Quote from: AgentofCoin on January 06, 2017, 11:29:04 PM

Quote from: franky1 on January 06, 2017, 11:23:32 PM

Quote from: AgentofCoin on January 06, 2017, 11:12:11 PM

Bitcoin is transacted immediately, like a creditcard or debt.
For bitcoins to receive a confirmation, thus creating a final settlement, it must be within a block.
For Bitcoin to have faster confirmation times, there are three possible choices:
~~1. Shorten the block interval~~
2. Raise the max blocksize
3. Create second layers designed for faster and more tps.
Those three choices is what the current "blocksize debate" is about.
Each choice creates other problems that can or can not be currently solved.
Some of the opinions about each one, are also in debate and are just opinions.

No one knows anything for sure and an incorrect choice could damage the system and its future.

number one of the list is not a viable option..
it has many repercussions and changes many dynamics of bitcoin. its not part of the main debate. just scenario opinions and personal chitchat

Well it is a choice that would allow more tps.
It is just a highly controversial one and we both know no one would ever agree to it.
I just listed it since it is an option.

But you are correct, that it is not directly part of the "blocksize debate".

All of these would probably take years to implement. They are all "hard forks" that need to be done and can only be done with the majority of nodes running the new system.
There would also be multiple security threats that may rise with these hard forks if they are rushed or not fully tested (due to the pressure of the community).
It would clear up a lot of issues if the block intervals were set to 1 minute/block (not really a good idea for obvious reasons - blocks could have just one transaction and block rewards would have to be changed which I'm not sure is possible).
If we had wallets on exchanges such as coinbase or blockchain.info then when sending "internally" the transaction could be instant and done in house (I think coinbase already do this to a certain degree - although I could be wrong). Then all you'd have to do is keep a small amount there to put the coins in daily for these transactions.