Quote from: davout on March 11, 2015, 05:05:10 PM

Quote from: Cryddit on March 11, 2015, 04:45:08 PM

The answer is clearly no, because a transaction backlog means people have to wait for their tx to go through and have no guarantee that they'll go through at all, thus they stay away in droves and the miners get no fees.

Let's put a bullet in the head of this argument once and for all.
If people drive away, it frees up space in blocks, it's a self-correcting problem that nicely filters out people that thought they needed the Bitcoin-level bulletproof security level and finally realize they didn't.

You are correct, but not in the mindset of the Fundamentalist Monopolists. They consider altcoin use heresy, and seek to include every possible transaction on the One True Blockchain as an offering to Lord Satoshi.

This isn't about economic logic (with its convenient self-regulating substitution effect) for them, it's an ideological desire to wage jihad on altcoins.

Thus they pretend that we face a false binary choice between Bitcoin and fiat, with no regard for

https://en.wikipedia.org/wiki/Substitute_good

and all the off and on-(alt)chain (Lite/Prime/Peer/Doge/*-coin) options in between. These more established altchains also offer bulletproof security, but not ultimate NBC (nuclear, biological, chemical) survivability to the extent of BTC.

Then there is the greedy VC/.gov pet project of making BTC a retail/consumer standard, so corporations and taxing agencies may use its radical transparency to analyze even more intimately details of consumers' preferences and spending habits. Tongue