SimplifiedPrivacy.com Podcast (nprofile…4dhe) is right. Small blocks help you run a node, but what's the point of being able to run a node fon an old $100 computer when transaction fees can get that high?
The block size is fine for now, but needs to scale with adoption and better technology.
Without the ability to conduct bank runs, custodians are free to fractionally reserve Bitcoin.
I'm not suggesting to give up on Bitcoin and go all in on monero, but it has a place to challenge complacency and force Bitcoin to be competitive.
The optimistic game theory for Bitcoin is that nation states will preference Bitcoin and suppress privacy coins. Once Bitcoin grows it will strangle the money printer and diminish the power of nation states. The powerful are then the wealth, who will desire privacy to avoid popular uprisings.
The wealthy will desire the rest to be dependent on their banks and resist attempts to increase the block size. The block size could be increased by the majority of nodes and miners reaching consensus, but with a small block reward keeping mining from being profitable, mining could be captured by bankers who run it at a loss to control the network.
This could be Moneros advantage. Tail emissions keep mining profitable. Variable block sizes allow increased transaction throughput allowing bankruns on any custodian. Without a large custodian control the incentives between miners and users are stronger.
Moneros future is to keep Bitcoin accountable. If Bitcoin gets captured and used as a weapon of control, monero will grow as the coin of the people. By the time Bitcoin reacts, it may be too late.
I'm buying Bitcoin for me and some monero for my grandkids.
Azz
npub1wv…tjhd0
2024-11-12 02:15:19
in reply to nevent1q…nrje
Author Public Key
npub1wvtljy7rmeeeaqat9hwxwq9g7h90ghavtgpvd2yxk400ndlrf4qsytjhd0Published at
2024-11-12 02:15:19Event JSON
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