Unfortunately for money to have store of value efficiency it must ultimately have value which with bitcoin rests again on its currency efficiency.
Miners could only store non dust UTXOs in easily accessible storage and ignore incoming txns that spend them unless the fee is worth the cost to look the UTXOs up. There are so many possibilities. Your problem is that you are a central planner even tho you dont know it -- you are forcing a particular solution (expensive limited txns) onto the network as a whole.
Miners could only store non dust UTXOs in easily accessible storage and ignore incoming txns that spend them unless the fee is worth the cost to look the UTXOs up. There are so many possibilities. Your problem is that you are a central planner even tho you dont know it -- you are forcing a particular solution (expensive limited txns) onto the network as a whole.
He refuses to understand where the speculative value of bitcoin lies, the decentralised cheap unlimited transactional nature of bitcoin coupled with first mover advantage and importantly the expectation of progressive adoptive waves of new users.
If bitcoin is crippled and day to day transactions are forced off chain then bitcoin ceases to maintain either it's attractiveness or advantages over competing usurper chains. It isn't hard to see a migration of new users to alternate chains or digital monetary media and a collapse in the exchange price of bitcoin if that scenario plays out.
Does the Core team really believe bitcoin will maintain it's speculative value if it continues to be a play thing for 10,000 people globally?
