And how's that going to work for bitcoin with a half ass working network?
People keep dreaming about using bitcoin in their daily life yet it craps out by a network flood.
Calm down. It seems that there are plenty of misconceptions due to lack of technical knowledge. Bitcoin can not remain decentralized and process Visa-like amounts on chain unless there are some breakthroughs. Just run the math yourself:People keep dreaming about using bitcoin in their daily life yet it craps out by a network flood.
Visa does 2000 TPS on average. Let's say that their daily peak is 4k. That is over 1300 times higher than Bitcoin. We are talking about 1.3 GB blocks here.
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Are people going to wait for hours to get their transactions confirmed before they leave walmart? Ridiculous.
That's where things like LN come into play. Those TXs are instant and there are no confirmations.I am not an expert in mining or bitcoin transaction issues but I genuinely think that this is just a matter of high traffic and appeals like boycott btc would work nicely if supported by everyone or at least most of the bitcoin users. Paying higher transaction fees might not work so we must give something on our individual level so I support boycott btc movement. No one should get panic because this is a temporary issue and will resolve soon.
Please do not post then. The boycott Bitcoin *movement* is a bad joke.I believe the miners are waiting for people to increase their transaction fees - but then no one wants to pay more money...
There are two problems with this post: False assumption and hasty generalization fallacy. 'No one wants to pay 30 cents to transfer $1m right?' 