Re: [30+PH] Kano CKPool kano.is 0.9% PPLNS US,DE,SG,JP,NL
So has this pool upgraded to SegWits? I think this is a total BS solution to the congestion problem. This is allowing third party companies like lightning network to come in and start creating off chain transactions which are taking away from our transaction fees/rewards. So we do all the work in mining yet they get an path to make a ton of money on bitcoin transactions without creating any kind of mining infrastructure which costs all of us a lot of money. For some of us this is our livelihood. Unless I am misunderstanding SegWits and lightning network which I do not think I am, this is going to screw us the miners in the end. Every time bitcoin halves the transaction fees become more and more of player. SegWits will take this away from us and we will start to see most of our rewards right at or under 12.5 after the .9% fee is taken out. I think if you wants faster transactions, then you just have to pay a higher transaction fee. Sorry, but I don't work for UNICEF and in my case this is my livelihood so I am firmly against how they are handling this. I would rather see a change in the code the allows for larger blocks and keep everything on chain.
So what does everyone else think? Am I misunderstanding this or do I have it right?
So what does everyone else think? Am I misunderstanding this or do I have it right?
apart from what kano posted about altcoins being encouraged by segwit, my understanding is that there is more space per block, so even with slightly smaller price fees will come as more or less the same.
While if you change blocksize to 2, 4, 8mb, then fees will be cheaper per transaction due to more "empty" space, so you will not be ahead anyway, or at least for a while. My understanding is LN is more like POS, not POW, which is good for those with some btc because it will allow you to probably earn something (like an interest) on saved/bought btc.
TL;DR you will NOT get more fees with larger blocks as you will get less fee/tx.
It is really quite simple bitcoin can not work as a stand alone coin.
Even with 2 to 4 to 8 to 16 mb.
you get a daily max of 1,340,000 transactions
then 2,680,000 transactions
then 5,360,000 transactions
then 10,720,000 transactions
those are max per day and only would be that big if every transaction is 225 bytes.
so any idea becomes a fail for growth other then alt coins.
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