Post
Topic
Board Development & Technical Discussion
Re: How a floating blocksize limit inevitably leads towards centralization
by
hazek
on 21/02/2013, 23:39:45 UTC

Sigh, they need to do more research.

Transaction rates can easily scale far beyond 7 tps, even with 1MB limit in place.

The current network is just the base settlement layer.

Many organizations will layer instant payment networks, settlement networks, credit layers and other things on top of the current layer.

Anybody who looks at the current technology and assumes "that's all there is" or "the whole world is limited to the current network" makes fatally flawed assumptions.

Satoshi openly acknowledged this by noting insuitability of microtransactions for the current network, and it is clear that digitally signed messages may be sent, exchanged, combined by a myriad different payment processors, aggregators etc.

Not only can they be but they already are!: Mtgox allows user to user transfer, so does BitStamp and most if not all other exchanges, then we have Coinbase, a platform who's main goal is to be the Paypal of Bitcoin, any eWallet service that has a shared wallet could offer this feature, any business that takes deposits and has a shared wallet like SealOfClubs could also offer this feature for their users, ect, ect, ect