Post
Topic
Board Bitcoin Discussion
Re: P2P Cash or Settlement Layer?
by
Lauda
on 22/03/2016, 16:29:50 UTC
This is what was so good about BIP101 in that the block size would automatically increase every 2 years, so there would not be this contentious debate that is making Bitcoin look very bad to the outside world all the time. Granted the doubling of the max block size every two years might have had a higher growth rate that Moores law would be able to support over the long term, but this could have easily been fixed by say slowing the growth rate to something like doubling the max block size every 2.5 years, or increasing the maximum block size by 75% every 2 years, or increasing the maximum block size by 75% every 2.5 years, or some other variation thereof.
BIP101 was horrible because of many reasons. I have no idea why you would say that it was good. Additionally, Moore's law is not a law in the traditional sense but rather an observation based on nothing. Even Moore himself confirmed this. Relying on something like that for scaling would be a very bad idea.

Cash is money for the people, a currency that everyone can use cheaply, directly, easily and quickly. A settlement layer is what large financial institutions use to settle balances between them. It is exclusive, elitist and reinforces or recreates the power structures we have today. Settlement networks would become obsolete if people chose to use cryptocurrencies on mass as currency.
Fair enough, however you don't seem to list any features in comparison to the other list (about P2P Cash). How would Bitcoin as a settlement layer even look like?