Re: Analysis and list of top big blocks shills (XT #REKT ignorers)
You can't get to Visa tps from here. Our only realistic path to Visa is orthogonal scaling, where each tx does the maximum economic work possible.
Obviously you cant scale to Visa with onchain transactions and keep node decentralization. But it does not mean you cant increase to 6tps or 12tps right now and give users much better experience with Bitcoin so it is well worth while keeping node decentralization, not insignificiant and unnecessary as you say.
You're almost half right. The half where you are completely wrong is the one where you pretend trade-offs do not exist.
Bitcoin can't get to Visa scale tps even using fully centralized nodes and silly, hardcoded, ad hoc rules (like the "Max_tx_size = 100k" Gavin considered before thinking better of such indefensibly complex, future-constraining cruft). Verification using current BTC sigop code is physically impossible at 100k tps, no matter what kind of supercomputer cluster you use (except perhaps C01N
).If the first 3 tps are insignificant then so are the next 3 or 9. So, from where does your magically occurring putative "much better experience with Bitcoin" originate?
Let's investigate!
UX @ 3tps: pay a competitive fee (about 12 cents) to ensure priority processing even during peak hours' surge charges
UX @ 6tps: pay a competitive fee (about 6 cents) to ensure priority processing even during peak hours' surge charges
UX @ 12tps: pay a competitive fee (about 3 cents) to ensure priority processing even during peak hours' surge charges
Wow, an entire 9 cents of savings and at only the cost of sacrificing Bitcoin's interesting diverse/diffuse/defensible/resilient properties. Sign me up for that!
Jusk kidding. Actually, I will never trade one iota of infinitely precious, crucial Bitcoin security in exchange for mere additional capacity.
Bitcoin needs every bit of security/decentralization/antifragility it can muster, because the adversity is only beginning to get started.
I'll gladly pay an extra 9 (or 90, or 900) cents to ensure Bitcoin has the best possible chance of surviving endless attacks by the combined might of the world's nation-states, central banks, and hax0rz (not to mention world wars and depressions).
This isn't about Frappuccino discounts and tipping witty cat video commentators; this is a battle for everything.
