Post
Topic
Board Bitcoin Discussion
Re: Bitcoin 20MB Fork
by
iCEBREAKER
on 08/02/2015, 05:00:07 UTC
I don't propose Bitcoin replace Starbucks cards, much less bank-wires.

I support the paradigm of Bitcoin as a new kind of 'super-gold' that creates its own category on the spectrum, supplanting all previous forms of money:

That might not work out as you imagine. I would wager a lot of money that it would fail miserably, and if Bitcoin was stuck at 1 MB of transaction data, an altcoin blockchain will simply replace Bitcoin as the market leader as users opt for it rather than paying higher fees.

I also don't want a Bitcoin blockchain that is a "super gold" transfer system, that only large financial institutions can afford to directly access.

Not 'an altcoin blockchain' but rather plural 'blockchains.'

I want the distribution of wealth in crypto to look like the pie chart of mining pool hashrates.

Bitcoin should be the largest, followed by many smaller ones, not a top-heavy 85%.

The Maximalists should stop thinking like a Bill Gates wanna-be monopolist, abandon their Tower of Bitcoin, and embrace Nash Equilibrium.  Because this:

https://thewealthofchips.wordpress.com/2014/12/01/securing-decentralization-through-nash-equilibria/

If 1MB starts creating problems, let the market and ecosystem deal with them for a while and see what they come up with.

Then, armed with empirical data, we can decide with higher consensus whether to change it, and by how much.