Quote from: BitconAssociation on March 03, 2016, 02:22:38 PM

Quote from: BitUsher on March 03, 2016, 02:13:14 PM

Quote from: mainpmf on March 03, 2016, 02:06:23 PM

Which means you want to limit btc usage to important tx. Which means btc will never scale and will never be able to be used on an everyday basis.

Correct, We should limit on chain tx's ... this isn't a secret or anything to be ashamed about. The main chain necessarily needs to be treated as a settlement network for payment channels. ...

Because off-chain transactions can be done without Bitcoin, and will be.
Just like the USD has been doing just fine without gold as a "settlement layer."
Thanks for making Bitcoin irrelevant.

To me off-chain transactions has been discussed since the early days. The idea is great for payment processors that have transactions that need to be confirmed instantly and the risk taken by the off-chain network. They use quality controls to limit fraud in their system and profit from impatient players.

The benefit to those who wish to profit from providing services using off-chain transactions is obvious. In a capital market its part of risk reward. off-chain transactions can be used for other types of record keeping.

When dealing with the upcoming potential realization of this avenue, the wait and see approach may be the best option at this time.

The timing of the halving and the "supposed" risk of network difficulty adjustment has made things interesting.

Remember that in the code difficulty can go up 4x or down 4x the only question is how will transactions occur during that time? off-chain transactions may be a solution with out the added "core changes".