Replying to Avatar NostrDamus

btc is being attacked on two fronts from outside and from within. satoshi's white paper spoke of nothing more than a medium of exchange. the store of value was never mentioned. it is arguable therefore the value is the medium of exchange.

crisis of confidence - small blocks, big blocks.

small blocks allow millions of nodes to run domestically. they also protect against 'dod' attack of the network. in the early days this was necessary. today with millions of users, less so.

big blocks allow for more and faster transactions. btc is scaleable. it always has been. spv made that possible, it is still possible today. the small blocks were only a precaution in the early days. so why do we still have small blocks?

small blocks make it easier for everyone to store a full node. given the full node is less than a tb, this is really not a something we should be worried about. most businesses run 40tb servers+. btc could expand the block size and still maintain 100s of thousands of nodes. so why keep blocks small? who wins?

in the short term those setting fees. in the long term, nobody. btc will fail to be of any value unless it is returned to being a medium of exchange. it is only an asset if it has value to people. if the network only handles the monster payments, what value is it to you and i?

dollar go up is completely the wrong thinking.

use btc to avoid fraud, corruption and dystopian rule. return to a free market and peace. the value in that is instant.

if you are in business or starting out price in btc. sell, buy borrow lend .... in btc and create the world you want for you and yours.

lets also open the discussion around block size again and stop the censorship from within. this way we win on both fronts. we leave fiat behind and move on with the world's best money.

GM 🙃

It’s not about how many nodes can be run; it’s that anyone can run a node without, as you say, 40TB servers.

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thanks for the reply brett.

it was my thinking too. lately with fees rising rapidly and miners cherry picking transactions, it is a question at the back of my mind, what happens when the rest of the world gets on btc. how long and how much a transaction? privacy is great but functionality has to be considered as well.

increasing block size increases speed of processing. it also introduces other issues eg: what is is allowed to be included in block...

cost of technology is ever decreasing is a 40tb hdd really a stretch 10 years from now? that allows network to scale over 40.

thoughts?

GM 🙃

Firstly, I’m not an expert by any stretch. I’m just speculating…

I ask myself, can the entire population use Bitcoin? Given 21 quadrillion satoshi and 8 billion people, that is about 2.6 million satoshi per person on Earth. However we know that there are only around 1.5 quadrillion satoshi to be mined and if we are ridiculously generous and say 1 billion people already use bitcoin, that leaves around 250k satoshi per person. And that is assuming no more accumulation by people who already have bitcoin. Basically I think that there is no possible way everyone can use bitcoin without major changes to the protocol including both blocksize and total units, the latter being a complete non-starter. And if bitcoin is going to change and not be for everyone, then I don’t think it’s worth making that change at all.

GN 🫡