Quote from: r0ach on June 15, 2016, 10:24:05 PM

Quote from: dumbfbrankings on June 15, 2016, 10:20:11 PM

Quote from: r0ach on June 15, 2016, 10:15:48 PM

Quote from: dumbfbrankings on June 15, 2016, 09:50:04 PM

In your subjective opinion... when does it get high? 25 cents, 50, $1 for one of the smallest transactions you can make?

Since most people in the speculation section are morons, let me explain it for you. Even if you raised the block size to 8MB, that would only allow Bitcoin to have market penetration as a checkbook type device for large value transactions in middle/upper middle class, first world nations of around $10,000 transactions and higher. There is absolutely no fucking room whatsoever on anything that uses a blockchain for microtransactions.

Even with 8MB blocks, fees would still be high and you'd only use it for huge transactions. The only people doing transactions on the blockchain will be rich people, or financial entities doing settlement transactions. Anyone not doing high value transactions will be pushed to off-chain solutions, or second tier networks of Bitcoin like Lightning Network where you can do all the cheap microtransactions you want.

You will never have microtransactions directly on chain. You will never have cheap transactions while using a blockchain either. They're only suitable for high value transactions.

My car will never go 300 MPH, and would break if it somehow could. Does that mean I should keep a speed limiter in place to keep it under 10 MPH?

Invalid example. Not everyone on the planet has to pay for your gas (verification).

And not everyone on the planet has to run a node.

You're thinking like a monopolist again. The first mover advantage is not a sufficient barrier to competition from cars that do 20-30 MPH.

I remember you used to write somewhat coherently on raising the blocksize, if not everything else, what happened? Drank too deeply from Gregory's cup?