Quote from: ArticMine on June 03, 2015, 06:20:17 PM

Quote from: Fuserleer on June 03, 2015, 06:12:22 PM

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Ok, that is technological advancement, and the resource requirements at any moment in time may be less than they were before. I have little doubt that in 50 years time, my iWatch V10 can process 100k TPS with ease, but that is not the issue I was raising and your response also sidesteps away from your original statement which I countered.

My point was that as of today, it is not possible to achieve 100k TPS on a block chain, without using tricks and hacks, yet maintain the true nature of what crypto-currency is meant to be. The resources required to do that vertically is too great, in 10-20-50 years time it may not be the case, but everyone wants this now, not in 50 years.

Yes but one cannot justify crippling Bitcoin to the current technology for ever. Furthermore many of us are looking at Bitcoin for its future rather than present value. Even over the life of Bitcoin we have a significant example. The cost of sending 1MB of data at the start of 2009 is the same as sending 21 MB of data in mid 2016. It is called Nielsen's Law http://www.nngroup.com/articles/law-of-bandwidth/

To come to the VISA example should credit cards not have been launched in the 1940's because it was not possible to scale to the levels of the VISA network of today with the punch card and tabulating machine technology of the day?

I'm not suggesting it should be crippled, merely that it can only live within its technological means due to its architecture at that moment in time. The architecture imposes its own limits because of the lack of available resources to perform better, or conversely, the resources available (or lack of) impose the limits onto Bitcoin. This doesn't cripple anything, because over time as the resources available increase (or efficiency increases), Bitcoin is able to take advantage of them.

The same is for any currency, be it Bitcoin, Nxt, and others, they are limited in operation by the efficiency of the resources demanded by the implementation, at that moment in time.

There is no way to work around the resource limits available at any one moment in time in a vertical manner, which is the problem here with these "high TPS currencies", be it bandwidth, processing, storage...you can only be as efficient as the most efficient available resources will allow...past that, you have to start chopping things out and reduce the work load.

I'm sure that VISA didn't have 1 person verifying and doing all those punch card transactions, they had many, so it didn't matter that the resources available to do it were extremely inefficient.

Block chains are like that scenario of just having 1 person, no matter how many nodes you have everyone of them is verifying the same data as everyone else, which is exactly the same (in terms of performance) as having just one verifying all the data.