📅 Original date posted:2015-08-12
📝 Original message:On Tuesday 11. August 2015 21.27.46 Jorge Timón wrote:
> Can we agree that the first step in any potentially bad situation is
> hitting the limit and then fees rising as a consequence?
Fees rising due to scarcity has nothing to do with the problem. Its a
consequence that is irrelevant to me.
Bad situations are roughly divided into two parts;
* technical
* marketing.
The technical part is that we already know of several technical
solutions we
will need when we have a forever growing backlog. Without them, nodes
will
crash.
On top of that, we can expect a lot of new problems we don't know yet.
IT experts are serious when they say that they avoid maxing out a
system like
the plague.
Marketing wise full blocks means we can only serve 3 transactions a
second.
Which is beyond trivial. All the banks, nasdaq, countries, businesses
etc etc
now contemplating using Bitcoin itself will see this as a risk too big to
ignore and the 1Mb Bitcoin will loose 99% of its perceived value.
If you want fees to rise, then it should be viable to be used, withing 6
months, for something bigger than the economic size of Iceland.
(=random
smallest country I know).
--
Thomas Zander
Thomas Zander [ARCHIVE] /
npub1du…vyg93
2023-06-07 17:33:55
in reply to nevent1q…7qhw
Author Public Key
npub1du3xh5wgds32a5fweqkd9k45kh30wl7kv2kyu8ugz9c2ztdg00tqqvyg93Published at
2023-06-07 17:33:55Event JSON
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"content": "📅 Original date posted:2015-08-12\n📝 Original message:On Tuesday 11. August 2015 21.27.46 Jorge Timón wrote:\n\u003e Can we agree that the first step in any potentially bad situation is\n\u003e hitting the limit and then fees rising as a consequence?\n\nFees rising due to scarcity has nothing to do with the problem. Its a \nconsequence that is irrelevant to me.\n\nBad situations are roughly divided into two parts;\n * technical\n * marketing.\n\nThe technical part is that we already know of several technical \nsolutions we \nwill need when we have a forever growing backlog. Without them, nodes \nwill \ncrash.\nOn top of that, we can expect a lot of new problems we don't know yet.\n\nIT experts are serious when they say that they avoid maxing out a \nsystem like \nthe plague.\n\n\nMarketing wise full blocks means we can only serve 3 transactions a \nsecond. \nWhich is beyond trivial. All the banks, nasdaq, countries, businesses \netc etc \nnow contemplating using Bitcoin itself will see this as a risk too big to \nignore and the 1Mb Bitcoin will loose 99% of its perceived value.\n\nIf you want fees to rise, then it should be viable to be used, withing 6 \nmonths, for something bigger than the economic size of Iceland. \n(=random \nsmallest country I know).\n\n-- \nThomas Zander",
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