain several times over. All other PoW coins combined don't come close to matching the security of its chain.

Thank you for not mentioning Lightning Network as the solution.  It's a security weak bandaid.

https://www.investopedia.com/tech/bitcoin-lightning-network-problems/
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