Post
Topic
Board Bitcoin Discussion
Re: Why i think we should reduce the block size
by
alani123
on 24/02/2017, 11:28:51 UTC
I am serious and challenge you to prove (this means i want to see some proof not speculation) me wrong. Bitcoin price is at an ATH, so are unconfirmed Transactions and the fees. Everybody is talking about scaling up while the number suggest we should scale down. Nobody uses Bitcoin as a currency to buy stuff, everybody is holding and in for a profit, so the fees do not matter. Let us maximize the profit by setting the blocksize to 0.5 MB.
You don't know what bitcoin is used for.

Yes, all transactions are recorded in a public ledger, but this doesn't mean that they can be associated with the type of financial transaction they're fulfilling. While the number of transactions can be associated with the price, it could very well mean that people are starting to use bitcoin as currency more to buy things and so on as the price trend currently favors spending it against the dollar, to buy goods etc.