LN-BTC & LQ-BTC are real usable forms bitcoin one used for instant spending - circular economy building
#spending #store-of-value both are important.
#bitcoin mainnet is just WHALE vault now
#plebchain
Discussion
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Indeed. But don’t fret. There are very clever ways of 1) combining signatures across inputs so you and 10,000 of your friends can make one transaction with 10,000 inputs and outputs but only 1 signature. This will save roughly 50% on block space. And 2) sharing single UTXOs between multiple parties. This could save 50-90% or more on block space, but is much farther off.
Necessity is the mother of all invention. We need high fees to get the most efficient use of block space. There is still much work to be done on the software front.
mainnet was NEVER designed for POS payments - that simple. SHA256 algo and 10min blocktime BOTH are not suitable anymore
Not sure sha256 is of any blame, but limited block space was a happy accident. You can kill bitcoin by centralizing or pricing everyone out of the market. This is a delicate balance.
time will tell what evolves as everything is reactive in nature. only measurement of success is fiat price value for now.
Indeed.
That said, I’m prepared to get blockchain data without internet access. I have @blockstream satellite data packets broadcast to every port in my house…even if I lose internet access, my nodes can stay synced anywhere they plug in.
Whale vault is also normal vault. Everyone needs access, fees will be high though and for many it’ll be pointless to take small stacks off exchanges 🤷♂️