The way to generate resiliency for Bitcoin is to get to the point that each block generates $10M in fees.
Today each block generates around $4,500 in fees on average.
That is not resilient, that is weak and easy for any state to attack.
This idea that using fee pressure on a low # of transactions is a way to get to high value blocks from fees is absurd. The way to get to high value blocks is tons of transactions paying minimum fees.
Agree with the first 3 sentences, but only in a superficial way. The fourth is just more absurd, Frappuccino Doc-esque bloviating.
As fee pressure rises, "attacking" (IE filling up) blocks becomes more expensive. An attacker would have to pay higher fees than anyone else to stop tx propagation. And PT's replace-by-fee makes that already unworkable strategy obsolete.
Your naive $4.5k/block figure illustrates the fact GavinCoin won't fix this so-called problem; 20 (or eight) times $4.5k is still nothing to any semi-resourceful attacker (much less TLA national statists).
The only way to densely pack "tons of transactions paying minimum fees" into the extremely scarce resource of the blockchain is to use LN/SC/alt/off-chain mechanisms to aggregate payments and settle on the MotherChain. Even on a cluster of 24-core Xeons, blockchain tech cannot verify tx fast enough to *DIRECTLY* compete with centralized/specialized Visa-scale infrastructure.
As others have already noted,
Bitcoin's value comes from its decentralization, not low tx tees. If u don't value that, centralized systems can meet ur needs
and
"universal payments" is both a laudable goal and a
shopworn bitcoin marketing slogan.
The fundamental engineering truths diverge from that misty goal:
Bitcoin is a settlement system, by design.
The process of consensus "settles" upon a timeline of transactions,
and this process -- by design -- is necessarily far from instant.
Alt-coins that madly attempt 10-second block times etc. are simply a
vain attempt to paper over this fundamental design attribute:
consensus takes time.
As such, the blockchain can never support All The Transactions, even
if block size increases beyond 20MB. Further layers are -- by design
-- necessary if we want to achieve the goal of a decentralized payment
network capable of supporting full global traffic.