My two cents on the negative parts:
- Tail emission, its an inflationary asset
- very few people use it, makes it way less decentralized
- hash computation ridiculous compared to bitcoin, so less secure
- doesn't scale, no layer 2s
- development of the ecosystem is extremely slow compared to bitcoin
Is there a scaling solution needed with dynamic block size?
Yes because when your blockchain has 4 gigabytes blocks and it's no longer decentralized then you will need to find a solution.
What do you mean by no longer decentralized if it has 4 gigabyte blocks? Storage capacity should be no problem for decentralization if the capacity of SSD grows like in the past
It's not about the storage it's about the bandwidth and infrastructures. If you have 4 gigabytes blocks only few percentage of individuals would be able to run a node. Look at ethereum network. Today you can run a bitcoin node on your phone because we have small capped blocks.
Never heard of a full node on a phone. Can you name one?
Monero is far away from 4 GB Blocks. Let's see what solution will come up, if monero hits 4 GB blocksize.
What a great problem to have. Monero is used so much that it is hitting 4 GB blocks 😂
Don't think we'll see that anytime soon if ever...
tell me you don't understand dynamic block size without telling me you don't...
There is nothing complex about it. At some point toward global adoption you'll have huge blocks on average and an increasing centralizing issue because not anyone's terminal would be performant enough to run a node.
Do you really believe Bitcoin can scale toward global adoption right now when it's well known that not even lightning can do this? With a large enough and sustained spike in adoption Bitcoin would break just as easily (practically unusable due to fees and confirmation times, and increased centralization because if the average user can't afford to use the network why in the hell would they run a node?). We see this literally every time there is a modest increase in use. Even lightning breaks when mempool is congested.
Bitcoin hasn't avoided future centralization issues yet either.
If Bitcoin in it's much larger usage and popularity has time to figure it out then so does Monero
Is there any way to figure this out though. I don't think this problem can be resolved without some complex off chin lightning type model, which is an awful solution to the problem. It needs to be baked in and I see nothing that can even theoretically address this problem with bitcoin or monero.
-(See my previous post about scarcity below)
-# of nodes are comparable to Bitcoin nodes
-you can't directly compare hash like that. two totally different PoW algos
-lightning network enabled with next major upgrade FCMP++
-Has 3rd largest dev ecosystem right behind BTC and ETH
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